Cercano Management LLC Takes $1.43 Million Position in Hafnia Limited $HAFN

Key Points

• Cercano Management LLC opened a new position in Hafnia, buying 264,379 shares worth about $1.43 million in the fourth quarter.
• Hafnia reported strong quarterly results, with EPS of $0.36 topping estimates and revenue of $688.87 million far above expectations.
• The company also raised its quarterly dividend to $0.2877 per share, implying a 14.8% annualized yield, even as insiders recently sold shares and analysts remain split with a Moderate Buy consensus.

Cercano Management LLC acquired a new stake in Hafnia Limited (NYSE:HAFN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 264,379 shares of the company's stock, valued at approximately $1,426,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GC Wealth Management RIA LLC bought a new position in Hafnia in the 4th quarter valued at about $53,000. State of Wyoming acquired a new position in shares of Hafnia in the second quarter valued at approximately $57,000. Merit Financial Group LLC grew its position in shares of Hafnia by 42.6% in the third quarter. Merit Financial Group LLC now owns 15,555 shares of the company's stock valued at $93,000 after purchasing an additional 4,644 shares during the last quarter. Vise Technologies Inc. increased its stake in shares of Hafnia by 16.4% during the third quarter. Vise Technologies Inc. now owns 16,326 shares of the company's stock worth $98,000 after purchasing an additional 2,305 shares during the period. Finally, SBI Securities Co. Ltd. increased its stake in shares of Hafnia by 219.7% during the third quarter. SBI Securities Co. Ltd. now owns 16,398 shares of the company's stock worth $98,000 after purchasing an additional 11,269 shares during the period.

Insider Buying and Selling at Hafnia

In other news, CFO Echtelt Petrus Wouter Van sold 90,000 shares of the business's stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $8.22, for a total transaction of $739,800.00. Following the completion of the sale, the chief financial officer directly owned 91,994 shares of the company's stock, valued at $756,190.68. The trade was a 49.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mikael Opstun Skov sold 500,000 shares of the company's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $8.11, for a total value of $4,055,000.00. Following the sale, the chief executive officer owned 1,130,978 shares of the company's stock, valued at $9,172,231.58. This trade represents a 30.66% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,090,000 shares of company stock worth $8,854,800.

Hafnia Price Performance

HAFN stock opened at $7.78 on Tuesday. The company has a market capitalization of $3.99 billion, a P/E ratio of 8.54 and a beta of 0.64. The company has a fifty day moving average price of $8.27 and a 200-day moving average price of $6.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.48 and a current ratio of 1.60. Hafnia Limited has a 52-week low of $4.90 and a 52-week high of $9.53.

Hafnia (NYSE:HAFN - Get Free Report) last announced its earnings results on Wednesday, May 27th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.30 by $0.06. The business had revenue of $688.87 million for the quarter, compared to analysts' expectations of $298.65 million. Hafnia had a return on equity of 19.20% and a net margin of 44.74%.

Hafnia Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.2877 per share. This is a boost from Hafnia's previous quarterly dividend of $0.18. The ex-dividend date is Thursday, June 4th. This represents a $1.15 dividend on an annualized basis and a yield of 14.8%. Hafnia's dividend payout ratio (DPR) is presently 76.92%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HAFN shares. Dnb Carnegie downgraded Hafnia from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 12th. Pareto Securities downgraded shares of Hafnia to a "hold" rating in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Hafnia from a "hold" rating to a "buy" rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Hafnia in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

About Hafnia

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.

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