American Beacon Advisors Inc. Has $8.64 Million Stake in KNOT Offshore Partners LP $KNOP

American Beacon Advisors Inc. boosted its holdings in shares of KNOT Offshore Partners LP (NYSE:KNOP - Free Report) by 71.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 865,554 shares of the shipping company's stock after buying an additional 361,659 shares during the period. KNOT Offshore Partners makes up about 62.5% of American Beacon Advisors Inc.'s portfolio, making the stock its largest position. American Beacon Advisors Inc. owned approximately 2.57% of KNOT Offshore Partners worth $8,638,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in KNOT Offshore Partners by 8.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,335,435 shares of the shipping company's stock valued at $13,461,000 after acquiring an additional 108,400 shares in the last quarter. Millennium Management LLC boosted its stake in KNOT Offshore Partners by 56.5% during the 4th quarter. Millennium Management LLC now owns 145,483 shares of the shipping company's stock valued at $1,506,000 after purchasing an additional 52,538 shares during the last quarter. Alpine Global Management LLC bought a new stake in KNOT Offshore Partners during the 4th quarter worth approximately $1,294,000. Janney Montgomery Scott LLC bought a new stake in KNOT Offshore Partners during the 1st quarter worth approximately $643,000. Finally, Trexquant Investment LP purchased a new stake in shares of KNOT Offshore Partners in the fourth quarter worth approximately $520,000. 26.82% of the stock is owned by institutional investors.

Insider Activity

In other KNOT Offshore Partners news, Director Trygve Seglem bought 1,250,000 shares of the stock in a transaction dated Monday, June 15th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $25,000,000.00. Following the purchase, the director directly owned 1,458,333 shares of the company's stock, valued at approximately $29,166,660. This trade represents a 600.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

KNOT Offshore Partners Trading Down 0.6%

NYSE:KNOP opened at $10.83 on Tuesday. KNOT Offshore Partners LP has a 52 week low of $7.65 and a 52 week high of $11.78. The firm has a 50-day moving average price of $10.49 and a two-hundred day moving average price of $10.51. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.24 and a current ratio of 0.25. The firm has a market cap of $364.54 million, a price-to-earnings ratio of 20.06 and a beta of -0.05.

KNOT Offshore Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, July 27th were paid a $0.075 dividend. This is a boost from KNOT Offshore Partners's previous quarterly dividend of $0.05. The ex-dividend date was Monday, July 27th. This represents a $0.30 dividend on an annualized basis and a yield of 2.8%. KNOT Offshore Partners's dividend payout ratio is currently 55.56%.

Analyst Ratings Changes

Several brokerages recently issued reports on KNOP. Weiss Ratings reaffirmed a "hold (c)" rating on shares of KNOT Offshore Partners in a research report on Wednesday, July 29th. Zacks Research raised KNOT Offshore Partners from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen lowered KNOT Offshore Partners from a "hold" rating to a "sell" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

KNOT Offshore Partners Profile

KNOT Offshore Partners LP is a publicly traded limited partnership formed in 2013 to own and operate shuttle tankers under long‐term charters in the offshore oil industry. Listed on the New York Stock Exchange under the symbol KNOP, the partnership specializes in the transportation of crude oil from offshore production facilities to onshore refineries. Its fleet comprises moderne shuttle tankers equipped with dynamic positioning systems, enabling safe transfer operations in harsh weather and sea conditions.

The partnership's vessels primarily serve fields in the North Sea, Brazil and West Africa, where they operate under multi‐year contracts with major energy producers.

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