Mikael Opstun Skov Sells 500,000 Shares of Hafnia (NYSE:HAFN) Stock

Key Points

• CEO Mikael Opstun Skov sold 500,000 shares on April 13 and another 500,000 on April 10 (1,000,000 total), generating about $8.115 million in proceeds and reducing his stake by ~30.66% to 1,130,978 shares valued at ~$9.17 million.
• Hafnia raised its quarterly dividend to $0.1762 (annualized $0.70) for an 8.7% yield, but the dividend payout ratio is high at 102.94%, which may raise sustainability concerns.
• The company reported quarterly EPS of $0.22 (in line with estimates) and strong revenue of $599.9 million, while the stock trades around $8.12 with a market cap of ~$4.16 billion and a PE of ~11.94.

Hafnia Limited (NYSE:HAFN - Get Free Report) CEO Mikael Opstun Skov sold 500,000 shares of Hafnia stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $8.11, for a total transaction of $4,055,000.00. Following the transaction, the chief executive officer directly owned 1,130,978 shares in the company, valued at approximately $9,172,231.58. The trade was a 30.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Mikael Opstun Skov also recently made the following trade(s):

• On Friday, April 10th, Mikael Opstun Skov sold 500,000 shares of Hafnia stock. The stock was sold at an average price of $8.12, for a total value of $4,060,000.00.

Hafnia Stock Down 1.7%

NYSE HAFN traded down $0.14 during midday trading on Tuesday, hitting $8.12. 1,389,038 shares of the company traded hands, compared to its average volume of 1,725,326. Hafnia Limited has a 52 week low of $4.12 and a 52 week high of $8.52. The company's 50-day simple moving average is $7.25 and its 200-day simple moving average is $6.38. The company has a market cap of $4.16 billion, a PE ratio of 11.94 and a beta of 0.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.53 and a quick ratio of 1.40.

Hafnia (NYSE:HAFN - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $599.88 million during the quarter, compared to analyst estimates of $285.64 million. Hafnia had a return on equity of 14.71% and a net margin of 35.54%.

Hafnia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, March 6th were issued a $0.1762 dividend. This is a boost from Hafnia's previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a yield of 8.7%. The ex-dividend date was Friday, March 6th. Hafnia's dividend payout ratio is presently 102.94%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HAFN. Fearnley Asset Management AS purchased a new position in Hafnia in the 4th quarter worth $3,185,000. Aristides Capital LLC acquired a new position in shares of Hafnia in the fourth quarter valued at about $179,000. Virtu Financial LLC acquired a new position in shares of Hafnia in the fourth quarter valued at about $174,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Hafnia in the fourth quarter worth about $80,000. Finally, Mackenzie Financial Corp raised its stake in shares of Hafnia by 18.3% in the fourth quarter. Mackenzie Financial Corp now owns 240,088 shares of the company's stock worth $1,297,000 after purchasing an additional 37,138 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen cut shares of Hafnia from a "buy" rating to a "hold" rating in a report on Sunday, March 22nd. Dnb Carnegie cut shares of Hafnia from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 12th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Hafnia in a research note on Wednesday, December 24th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Hafnia presently has a consensus rating of "Moderate Buy".

Hafnia Company Profile

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.

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