Townsquare Capital LLC Has $7.82 Million Holdings in Valaris Limited (NYSE:VAL)

Townsquare Capital LLC boosted its stake in Valaris Limited (NYSE:VAL) by 13.6% in the third quarter, Holdings Channel reports. The firm owned 140,172 shares of the company’s stock after purchasing an additional 16,829 shares during the quarter. Townsquare Capital LLC’s holdings in Valaris were worth $7,815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Valaris by 180.8% in the first quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 235 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in Valaris in the second quarter valued at about $204,000. Choreo LLC acquired a new position in Valaris in the second quarter valued at about $204,000. Scientech Research LLC acquired a new position in Valaris in the second quarter valued at about $211,000. Finally, SkyView Investment Advisors LLC bought a new position in Valaris in the second quarter valued at about $224,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Valaris Stock Performance

NYSE:VAL opened at $45.57 on Thursday. The stock has a market cap of $3.24 billion, a P/E ratio of 3.13 and a beta of 1.17. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average is $51.41 and its 200-day moving average is $63.28. Valaris Limited has a 1-year low of $45.42 and a 1-year high of $84.20.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays decreased their target price on Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Citigroup decreased their target price on Valaris from $71.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday. Benchmark cut Valaris from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Finally, Susquehanna decreased their target price on Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.83.

Insider Transactions at Valaris

In related news, SVP Davor Vukadin sold 15,403 shares of Valaris stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.64, for a total value of $872,425.92. Following the transaction, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at $755,237.76. The trade was a 53.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.77, for a total value of $1,450,020.00. Following the completion of the transaction, the senior vice president now directly owns 24,388 shares in the company, valued at approximately $1,360,118.76. This represents a 51.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,403 shares of company stock worth $4,028,246. Insiders own 0.12% of the company’s stock.

Valaris Profile

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.