Deutsche Bank AG Decreases Holdings in Borr Drilling Limited (NYSE:BORR)

Deutsche Bank AG reduced its stake in Borr Drilling Limited (NYSE:BORR - Free Report) by 59.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,890 shares of the company's stock after selling 280,972 shares during the period. Deutsche Bank AG owned 0.07% of Borr Drilling worth $737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Concentric Capital Strategies LP purchased a new position in Borr Drilling during the fourth quarter valued at $1,612,000. Bank of America Corp DE boosted its stake in Borr Drilling by 169.1% in the 4th quarter. Bank of America Corp DE now owns 486,808 shares of the company's stock worth $1,899,000 after purchasing an additional 305,935 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Borr Drilling in the 4th quarter worth about $127,000. 4WEALTH Advisors Inc. purchased a new stake in Borr Drilling during the 4th quarter valued at about $385,000. Finally, Jane Street Group LLC grew its position in Borr Drilling by 842.5% during the 4th quarter. Jane Street Group LLC now owns 1,949,508 shares of the company's stock valued at $7,603,000 after purchasing an additional 1,742,670 shares during the last quarter. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

Borr Drilling Stock Down 5.4%

Borr Drilling stock traded down $0.10 during trading hours on Friday, hitting $1.74. The stock had a trading volume of 3,506,168 shares, compared to its average volume of 3,894,765. The stock's 50-day moving average price is $1.89 and its 200-day moving average price is $2.85. The stock has a market capitalization of $416.40 million, a P/E ratio of 5.44 and a beta of 1.77. Borr Drilling Limited has a 12-month low of $1.55 and a 12-month high of $7.09. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91.

Borr Drilling (NYSE:BORR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%. The firm had revenue of $217.50 million for the quarter, compared to the consensus estimate of $231.17 million.

About Borr Drilling

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.