Hafnia Limited $HAFN Stake Boosted by MHR Fund Management LLC

Key Points

• MHR Fund Management LLC increased its Hafnia stake by 7.6% in the fourth quarter, adding more than 1.3 million shares and making the stock its third-largest position at about 8.5% of the portfolio.
• Hafnia reported strong recent financial results, including Q1 EPS of $0.36 on revenue of $688.87 million, with a return on equity of 19.2% and a net margin of 44.74%.
• The company boosted its quarterly dividend to $0.2877 per share from $0.18, implying an annualized yield of 16.1%, even as insider selling continued over the last three months.

MHR Fund Management LLC lifted its position in Hafnia Limited (NYSE:HAFN - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,496,652 shares of the company's stock after buying an additional 1,309,938 shares during the period. Hafnia makes up about 8.5% of MHR Fund Management LLC's investment portfolio, making the stock its 3rd biggest position. MHR Fund Management LLC's holdings in Hafnia were worth $98,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Hafnia by 3.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 44,390 shares of the company's stock worth $240,000 after buying an additional 1,509 shares during the last quarter. Vise Technologies Inc. lifted its position in Hafnia by 16.4% during the third quarter. Vise Technologies Inc. now owns 16,326 shares of the company's stock valued at $98,000 after purchasing an additional 2,305 shares in the last quarter. TD Asset Management Inc lifted its position in Hafnia by 7.1% during the fourth quarter. TD Asset Management Inc now owns 37,039 shares of the company's stock valued at $200,000 after purchasing an additional 2,453 shares in the last quarter. Glenorchy Capital Ltd lifted its position in Hafnia by 3.6% during the fourth quarter. Glenorchy Capital Ltd now owns 98,964 shares of the company's stock valued at $527,000 after purchasing an additional 3,442 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its position in Hafnia by 30.2% during the fourth quarter. Engineers Gate Manager LP now owns 16,018 shares of the company's stock valued at $85,000 after purchasing an additional 3,720 shares in the last quarter.

Hafnia Price Performance

NYSE HAFN opened at $7.15 on Thursday. The company has a market capitalization of $3.66 billion, a PE ratio of 7.85 and a beta of 0.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.48 and a current ratio of 1.60. The business's fifty day moving average is $8.23 and its 200 day moving average is $7.04. Hafnia Limited has a fifty-two week low of $4.90 and a fifty-two week high of $9.53.

Hafnia (NYSE:HAFN - Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.36 EPS for the quarter. The business had revenue of $688.87 million for the quarter. 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 was paid on Tuesday, June 16th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.2877 per share. This is a boost from Hafnia's previous quarterly dividend of $0.18. This represents a $1.15 dividend on an annualized basis and a yield of 16.1%. The ex-dividend date of this dividend was Thursday, June 4th. Hafnia's payout ratio is 126.37%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wall Street Zen upgraded Hafnia from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hafnia in a research report on Wednesday, May 6th. Pareto Securities downgraded Hafnia to a "hold" rating in a research report on Wednesday, May 27th. Finally, Dnb Carnegie downgraded Hafnia from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 12th. 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 currently has an average rating of "Moderate Buy".

Insider Transactions at Hafnia

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

Hafnia Company Profile

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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