Jump Financial LLC Buys 477,119 Shares of Borr Drilling Limited $BORR

Key Points

• Jump Financial LLC increased its stake in Borr Drilling Limited by 256.7%, owning approximately 663,000 shares valued at $1.45 million after purchasing an additional 477,119 shares in the first quarter.
• Brokerages have downgraded Borr Drilling's stock ratings, with BTIG Research changing it from a "buy" to a "neutral," leading to an average rating of "Hold" and a target price of $9.00.
• Borr Drilling reported an earnings per share (EPS) of $0.14 for the last quarter, exceeding analysts' estimates, along with revenue of $267.70 million.

Jump Financial LLC increased its stake in Borr Drilling Limited (NYSE:BORR - Free Report) by 256.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 663,000 shares of the company's stock after acquiring an additional 477,119 shares during the period. Jump Financial LLC owned approximately 0.28% of Borr Drilling worth $1,452,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BORR. Encompass Capital Advisors LLC bought a new position in shares of Borr Drilling in the fourth quarter valued at approximately $10,718,000. Jane Street Group LLC boosted its holdings in shares of Borr Drilling by 842.5% in the fourth quarter. Jane Street Group LLC now owns 1,949,508 shares of the company's stock valued at $7,603,000 after acquiring an additional 1,742,670 shares in the last quarter. Linden Advisors LP bought a new position in shares of Borr Drilling in the fourth quarter valued at approximately $6,321,000. Lloyd Harbor Capital Management LLC acquired a new stake in Borr Drilling during the fourth quarter valued at approximately $5,220,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in Borr Drilling during the fourth quarter valued at approximately $4,122,000. 83.12% of the stock is currently owned by institutional investors.

Borr Drilling Stock Performance

NYSE:BORR traded down $0.04 during midday trading on Wednesday, reaching $2.73. The stock had a trading volume of 804,653 shares, compared to its average volume of 5,571,702. Borr Drilling Limited has a 1-year low of $1.55 and a 1-year high of $5.82. The firm's fifty day simple moving average is $2.24 and its 200-day simple moving average is $2.14. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $643.73 million, a P/E ratio of 12.98 and a beta of 1.99.

Borr Drilling (NYSE:BORR - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.03. Borr Drilling had a net margin of 5.48% and a return on equity of 5.46%. The business had revenue of $267.70 million for the quarter, compared to analyst estimates of $265.81 million.

Analysts Set New Price Targets

Several brokerages recently commented on BORR. SEB Equity Research set a $2.40 price target on shares of Borr Drilling in a research report on Monday. BTIG Research downgraded shares of Borr Drilling from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Finally, Fearnley Fonds downgraded shares of Borr Drilling from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $5.70.

Borr Drilling Company Profile

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.