Nuveen Asset Management LLC Sells 177,432 Shares of Borr Drilling Limited (NYSE:BORR)

Nuveen Asset Management LLC lowered its holdings in Borr Drilling Limited (NYSE:BORR - Free Report) by 22.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Encompass Capital Advisors LLC purchased a new stake in Borr Drilling during the 4th quarter valued at $10,718,000. Jane Street Group LLC grew its holdings in shares of Borr Drilling by 842.5% in the fourth quarter. Jane Street Group LLC now owns 1,949,508 shares of the company's stock worth $7,603,000 after acquiring an additional 1,742,670 shares during the period. Linden Advisors LP purchased a new stake in Borr Drilling during the fourth quarter valued at $6,321,000. Renaissance Technologies LLC lifted its holdings in Borr Drilling by 5,369.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,509,600 shares of the company's stock valued at $5,887,000 after acquiring an additional 1,482,000 shares during the period. Finally, Lloyd Harbor Capital Management LLC purchased a new position in Borr Drilling in the fourth quarter worth about $5,220,000. Hedge funds and other institutional investors own 83.12% of the company's stock.

Borr Drilling Stock Performance

Shares of Borr Drilling stock traded up $0.13 during trading hours on Friday, reaching $1.94. 4,159,523 shares of the stock traded hands, compared to its average volume of 3,985,215. Borr Drilling Limited has a one year low of $1.55 and a one year high of $7.09. The firm has a market capitalization of $464.26 million, a price-to-earnings ratio of 6.06 and a beta of 1.77. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.91. The company has a 50 day moving average price of $1.83 and a 200 day moving average price of $2.76.

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

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.