Trexquant Investment LP Has $1.39 Million Holdings in SFL Corporation Ltd. $SFL

Key Points

• Trexquant Investment LP has significantly reduced its stake in SFL Corporation Ltd. by 59.8%, now holding 168,853 shares after selling 251,092 shares in the first quarter.
• SFL recently reported earnings of $0.01 per share with revenue of $192.59 million, slightly exceeding analyst expectations, but down from $0.16 EPS from the same quarter last year.
• The company declared a quarterly dividend of $0.20 per share, culminating in an annualized yield of 9.7%, although its dividend payout ratio stands at a high 415.38%.

Trexquant Investment LP cut its position in SFL Corporation Ltd. (NYSE:SFL - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 168,853 shares of the shipping company's stock after selling 251,092 shares during the period. Trexquant Investment LP owned about 0.12% of SFL worth $1,385,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in SFL by 636.8% in the first quarter. GAMMA Investing LLC now owns 4,723 shares of the shipping company's stock worth $39,000 after purchasing an additional 4,082 shares during the period. Farther Finance Advisors LLC raised its holdings in SFL by 39.6% in the first quarter. Farther Finance Advisors LLC now owns 5,986 shares of the shipping company's stock worth $49,000 after purchasing an additional 1,698 shares during the period. Bessemer Group Inc. acquired a new stake in SFL in the first quarter worth $76,000. Paragon Capital Management Inc. acquired a new stake in SFL in the first quarter worth $94,000. Finally, DAVENPORT & Co LLC raised its holdings in SFL by 16.2% in the first quarter. DAVENPORT & Co LLC now owns 12,556 shares of the shipping company's stock worth $103,000 after purchasing an additional 1,750 shares during the period. 28.59% of the stock is currently owned by institutional investors and hedge funds.

SFL Trading Up 0.4%

SFL traded up $0.04 during mid-day trading on Monday, hitting $8.27. The stock had a trading volume of 1,115,077 shares, compared to its average volume of 1,731,629. The stock's fifty day simple moving average is $8.83 and its 200-day simple moving average is $8.52. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.30 and a quick ratio of 0.45. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 31.79 and a beta of 0.55. SFL Corporation Ltd. has a 1-year low of $6.78 and a 1-year high of $11.85.

SFL (NYSE:SFL - Get Free Report) last posted its earnings results on Tuesday, August 19th. The shipping company reported $0.01 earnings per share for the quarter. The company had revenue of $192.59 million for the quarter, compared to analyst estimates of $192.40 million. SFL had a net margin of 3.97% and a return on equity of 6.67%. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share.

SFL Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, September 12th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 9.7%. The ex-dividend date is Friday, September 12th. SFL's dividend payout ratio is 415.38%.

SFL Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.