Assenagon Asset Management S.A. Purchases New Shares in Hafnia Limited $HAFN

Key Points

• Assenagon Asset Management initiated a new stake in Hafnia during the first quarter, buying 4.2 million shares valued at about $32.2 million, or roughly 0.82% of the company.
• Several insiders sold shares recently, including the CFO and CEO, and insiders as a group sold 1.09 million shares worth $8.85 million in the last quarter.
• Hafnia reported quarterly earnings of $0.36 per share and revenue of $688.9 million, while also raising its quarterly dividend to $0.2877 per share, implying a very high annualized yield of about 16.5%.

Assenagon Asset Management S.A. bought a new position in shares of Hafnia Limited (NYSE:HAFN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,206,268 shares of the company's stock, valued at approximately $32,205,000. Assenagon Asset Management S.A. owned approximately 0.82% of Hafnia as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. MHR Fund Management LLC lifted its holdings in Hafnia by 7.6% in the 4th quarter. MHR Fund Management LLC now owns 18,496,652 shares of the company's stock valued at $98,587,000 after purchasing an additional 1,309,938 shares in the last quarter. Vanguard Group Inc. grew its holdings in Hafnia by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 10,928,233 shares of the company's stock valued at $58,870,000 after buying an additional 69,992 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Hafnia by 0.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 10,742,756 shares of the company's stock valued at $64,522,000 after buying an additional 54,905 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Hafnia by 17.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,870,521 shares of the company's stock worth $20,630,000 after acquiring an additional 571,909 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Hafnia by 241.6% during the 1st quarter. Jane Street Group LLC now owns 815,341 shares of the company's stock valued at $3,392,000 after acquiring an additional 576,629 shares during the last quarter.

Insiders Place Their Bets

In other news, CFO Echtelt Petrus Wouter Van sold 90,000 shares of the business's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $8.22, for a total transaction of $739,800.00. Following the completion of the sale, the chief financial officer owned 91,994 shares in the company, valued at approximately $756,190.68. The trade was a 49.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mikael Opstun Skov sold 500,000 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $8.11, for a total transaction of $4,055,000.00. Following the sale, the chief executive officer directly owned 1,130,978 shares of the company's stock, valued at approximately $9,172,231.58. This trade represents a 30.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,090,000 shares of company stock worth $8,854,800.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HAFN shares. Pareto Securities cut shares of Hafnia to a "hold" rating in a research note on Wednesday, May 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hafnia in a report on Wednesday, May 6th. Dnb Carnegie lowered shares of Hafnia from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 12th. Finally, Wall Street Zen raised shares of Hafnia from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Hafnia has a consensus rating of "Moderate Buy".

Hafnia Price Performance

Hafnia stock opened at $6.96 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.60 and a debt-to-equity ratio of 0.31. The firm's 50-day simple moving average is $8.11 and its 200 day simple moving average is $7.10. Hafnia Limited has a 52 week low of $4.90 and a 52 week high of $9.53. The firm has a market capitalization of $3.57 billion, a PE ratio of 7.65 and a beta of 0.64.

Hafnia (NYSE:HAFN - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported $0.36 earnings per share for the quarter. Hafnia had a return on equity of 19.20% and a net margin of 44.74%.The company had revenue of $688.87 million during the quarter.

Hafnia Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Thursday, June 4th were issued a $0.2877 dividend. The ex-dividend date was Thursday, June 4th. This is a positive change from Hafnia's previous quarterly dividend of $0.18. This represents a $1.15 dividend on an annualized basis and a yield of 16.5%. Hafnia's payout ratio is presently 126.37%.

About Hafnia

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.

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