Los Angeles Capital Management LLC Makes New Investment in Himalaya Shipping Ltd. $HSHP

Los Angeles Capital Management LLC acquired a new stake in Himalaya Shipping Ltd. (NYSE:HSHP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,965 shares of the company’s stock, valued at approximately $69,000.

Other hedge funds have also made changes to their positions in the company. Deutsche Bank AG increased its holdings in Himalaya Shipping by 2,342.1% in the 1st quarter. Deutsche Bank AG now owns 19,097 shares of the company’s stock valued at $105,000 after purchasing an additional 18,315 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Himalaya Shipping by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 62,184 shares of the company’s stock valued at $341,000 after buying an additional 2,170 shares during the period. Russell Investments Group Ltd. lifted its position in Himalaya Shipping by 478.7% during the 1st quarter. Russell Investments Group Ltd. now owns 123,431 shares of the company’s stock worth $676,000 after acquiring an additional 102,103 shares in the last quarter. Rhumbline Advisers boosted its holdings in Himalaya Shipping by 5.6% in the 1st quarter. Rhumbline Advisers now owns 39,513 shares of the company’s stock worth $217,000 after acquiring an additional 2,110 shares during the period. Finally, MetLife Investment Management LLC grew its position in Himalaya Shipping by 42.5% in the first quarter. MetLife Investment Management LLC now owns 18,081 shares of the company’s stock valued at $99,000 after acquiring an additional 5,389 shares in the last quarter. Hedge funds and other institutional investors own 22.33% of the company’s stock.

Himalaya Shipping Price Performance

Shares of HSHP opened at $8.26 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 4.19. Himalaya Shipping Ltd. has a 52 week low of $4.29 and a 52 week high of $8.95. The stock has a 50 day moving average of $8.16 and a 200-day moving average of $7.16. The firm has a market cap of $329.13 million, a price-to-earnings ratio of 75.05 and a beta of 1.94.

Himalaya Shipping (NYSE:HSHP) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. Himalaya Shipping had a net margin of 4.39% and a return on equity of 3.30%. The business had revenue of $37.40 million during the quarter, compared to analyst estimates of $41.45 million.

Himalaya Shipping Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be paid a $0.07 dividend. The ex-dividend date is Friday, November 14th. Himalaya Shipping’s dividend payout ratio (DPR) is presently 45.45%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Himalaya Shipping in a report on Wednesday, October 8th. Wall Street Zen cut Himalaya Shipping from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.