Insider Selling: DHT (NYSE:DHT) Insider Sells 25,000 Shares

Key Points

• DHT insider Jon Stephen Eglin sold 25,000 shares at an average price of $20.35, generating $508,750 and reducing his ownership by 7.7% to 299,622 shares. He had also sold 50,000 shares two days earlier.
• DHT reported strong quarterly results, with earnings of $1.22 per share and revenue of $254.96 million, representing 174.8% year-over-year revenue growth.
• The company increased its quarterly dividend to $1.22 per share, equivalent to an annualized yield of approximately 24.7%, while analysts maintain a “Moderate Buy” consensus rating.

DHT Holdings, Inc. (NYSE:DHT - Get Free Report) insider Jon Stephen Eglin sold 25,000 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $20.35, for a total transaction of $508,750.00. Following the completion of the sale, the insider directly owned 299,622 shares in the company, valued at $6,097,307.70. This trade represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jon Stephen Eglin also recently made the following trade(s):

• On Wednesday, August 19th, Jon Stephen Eglin sold 50,000 shares of DHT stock. The shares were sold at an average price of $19.99, for a total value of $999,500.00.

DHT Stock Down 0.4%

Shares of NYSE:DHT opened at $19.74 on Monday. The firm has a market capitalization of $3.18 billion, a PE ratio of 6.71 and a beta of -0.11. The business has a 50 day simple moving average of $18.30 and a two-hundred day simple moving average of $17.78. DHT Holdings, Inc. has a 1 year low of $10.83 and a 1 year high of $20.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.64 and a quick ratio of 3.32.

DHT (NYSE:DHT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.04. DHT had a return on equity of 39.40% and a net margin of 65.52%.The firm had revenue of $254.96 million for the quarter, compared to the consensus estimate of $247.17 million. During the same period in the prior year, the business posted $0.35 earnings per share. The company's revenue for the quarter was up 174.8% on a year-over-year basis.

DHT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be paid a $1.22 dividend. The ex-dividend date is Monday, August 17th. This is a positive change from DHT's previous quarterly dividend of $0.64. This represents a $4.88 dividend on an annualized basis and a yield of 24.7%. DHT's payout ratio is 165.99%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DHT shares. Wall Street Zen raised shares of DHT from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of DHT from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, August 7th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in DHT by 358.7% during the 2nd quarter. California State Teachers Retirement System now owns 33,589 shares of the shipping company's stock valued at $555,000 after purchasing an additional 26,266 shares in the last quarter. Raiffeisen Bank International AG increased its stake in shares of DHT by 42.4% during the second quarter. Raiffeisen Bank International AG now owns 110,031 shares of the shipping company's stock valued at $1,819,000 after buying an additional 32,765 shares during the period. AXQ Capital LP bought a new stake in shares of DHT in the second quarter valued at about $641,000. Triumph Capital Management lifted its stake in DHT by 155.0% in the second quarter. Triumph Capital Management now owns 3,697 shares of the shipping company's stock worth $61,000 after acquiring an additional 2,247 shares during the period. Finally, Headlands Technologies LLC bought a new position in DHT during the 2nd quarter worth about $299,000. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

DHT Company Profile

DHT Holdings, Inc NYSE: DHT is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company's core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source