Hafnia Limited $HAFN Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Hafnia Limited by 41.5%, selling 235,743 shares and retaining 332,109 shares, valued at approximately $1.36 million.
• Hafnia received a strong-buy rating from Fearnley Fonds, contributing to an average rating of "Strong Buy" with a target price of $6.50.
• The company's stock increased by 3.5% to open at $6.05, following a quarterly earnings report that revealed a net margin of 45.74% and exceeded revenue estimates at $346.56 million.

Russell Investments Group Ltd. trimmed its position in shares of Hafnia Limited (NYSE:HAFN - Free Report) by 41.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 332,109 shares of the company's stock after selling 235,743 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Hafnia worth $1,362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HAFN. WealthCollab LLC purchased a new position in Hafnia in the fourth quarter valued at about $28,000. Naviter Wealth LLC purchased a new position in Hafnia in the first quarter valued at about $42,000. Avantax Advisory Services Inc. purchased a new position in Hafnia in the first quarter valued at about $47,000. Smith Anglin Financial LLC purchased a new position in Hafnia in the first quarter valued at about $52,000. Finally, Bernard Wealth Management Corp. purchased a new position in Hafnia in the fourth quarter valued at about $58,000.

Analyst Ratings Changes

Separately, Fearnley Fonds raised shares of Hafnia to a "strong-buy" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, Hafnia presently has an average rating of "Strong Buy" and an average target price of $6.50.

Hafnia Stock Up 3.5%

HAFN stock opened at $6.05 on Thursday. The company's 50 day simple moving average is $5.44 and its 200-day simple moving average is $4.96. The firm has a market capitalization of $3.06 billion, a PE ratio of 5.00 and a beta of 0.91. Hafnia Limited has a 12 month low of $3.61 and a 12 month high of $8.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.24 and a quick ratio of 1.12.

Hafnia (NYSE:HAFN - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The business had revenue of $346.56 million for the quarter, compared to analyst estimates of $249.42 million. Hafnia had a net margin of 45.74% and a return on equity of 26.29%.

Hafnia Company Profile

Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.

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