Glenorchy Capital Ltd Acquires Shares of 616,288 Borr Drilling Limited $BORR

Key Points

• Glenorchy Capital Ltd acquired a new stake of 616,288 shares in Borr Drilling (NYSE:BORR) during the quarter, valued at about $2.48 million and making it the firm's 23rd largest holding.
• Institutional ownership is high at 83.12%, and Millennium Management significantly boosted its position to 3,810,556 shares (adding 3,471,979 shares), a stake valued around $8.35 million.
• Analysts are mixed on BORR with an average rating of "Hold" and an average target price of $4.33, while recent research notes range from a strong-buy to sell (Citigroup's target: $6.25).

Glenorchy Capital Ltd acquired a new stake in Borr Drilling Limited (NYSE:BORR - 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 616,288 shares of the company's stock, valued at approximately $2,484,000. Borr Drilling accounts for approximately 0.2% of Glenorchy Capital Ltd's holdings, making the stock its 23rd largest holding. Glenorchy Capital Ltd owned about 0.20% of Borr Drilling at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BORR. AQR Capital Management LLC bought a new stake in Borr Drilling in the first quarter valued at approximately $476,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Borr Drilling by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,927 shares of the company's stock valued at $309,000 after buying an additional 6,012 shares during the period. Millennium Management LLC raised its stake in Borr Drilling by 1,025.5% in the first quarter. Millennium Management LLC now owns 3,810,556 shares of the company's stock valued at $8,345,000 after buying an additional 3,471,979 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Borr Drilling in the first quarter valued at approximately $186,000. Finally, Creative Planning raised its stake in Borr Drilling by 13.1% in the second quarter. Creative Planning now owns 229,786 shares of the company's stock valued at $421,000 after buying an additional 26,541 shares during the period. Institutional investors own 83.12% of the company's stock.

Analysts Set New Price Targets

BORR has been the topic of several research analyst reports. Wall Street Zen lowered Borr Drilling from a "hold" rating to a "sell" rating in a research note on Saturday, April 18th. Citigroup upped their price objective on Borr Drilling from $6.00 to $6.25 and gave the company a "neutral" rating in a research note on Wednesday, February 25th. Weiss Ratings lowered Borr Drilling from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, March 27th. Finally, Fearnley Fonds upgraded Borr Drilling from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Borr Drilling presently has an average rating of "Hold" and an average target price of $4.33.

Borr Drilling Price Performance

Borr Drilling stock opened at $5.69 on Monday. Borr Drilling Limited has a 12 month low of $1.55 and a 12 month high of $6.25. The stock's 50 day moving average is $5.62 and its 200-day moving average is $4.45. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 33.49 and a beta of 1.10.

Borr Drilling (NYSE:BORR - Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.03. Borr Drilling had a return on equity of 4.14% and a net margin of 4.41%.The company had revenue of $259.40 million for the quarter, compared to the consensus estimate of $238.65 million.

Borr Drilling Profile

Borr Drilling is an international offshore drilling contractor providing premium jack-up drilling services to the oil and gas industry. Established in 2016 and incorporated in Bermuda with headquarters in Hamilton, the company is listed on the New York Stock Exchange under the ticker symbol BORR. Borr Drilling focuses exclusively on the ownership and operation of mobile offshore jack-up rigs, catering to exploration and production drilling projects in both mature and emerging hydrocarbon regions.

The company's core business activities encompass the long-term contracting of high-specification jack-up rigs suitable for shallow-to-intermediate water depths.

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