SFL Co. Ltd. (NYSE:SFL) Sees Large Growth in Short Interest

SFL Co. Ltd. (NYSE:SFL) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,790,000 shares, an increase of 17.7% from the February 13th total of 2,370,000 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is currently 2.5 days.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SFL shares. StockNews.com cut SFL from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Fearnley Fonds raised SFL from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st.

SFL Stock Performance

NYSE SFL opened at $8.50 on Friday. The firm has a 50-day moving average price of $9.81 and a two-hundred day moving average price of $10.45. SFL has a 12-month low of $8.06 and a 12-month high of $14.62. The company has a market capitalization of $1.24 billion, a P/E ratio of 8.41 and a beta of 0.67. The company has a quick ratio of 0.50, a current ratio of 0.38 and a debt-to-equity ratio of 1.91.

SFL Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 12.71%. The ex-dividend date of this dividend is Wednesday, March 12th. SFL’s dividend payout ratio (DPR) is currently 106.93%.

Institutional Investors Weigh In On SFL

A number of large investors have recently added to or reduced their stakes in SFL. Victory Capital Management Inc. lifted its position in shares of SFL by 2,095.5% during the 4th quarter. Victory Capital Management Inc. now owns 450,311 shares of the shipping company’s stock valued at $4,602,000 after acquiring an additional 429,800 shares during the period. Nuveen Asset Management LLC lifted its position in SFL by 27.6% during the fourth quarter. Nuveen Asset Management LLC now owns 947,311 shares of the shipping company’s stock worth $9,682,000 after purchasing an additional 204,884 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in SFL by 39.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 601,356 shares of the shipping company’s stock worth $6,146,000 after buying an additional 170,044 shares in the last quarter. Vanguard Group Inc. increased its holdings in SFL by 8.7% in the 4th quarter. Vanguard Group Inc. now owns 1,862,370 shares of the shipping company’s stock valued at $19,033,000 after buying an additional 149,020 shares during the period. Finally, Northern Trust Corp raised its position in shares of SFL by 17.5% in the 4th quarter. Northern Trust Corp now owns 910,484 shares of the shipping company’s stock valued at $9,305,000 after buying an additional 135,768 shares in the last quarter. Institutional investors and hedge funds own 28.59% of the company’s stock.

SFL Company Profile

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.