Bridgeway Capital Management LLC Purchases 259,276 Shares of DHT Holdings, Inc. $DHT

Key Points

• Bridgeway Capital Management LLC increased its holdings in DHT Holdings, Inc. by 29.6%, owning approximately 1,133,972 shares valued at $11.91 million at the end of the first quarter.
• DHT recently announced a quarterly dividend of $0.24 per share, reflecting an increase from its previous dividend of $0.17, which represents an annualized yield of 8.0%.
• Research analysts have a consensus rating of "Moderate Buy" for DHT, with a target price of $12.94, following a recent upgrade to a "hold" rating by Zacks Research.

Bridgeway Capital Management LLC raised its position in DHT Holdings, Inc. (NYSE:DHT - Free Report) by 29.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,133,972 shares of the shipping company's stock after acquiring an additional 259,276 shares during the period. Bridgeway Capital Management LLC owned about 0.71% of DHT worth $11,907,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of DHT. GAMMA Investing LLC lifted its stake in DHT by 81.5% in the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the shipping company's stock valued at $25,000 after acquiring an additional 1,073 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in DHT by 84.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,771 shares of the shipping company's stock valued at $26,000 after acquiring an additional 1,265 shares in the last quarter. CWM LLC lifted its stake in DHT by 223.4% in the 1st quarter. CWM LLC now owns 3,063 shares of the shipping company's stock valued at $32,000 after acquiring an additional 2,116 shares in the last quarter. Harbour Investments Inc. lifted its position in DHT by 26.7% during the 1st quarter. Harbour Investments Inc. now owns 6,637 shares of the shipping company's stock worth $70,000 after buying an additional 1,400 shares in the last quarter. Finally, Xponance Inc. bought a new stake in DHT during the 1st quarter worth about $106,000. Institutional investors own 58.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on DHT. Zacks Research raised shares of DHT to a "hold" rating in a research report on Monday, August 11th. Jefferies Financial Group reissued a "buy" rating and set a $15.00 price target on shares of DHT in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, DHT has a consensus rating of "Moderate Buy" and an average target price of $12.94.

DHT Stock Up 1.5%

Shares of DHT stock traded up $0.19 on Monday, reaching $12.65. 3,311,831 shares of the company were exchanged, compared to its average volume of 1,746,714. DHT Holdings, Inc. has a one year low of $8.67 and a one year high of $12.93. The company has a 50-day moving average of $11.28 and a 200 day moving average of $11.03. The company has a current ratio of 2.33, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 10.72 and a beta of 0.03.

DHT (NYSE:DHT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The shipping company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. DHT had a return on equity of 16.36% and a net margin of 36.58%.The business had revenue of $92.80 million for the quarter, compared to analysts' expectations of $95.41 million. During the same quarter in the prior year, the business earned $0.27 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities research analysts forecast that DHT Holdings, Inc. will post 0.94 earnings per share for the current year.

DHT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.96 annualized dividend and a yield of 7.6%. This is an increase from DHT's previous quarterly dividend of $0.17. DHT's payout ratio is currently 81.36%.

About DHT

DHT Holdings, Inc, through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, and Norway. The company also offers technical management services. As of March 15, 2024, it had a fleet of 24 very large crude carriers. The company was incorporated in 2005 and is headquartered in Hamilton, Bermuda.