HighTower Advisors LLC Acquires 236,281 Shares of Borr Drilling Limited $BORR

Key Points

• HighTower Advisors LLC increased its position in Borr Drilling Limited by 100.1%, owning 472,225 shares worth approximately $1,034,000 by the end of the first quarter.
• Several institutional investors have recently added stakes in Borr Drilling, with 83.12% of the stock now held by hedge funds and other institutional investors.
• Equities research analysts have downgraded Borr Drilling's rating, with a consensus rating of "Hold" and an average price target of $9.00.

HighTower Advisors LLC raised its stake in shares of Borr Drilling Limited (NYSE:BORR - Free Report) by 100.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 472,225 shares of the company's stock after acquiring an additional 236,281 shares during the period. HighTower Advisors LLC owned approximately 0.20% of Borr Drilling worth $1,034,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BORR. Encompass Capital Advisors LLC bought a new position in Borr Drilling during the 4th quarter valued at about $10,718,000. Jane Street Group LLC grew its stake in shares of Borr Drilling by 842.5% during the 4th quarter. Jane Street Group LLC now owns 1,949,508 shares of the company's stock valued at $7,603,000 after purchasing an additional 1,742,670 shares during the period. Linden Advisors LP bought a new stake in shares of Borr Drilling during the 4th quarter valued at about $6,321,000. Lloyd Harbor Capital Management LLC bought a new stake in shares of Borr Drilling during the 4th quarter valued at about $5,220,000. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Borr Drilling during the 4th quarter valued at about $4,122,000. Institutional investors own 83.12% of the company's stock.

Borr Drilling Stock Performance

Shares of NYSE BORR traded down $0.06 during trading on Monday, hitting $2.91. The company had a trading volume of 3,830,657 shares, compared to its average volume of 5,928,497. The stock has a 50 day simple moving average of $2.20 and a 200 day simple moving average of $2.14. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.28 and a current ratio of 1.28. Borr Drilling Limited has a 12 month low of $1.55 and a 12 month high of $6.09. The firm has a market capitalization of $686.23 million, a P/E ratio of 13.83 and a beta of 1.98.

Borr Drilling (NYSE:BORR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. Borr Drilling had a return on equity of 5.46% and a net margin of 5.48%.The firm had revenue of $267.70 million for the quarter, compared to the consensus estimate of $265.81 million.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Fearnley Fonds downgraded Borr Drilling from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. BTIG Research downgraded Borr Drilling from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $9.00.

Borr Drilling Profile

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.