Himalaya Shipping Ltd. $HSHP Shares Sold by Hosking Partners LLP

Key Points

• Hosking Partners reduced its Himalaya Shipping stake by 9.3% in the third quarter, selling 170,089 shares and retaining 1.66 million shares worth approximately $28.8 million. Institutional investors collectively own 22.33% of HSHP.
• Himalaya Shipping reported quarterly revenue of $55.3 million and EPS of $0.52, with a 31.44% net margin and 32.83% return on equity. The company also increased its dividend to $0.28 per share from $0.25.
• Analyst sentiment is positive: Weiss Ratings and Clarkson Capital upgraded the stock, and the two analysts tracked by MarketBeat give HSHP a consensus “Buy” rating.

Hosking Partners LLP lessened its position in shares of Himalaya Shipping Ltd. (NYSE:HSHP - Free Report) by 9.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,659,097 shares of the company's stock after selling 170,089 shares during the quarter. Hosking Partners LLP owned about 3.56% of Himalaya Shipping worth $28,819,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Himalaya Shipping by 292.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company's stock worth $13,344,000 after acquiring an additional 750,944 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Himalaya Shipping by 230.4% during the 1st quarter. Bank of America Corp DE now owns 399,028 shares of the company's stock valued at $5,307,000 after acquiring an additional 278,273 shares during the last quarter. Globeflex Capital L P purchased a new position in shares of Himalaya Shipping in the second quarter valued at $4,257,000. Sei Investments Co. grew its holdings in shares of Himalaya Shipping by 425.7% in the first quarter. Sei Investments Co. now owns 122,313 shares of the company's stock valued at $1,627,000 after purchasing an additional 99,046 shares in the last quarter. Finally, Kercheville Advisors LLC purchased a new position in shares of Himalaya Shipping in the third quarter valued at $1,203,000. Institutional investors own 22.33% of the company's stock.

Himalaya Shipping Stock Performance

Himalaya Shipping stock opened at $16.95 on Thursday. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.19 and a quick ratio of 1.19. Himalaya Shipping Ltd. has a 1-year low of $7.37 and a 1-year high of $19.55. The firm has a market capitalization of $790.48 million, a P/E ratio of 15.00 and a beta of 1.36. The company's 50-day moving average is $17.38 and its 200 day moving average is $15.64.

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

Himalaya Shipping Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, October 27th. Stockholders of record on Monday, October 19th will be issued a $0.28 dividend. The ex-dividend date is Friday, October 16th. This is a positive change from Himalaya Shipping's previous dividend of $0.25.

Analyst Ratings Changes

HSHP has been the subject of several research reports. Weiss Ratings upgraded shares of Himalaya Shipping from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, September 21st. Clarkson Capital raised shares of Himalaya Shipping from a "neutral" rating to a "buy" rating in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has a consensus rating of "Buy".

About Himalaya Shipping

Himalaya Shipping Ltd. NYSE: HSHP is a dry bulk shipping company that owns and operates large oceangoing vessels designed to transport commodities in international trade. Its fleet is focused on Newcastlemax bulk carriers, which are primarily used to carry cargoes such as iron ore, coal and grain.

The company's vessels are designed with dual-fuel capability, allowing them to operate using liquefied natural gas (LNG) as well as conventional marine fuel. This technology is intended to support greater fuel flexibility and lower emissions compared with traditional bulk carriers, subject to fuel availability and operating conditions.

Himalaya Shipping was established in 2021 and is incorporated in Bermuda.

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