Boothbay Fund Management LLC Buys Shares of 23,331 TORM plc (NASDAQ:TRMD)

Boothbay Fund Management LLC acquired a new stake in shares of TORM plc (NASDAQ:TRMD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,331 shares of the company's stock, valued at approximately $448,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in shares of TORM by 49.5% in the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock valued at $114,000 after purchasing an additional 1,939 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in TORM by 8.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock valued at $175,000 after buying an additional 711 shares in the last quarter. Apollon Wealth Management LLC grew its stake in TORM by 26.1% during the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock worth $208,000 after buying an additional 2,219 shares during the period. Aristides Capital LLC acquired a new stake in shares of TORM in the fourth quarter worth $216,000. Finally, NewEdge Advisors LLC raised its stake in shares of TORM by 16.4% in the 4th quarter. NewEdge Advisors LLC now owns 11,964 shares of the company's stock valued at $233,000 after acquiring an additional 1,685 shares during the period. Hedge funds and other institutional investors own 73.89% of the company's stock.

TORM Stock Up 2.3 %

NASDAQ:TRMD traded up $0.39 during mid-day trading on Monday, reaching $17.11. The stock had a trading volume of 630,623 shares, compared to its average volume of 972,823. The stock's 50 day simple moving average is $16.81 and its two-hundred day simple moving average is $19.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. TORM plc has a 1-year low of $13.60 and a 1-year high of $40.47. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 2.21 and a beta of 0.12.

TORM Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th were paid a $0.60 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.40 dividend on an annualized basis and a yield of 14.03%. TORM's payout ratio is currently 27.43%.

Wall Street Analyst Weigh In

TRMD has been the subject of several recent research reports. Kepler Capital Markets downgraded TORM from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th. Evercore ISI decreased their price objective on shares of TORM from $25.00 to $23.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd.

About TORM

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.