Borr Drilling Limited (NYSE:BORR) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its holdings in Borr Drilling Limited (NYSE:BORR - Free Report) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 620,816 shares of the company's stock after selling 177,432 shares during the quarter. Nuveen Asset Management LLC owned 0.25% of Borr Drilling worth $2,421,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its position in Borr Drilling by 828.2% during the fourth quarter. Sterling Capital Management LLC now owns 7,593 shares of the company's stock worth $30,000 after purchasing an additional 6,775 shares in the last quarter. Natixis purchased a new stake in shares of Borr Drilling in the 4th quarter worth about $58,000. SBI Securities Co. Ltd. purchased a new stake in shares of Borr Drilling in the 4th quarter worth about $59,000. CacheTech Inc. acquired a new stake in Borr Drilling in the 4th quarter valued at about $81,000. Finally, Cibc World Markets Corp acquired a new stake in Borr Drilling in the 4th quarter valued at about $87,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

Borr Drilling Price Performance

BORR traded down $0.04 during midday trading on Thursday, reaching $1.81. 3,333,317 shares of the company's stock were exchanged, compared to its average volume of 5,727,155. Borr Drilling Limited has a 1-year low of $1.55 and a 1-year high of $7.09. The stock has a market capitalization of $431.95 million, a PE ratio of 5.64 and a beta of 1.77. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41. The business's 50-day moving average price is $1.84 and its 200 day moving average price is $2.79.

Borr Drilling (NYSE:BORR - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). The company had revenue of $217.50 million during the quarter, compared to analysts' expectations of $231.17 million. Borr Drilling had a net margin of 8.12% and a return on equity of 8.27%.

Borr Drilling Company 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.