Globeflex Capital L P Acquires New Position in Himalaya Shipping Ltd. $HSHP

Key Points

• Globeflex Capital initiated a position in Himalaya Shipping by purchasing 318,651 shares worth approximately $4.26 million, representing about 0.68% of the company. Institutional investors collectively own 22.33% of HSHP.
• Analyst sentiment remains positive: Weiss Ratings and Clarkson Capital upgraded the stock to “buy,” while Wall Street Zen maintained a “buy” rating. MarketBeat reports an overall average rating of “Buy.”
• Himalaya Shipping reported quarterly EPS of $0.52 on $55.3 million in revenue and declared a $0.22 per-share dividend, payable August 27 to shareholders of record August 21.

Globeflex Capital L P bought a new position in Himalaya Shipping Ltd. (NYSE:HSHP - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 318,651 shares of the company's stock, valued at approximately $4,257,000. Globeflex Capital L P owned approximately 0.68% of Himalaya Shipping at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HSHP. Arrowstreet Capital Limited Partnership raised its stake in shares of Himalaya Shipping by 292.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company's stock valued at $13,344,000 after acquiring an additional 750,944 shares in the last quarter. Bank of America Corp DE grew its stake in Himalaya Shipping by 230.4% in the first quarter. Bank of America Corp DE now owns 399,028 shares of the company's stock worth $5,307,000 after purchasing an additional 278,273 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Himalaya Shipping by 322.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 259,959 shares of the company's stock worth $2,366,000 after purchasing an additional 198,362 shares during the period. Barclays PLC increased its holdings in Himalaya Shipping by 162.3% during the 4th quarter. Barclays PLC now owns 260,780 shares of the company's stock worth $2,373,000 after purchasing an additional 161,378 shares during the period. Finally, Marex Group plc bought a new stake in Himalaya Shipping during the 4th quarter valued at $1,227,000. 22.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HSHP. Weiss Ratings upgraded Himalaya Shipping from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. Clarkson Capital upgraded Himalaya Shipping from a "neutral" rating to a "buy" rating in a report on Thursday. Finally, Wall Street Zen lowered shares of Himalaya Shipping from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 24th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy".

Himalaya Shipping Stock Down 0.2%

Shares of NYSE HSHP opened at $16.56 on Monday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 4.00. The stock has a market capitalization of $772.52 million, a PE ratio of 14.65 and a beta of 1.37. The stock's fifty day simple moving average is $15.03 and its two-hundred day simple moving average is $14.21. Himalaya Shipping Ltd. has a 12-month low of $7.37 and a 12-month high of $17.06.

Himalaya Shipping (NYSE:HSHP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 1st. The company reported $0.52 earnings per share (EPS) for the quarter. The business had revenue of $55.30 million for the quarter. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%.

Himalaya Shipping Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, August 27th. Shareholders of record on Friday, August 21st will be issued a $0.22 dividend. The ex-dividend date is Thursday, August 20th.

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.

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