TT International Asset Management LTD Purchases Shares of 254,000 Borr Drilling Limited $BORR

Key Points

• TT International Asset Management LTD bought a new stake of 254,000 shares of Borr Drilling in Q4 (≈$1.024M), making BORR about 0.2% of TT’s portfolio and TT owning ≈0.08% of the company.
• Borr Drilling beat Q4 estimates with EPS of $0.00 (vs. -$0.03 est.) and revenue of $259.4M (vs. $238.65M est.), producing a 4.41% net margin.
• Analysts are mixed but bearish on balance—MarketBeat shows a consensus "Reduce" rating with an average price target of $4.33—while institutional investors hold ~83.12% of the stock and its 12-month range is $1.55–$6.25.

TT International Asset Management LTD purchased a new stake in Borr Drilling Limited (NYSE:BORR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 254,000 shares of the company's stock, valued at approximately $1,024,000. Borr Drilling accounts for approximately 0.2% of TT International Asset Management LTD's holdings, making the stock its 28th largest holding. TT International Asset Management LTD owned approximately 0.08% of Borr Drilling as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BORR. Oak Thistle LLC purchased a new position in Borr Drilling in the 3rd quarter valued at approximately $29,000. Baader Bank Aktiengesellschaft purchased a new position in Borr Drilling in the 3rd quarter valued at approximately $30,000. Jamison Private Wealth Management Inc. purchased a new position in Borr Drilling in the 3rd quarter valued at approximately $31,000. Federated Hermes Inc. purchased a new position in Borr Drilling in the 3rd quarter valued at approximately $35,000. Finally, Interchange Capital Partners LLC purchased a new position in Borr Drilling in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.12% of the company's stock.

Borr Drilling Price Performance

Shares of NYSE:BORR opened at $5.90 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market capitalization of $1.86 billion, a P/E ratio of 34.68 and a beta of 1.10. Borr Drilling Limited has a 12 month low of $1.55 and a 12 month high of $6.25. The company's fifty day moving average price is $5.57 and its 200 day moving average price is $4.25.

Borr Drilling (NYSE:BORR - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.00 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.03. The company had revenue of $259.40 million for the quarter, compared to analyst estimates of $238.65 million. Borr Drilling had a net margin of 4.41% and a return on equity of 4.14%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Borr Drilling from $6.00 to $6.25 and gave the stock a "neutral" rating in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Borr Drilling from a "sell" rating to a "hold" rating in a research report on Sunday, April 5th. Finally, Weiss Ratings cut shares of Borr Drilling from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, March 27th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $4.33.

Borr Drilling Profile

Borr Drilling is an international offshore drilling contractor providing premium jack-up drilling services to the oil and gas industry. Established in 2016 and incorporated in Bermuda with headquarters in Hamilton, the company is listed on the New York Stock Exchange under the ticker symbol BORR. Borr Drilling focuses exclusively on the ownership and operation of mobile offshore jack-up rigs, catering to exploration and production drilling projects in both mature and emerging hydrocarbon regions.

The company's core business activities encompass the long-term contracting of high-specification jack-up rigs suitable for shallow-to-intermediate water depths.

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