69,250 Shares in Himalaya Shipping Ltd. $HSHP Bought by Kercheville Advisors LLC

Kercheville Advisors LLC bought a new stake in shares of Himalaya Shipping Ltd. (NYSE:HSHP) during the 3rd quarter, Holdings Channel reports. The fund bought 69,250 shares of the company’s stock, valued at approximately $1,203,000.

Several other hedge funds have also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of Himalaya Shipping by 292.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company’s stock valued at $13,344,000 after acquiring an additional 750,944 shares in the last quarter. Bank of America Corp DE lifted its stake in Himalaya Shipping by 230.4% in the first quarter. Bank of America Corp DE now owns 399,028 shares of the company’s stock worth $5,307,000 after acquiring an additional 278,273 shares during the period. Globeflex Capital L P purchased a new position in Himalaya Shipping during the 2nd quarter valued at $4,257,000. Sei Investments Co. increased its position in Himalaya Shipping by 425.7% during the 1st quarter. Sei Investments Co. now owns 122,313 shares of the company’s stock valued at $1,627,000 after purchasing an additional 99,046 shares during the period. Finally, Walleye Capital LLC increased its position in Himalaya Shipping by 30.8% during the 1st quarter. Walleye Capital LLC now owns 67,723 shares of the company’s stock valued at $901,000 after purchasing an additional 15,958 shares during the period. 22.33% of the stock is owned by hedge funds and other institutional investors.

Himalaya Shipping Stock Up 0.2%

Shares of HSHP stock traded up $0.03 during midday trading on Monday, reaching $16.11. 666,291 shares of the stock were exchanged, compared to its average volume of 366,582. Himalaya Shipping Ltd. has a 1 year low of $7.37 and a 1 year high of $19.55. The company’s 50 day moving average is $17.30 and its two-hundred day moving average is $15.58. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 4.00. The firm has a market cap of $751.39 million, a PE ratio of 14.25 and a beta of 1.36.

Himalaya Shipping (NYSE:HSHP) last announced its earnings results on Wednesday, July 1st. The company reported $0.52 earnings per share (EPS) for the quarter. The firm had revenue of $55.30 million during the quarter. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%.

Himalaya Shipping Increases Dividend

The company also recently declared a dividend, which will be paid on Tuesday, October 27th. Investors of record on Monday, October 19th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, October 16th. This is a positive change from Himalaya Shipping’s previous dividend of $0.25.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HSHP shares. Clarkson Capital upgraded shares of Himalaya Shipping from a “neutral” rating to a “buy” rating in a report on Thursday, August 20th. Weiss Ratings raised shares of Himalaya Shipping from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Himalaya Shipping Profile

Himalaya Shipping Ltd. is a Bermuda-based dry bulk shipping company focused on owning and operating large-capacity Newcastlemax vessels. The company transports major dry bulk commodities, including iron ore and coal, for customers in the global commodities and steel industries.

Himalaya Shipping was established in 2021 and has developed a fleet of Newcastlemax vessels designed to serve long-haul dry bulk routes. Its ships are equipped with dual-fuel engines capable of using liquefied natural gas, supporting improved fuel efficiency and lower emissions compared with conventional vessel designs.

The company’s vessels operate internationally, serving key trade routes connecting major mining, energy and steel-producing regions.