Insider Selling: Himalaya Shipping (NYSE:HSHP) Director Sells 300,000 Shares of Stock

Key Points

• Director Bjorn Andreas Freng Isaksen sold 300,000 shares at an average price of $13.40 on April 9 for $4.02M, cutting his stake by 51.72% to 280,000 shares.
• Himalaya Shipping has a market capitalization of $636.82M and a P/E of 35.92, with 50-day/200-day moving averages of $12.91/$10.14 and a 1‑year range of $4.41–$14.95.
• The company declared a $0.06 per share dividend payable April 27 (ex-dividend April 17) and recently reported last-quarter EPS of $0.29 (missing estimates by $0.01) on $42.1M in revenue with a 13.44% net margin.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) Director Bjorn Andreas Freng Isaksen sold 300,000 shares of the company's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $13.40, for a total transaction of $4,020,000.00. Following the completion of the sale, the director directly owned 280,000 shares of the company's stock, valued at $3,752,000. This represents a 51.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Himalaya Shipping Stock Performance

NYSE:HSHP opened at $13.65 on Friday. The company has a debt-to-equity ratio of 4.12, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $636.82 million, a price-to-earnings ratio of 35.92 and a beta of 1.65. The company's 50-day moving average is $12.91 and its two-hundred day moving average is $10.14. Himalaya Shipping Ltd. has a 1-year low of $4.41 and a 1-year high of $14.95.

Himalaya Shipping (NYSE:HSHP - Get Free Report) last posted its earnings results on Tuesday, February 10th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $42.10 million during the quarter, compared to analyst estimates of $41.80 million. Himalaya Shipping had a net margin of 13.44% and a return on equity of 11.02%.

Himalaya Shipping Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, April 27th. Stockholders of record on Monday, April 20th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 17th.

Institutional Trading of Himalaya Shipping

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hosking Partners LLP grew its stake in shares of Himalaya Shipping by 27.5% in the 3rd quarter. Hosking Partners LLP now owns 1,917,876 shares of the company's stock valued at $15,784,000 after purchasing an additional 414,216 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Himalaya Shipping in the fourth quarter valued at approximately $132,000. HRT Financial LP purchased a new stake in shares of Himalaya Shipping during the fourth quarter worth approximately $129,000. Creative Planning purchased a new stake in shares of Himalaya Shipping during the second quarter worth approximately $108,000. Finally, Sei Investments Co. acquired a new stake in shares of Himalaya Shipping during the second quarter worth $107,000. 22.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HSHP. Wall Street Zen upgraded Himalaya Shipping from a "hold" rating to a "buy" rating in a report on Saturday, March 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Himalaya Shipping in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold".

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.

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