Bridgeway Capital Management LLC Purchases New Shares in Nordic American Tankers Limited (NYSE:NAT)

Bridgeway Capital Management LLC acquired a new position in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 828,717 shares of the shipping company's stock, valued at approximately $2,072,000. Bridgeway Capital Management LLC owned about 0.40% of Nordic American Tankers at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new position in Nordic American Tankers during the fourth quarter worth about $26,000. Summit Financial LLC purchased a new position in shares of Nordic American Tankers in the 4th quarter worth approximately $32,000. Avantax Advisory Services Inc. bought a new position in shares of Nordic American Tankers in the fourth quarter valued at approximately $33,000. AXQ Capital LP purchased a new stake in shares of Nordic American Tankers during the fourth quarter valued at approximately $43,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Nordic American Tankers during the fourth quarter worth $43,000. Institutional investors own 44.29% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NAT. StockNews.com downgraded Nordic American Tankers from a "hold" rating to a "sell" rating in a research note on Wednesday, April 9th. Jefferies Financial Group restated a "hold" rating and set a $3.00 price target on shares of Nordic American Tankers in a research report on Friday, February 28th.

Nordic American Tankers Price Performance

Nordic American Tankers stock opened at $2.60 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. The business's 50 day simple moving average is $2.50 and its 200 day simple moving average is $2.68. Nordic American Tankers Limited has a 12 month low of $2.13 and a 12 month high of $4.40. The company has a market cap of $550.55 million, a price-to-earnings ratio of 8.97 and a beta of -0.27.

Nordic American Tankers (NYSE:NAT - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $46.39 million for the quarter, compared to the consensus estimate of $51.38 million. Nordic American Tankers had a return on equity of 11.95% and a net margin of 26.41%. Sell-side analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 9.23%. The ex-dividend date was Monday, March 10th. Nordic American Tankers's dividend payout ratio (DPR) is currently 109.09%.

About Nordic American Tankers

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.

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