Voloridge Investment Management LLC Cuts Stock Holdings in SFL Co. Ltd. (NYSE:SFL)

Voloridge Investment Management LLC decreased its holdings in SFL Co. Ltd. (NYSE:SFL - Free Report) by 27.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 557,995 shares of the shipping company's stock after selling 214,983 shares during the period. Voloridge Investment Management LLC owned 0.40% of SFL worth $5,703,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in SFL by 831.8% in the fourth quarter. Signaturefd LLC now owns 2,870 shares of the shipping company's stock worth $29,000 after purchasing an additional 2,562 shares in the last quarter. Jones Financial Companies Lllp boosted its position in SFL by 41.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,220 shares of the shipping company's stock valued at $33,000 after acquiring an additional 950 shares in the last quarter. Blue Trust Inc. boosted its position in SFL by 64.6% during the 4th quarter. Blue Trust Inc. now owns 3,257 shares of the shipping company's stock valued at $33,000 after acquiring an additional 1,278 shares in the last quarter. Sterling Capital Management LLC boosted its position in SFL by 883.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,275 shares of the shipping company's stock valued at $33,000 after acquiring an additional 2,942 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in SFL during the 4th quarter valued at $89,000. 28.59% of the stock is owned by institutional investors.

SFL Price Performance

SFL remained flat at $8.60 on Friday. The company's stock had a trading volume of 820,218 shares, compared to its average volume of 1,058,904. The firm's fifty day moving average is $8.11 and its 200-day moving average is $9.34. SFL Co. Ltd. has a 12 month low of $6.78 and a 12 month high of $14.35. The company has a quick ratio of 0.50, a current ratio of 0.38 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 8.51 and a beta of 0.47.

SFL (NYSE:SFL - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The shipping company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.04. SFL had a return on equity of 12.41% and a net margin of 14.45%. The business had revenue of $186.74 million during the quarter, compared to analyst estimates of $183.82 million. During the same quarter last year, the business posted $0.36 EPS. The company's revenue was down 18.5% on a year-over-year basis.

SFL Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.08 annualized dividend and a dividend yield of 12.56%. SFL's dividend payout ratio is presently 263.41%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut SFL from a "hold" rating to a "sell" rating in a research report on Thursday, February 13th.

About SFL

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.