Capricorn Fund Managers Ltd Makes New $241,000 Investment in Borr Drilling Limited (NYSE:BORR)

Key Points

• Capricorn Fund Managers Ltd acquired 110,000 shares of Borr Drilling Limited, valued at approximately $241,000, during the first quarter.
• Bank of America Corp DE significantly increased its stake in Borr Drilling by 169.1% during the fourth quarter, now holding 486,808 shares worth about $1.9 million.
• Borr Drilling reported a loss of ($0.07) earnings per share for its last quarter, missing estimates by four cents, with revenue of $217.5 million against expectations of $231.17 million.

Capricorn Fund Managers Ltd acquired a new position in Borr Drilling Limited (NYSE:BORR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 110,000 shares of the company's stock, valued at approximately $241,000.

Several other hedge funds have also bought and sold shares of BORR. Summit Trail Advisors LLC acquired a new position in Borr Drilling in the 1st quarter valued at $25,000. Oak Thistle LLC acquired a new position in Borr Drilling in the 1st quarter valued at $26,000. Abel Hall LLC acquired a new position in Borr Drilling in the 1st quarter valued at $29,000. Sterling Capital Management LLC raised its stake in Borr Drilling by 828.2% in the 4th quarter. Sterling Capital Management LLC now owns 7,593 shares of the company's stock valued at $30,000 after purchasing an additional 6,775 shares during the last quarter. Finally, CWM LLC raised its stake in Borr Drilling by 3,109.7% in the 1st quarter. CWM LLC now owns 15,631 shares of the company's stock valued at $34,000 after purchasing an additional 15,144 shares during the last quarter. Hedge funds and other institutional investors own 83.12% of the company's stock.

Analyst Ratings Changes

Separately, BTIG Research downgraded Borr Drilling from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th.

Borr Drilling Trading Down 7.4%

Shares of NYSE BORR traded down $0.16 during mid-day trading on Wednesday, reaching $2.00. 3,291,545 shares of the company's stock were exchanged, compared to its average volume of 4,156,988. The firm has a market capitalization of $472.46 million, a price-to-earnings ratio of 10.53 and a beta of 1.79. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.25 and a current ratio of 1.25. Borr Drilling Limited has a 52-week low of $1.55 and a 52-week high of $6.93. The company's 50-day moving average is $1.99 and its 200-day moving average is $2.31.

Borr Drilling (NYSE:BORR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). The company had revenue of $217.50 million during the quarter, compared to analyst estimates of $231.17 million. Borr Drilling had a net margin of 5.11% and a return on equity of 5.14%.

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.