Vident Advisory LLC Has $634,000 Position in CMB.TECH nv $CMBT

Key Points

• Vident Advisory LLC reduced its stake in CMB.TECH nv by 38.3%, selling 43,394 shares and retaining 69,842 shares valued at $634,000.
• CMB.TECH reported earnings of $0.04 per share, missing the consensus estimate of $0.14, despite achieving revenues of $387.81 million.
• The company announced a special dividend of $0.05 to be paid on October 9th to stockholders of record on October 2nd.

Vident Advisory LLC cut its position in shares of CMB.TECH nv (NYSE:CMBT - Free Report) by 38.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,842 shares of the company's stock after selling 43,394 shares during the quarter. Vident Advisory LLC's holdings in CMB.TECH were worth $634,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CMBT. Bank of America Corp DE bought a new position in shares of CMB.TECH during the fourth quarter worth about $553,000. XTX Topco Ltd bought a new position in CMB.TECH in the first quarter valued at approximately $147,000. Millennium Management LLC bought a new position in CMB.TECH in the fourth quarter valued at approximately $144,000. Envestnet Asset Management Inc. grew its stake in CMB.TECH by 9.6% in the first quarter. Envestnet Asset Management Inc. now owns 72,292 shares of the company's stock valued at $656,000 after purchasing an additional 6,304 shares in the last quarter. Finally, State of Wyoming bought a new position in CMB.TECH in the fourth quarter valued at approximately $37,000.

CMB.TECH Stock Performance

Shares of CMBT stock traded up $0.35 during trading on Tuesday, reaching $9.85. 3,482,542 shares of the company's stock were exchanged, compared to its average volume of 589,652. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 1.98. The stock has a market capitalization of $1.92 billion, a PE ratio of 7.94 and a beta of 0.04. CMB.TECH nv has a twelve month low of $7.65 and a twelve month high of $17.60. The firm's fifty day moving average price is $9.01 and its 200-day moving average price is $9.10.

CMB.TECH (NYSE:CMBT - Get Free Report) last posted its earnings results on Thursday, August 28th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.10). The business had revenue of $387.81 million for the quarter, compared to analyst estimates of $259.00 million. CMB.TECH had a return on equity of 6.02% and a net margin of 22.69%.

CMB.TECH Announces Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, October 2nd will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 2nd. CMB.TECH's payout ratio is presently 2.42%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded CMB.TECH from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

About CMB.TECH

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.