Jump Financial LLC Purchases 81,724 Shares of Nordic American Tankers Limited $NAT

Key Points

• Jump Financial LLC increased its stake in Nordic American Tankers Limited by 44.7%, purchasing an additional 81,724 shares to own 264,617 shares, valued at approximately $651,000.
• The company has announced a quarterly dividend of $0.10 per share, which represents a yield of 12.8%, reflecting a significant increase from the previous dividend of $0.07.
• Despite a recent rise in stock price of 3.5%, Nordic American Tankers reported a quarterly loss of ($0.02) earnings per share, missing analysts' expectations.

Jump Financial LLC increased its position in shares of Nordic American Tankers Limited (NYSE:NAT - Free Report) by 44.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 264,617 shares of the shipping company's stock after purchasing an additional 81,724 shares during the period. Jump Financial LLC owned approximately 0.12% of Nordic American Tankers worth $651,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Red Door Wealth Management LLC bought a new stake in Nordic American Tankers in the first quarter worth about $39,000. Watts Gwilliam & Co. LLC purchased a new stake in shares of Nordic American Tankers in the first quarter worth approximately $49,000. PNC Financial Services Group Inc. lifted its stake in shares of Nordic American Tankers by 312.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 21,974 shares of the shipping company's stock worth $54,000 after acquiring an additional 16,644 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Nordic American Tankers by 34.0% during the 1st quarter. Cerity Partners LLC now owns 22,072 shares of the shipping company's stock worth $54,000 after acquiring an additional 5,605 shares during the last quarter. Finally, Pettinga Financial Advisors LLC boosted its holdings in Nordic American Tankers by 42.0% during the 1st quarter. Pettinga Financial Advisors LLC now owns 23,650 shares of the shipping company's stock valued at $58,000 after acquiring an additional 7,000 shares during the period. 44.29% of the stock is currently owned by institutional investors.

Nordic American Tankers Stock Up 3.5%

Shares of NYSE:NAT opened at $3.12 on Monday. The business's 50 day moving average is $2.80 and its 200 day moving average is $2.66. The stock has a market cap of $659.60 million, a P/E ratio of 44.50 and a beta of -0.22. Nordic American Tankers Limited has a 52-week low of $2.13 and a 52-week high of $3.83. The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.53.

Nordic American Tankers (NYSE:NAT - Get Free Report) last issued its earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). Nordic American Tankers had a return on equity of 2.64% and a net margin of 7.58%.The firm had revenue of $40.15 million during the quarter, compared to analysts' expectations of $53.35 million. Sell-side analysts predict that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 12.8%. The ex-dividend date is Friday, September 12th. This is a positive change from Nordic American Tankers's previous quarterly dividend of $0.07. Nordic American Tankers's dividend payout ratio (DPR) is currently 400.00%.

Wall Street Analyst Weigh In

NAT has been the topic of a number of recent analyst reports. Wall Street Zen lowered Nordic American Tankers from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Jefferies Financial Group restated a "hold" rating and issued a $3.00 price target on shares of Nordic American Tankers in a report on Thursday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $3.00.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.

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