Capricorn Fund Managers Ltd Invests $241,000 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 bought a new stake in shares of Borr Drilling Limited (NYSE:BORR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 110,000 shares of the company's stock, valued at approximately $241,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. De Lisle Partners LLP grew its holdings in shares of Borr Drilling by 1.7% in the 1st quarter. De Lisle Partners LLP now owns 1,801,424 shares of the company's stock valued at $3,954,000 after buying an additional 30,000 shares during the period. Abel Hall LLC acquired a new position in shares of Borr Drilling in the 1st quarter valued at $29,000. Oak Thistle LLC acquired a new position in shares of Borr Drilling in the 1st quarter valued at $26,000. Private Advisor Group LLC grew its holdings in shares of Borr Drilling by 24.9% in the 1st quarter. Private Advisor Group LLC now owns 31,062 shares of the company's stock valued at $68,000 after buying an additional 6,200 shares during the period. Finally, CWM LLC grew its holdings in shares of 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 buying an additional 15,144 shares during the period. Institutional investors own 83.12% of the company's stock.

Borr Drilling Stock Down 7.1%

NYSE BORR traded down $0.15 on Friday, reaching $1.89. The company had a trading volume of 7,946,502 shares, compared to its average volume of 3,568,609. The firm has a market capitalization of $445.29 million, a price-to-earnings ratio of 9.92 and a beta of 1.89. 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 1-year low of $1.55 and a 1-year high of $6.82. The company's fifty day moving average is $2.01 and its 200-day moving average is $2.29.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on BORR shares. Fearnley Fonds lowered shares of Borr Drilling from a "strong-buy" rating to a "hold" rating in a report on Wednesday. BTIG Research lowered shares of Borr Drilling from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th.

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.