Pinpoint Asset Management Singapore Pte. Ltd. Makes New Investment in Himalaya Shipping Ltd. $HSHP

Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Himalaya Shipping Ltd. (NYSE:HSHP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,407 shares of the company’s stock, valued at approximately $486,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of America Corp DE increased its stake in Himalaya Shipping by 9.8% during the third quarter. Bank of America Corp DE now owns 26,900 shares of the company’s stock worth $221,000 after purchasing an additional 2,394 shares during the period. BNP Paribas Financial Markets increased its stake in Himalaya Shipping by 80.3% during the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock worth $47,000 after purchasing an additional 2,519 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in Himalaya Shipping during the third quarter worth about $33,000. Sei Investments Co. increased its stake in Himalaya Shipping by 22.8% during the third quarter. Sei Investments Co. now owns 22,812 shares of the company’s stock worth $188,000 after purchasing an additional 4,235 shares during the period. Finally, Millennium Management LLC increased its stake in Himalaya Shipping by 29.6% during the third quarter. Millennium Management LLC now owns 19,204 shares of the company’s stock worth $158,000 after purchasing an additional 4,382 shares during the period. 22.33% of the stock is currently owned by hedge funds and other institutional investors.

Himalaya Shipping Stock Up 3.2%

HSHP stock opened at $15.25 on Friday. The company’s 50 day moving average price is $14.53 and its 200 day moving average price is $12.15. The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.95 and a current ratio of 0.95. Himalaya Shipping Ltd. has a fifty-two week low of $5.76 and a fifty-two week high of $16.69. The firm has a market capitalization of $711.18 million, a price-to-earnings ratio of 24.20 and a beta of 1.38.

Himalaya Shipping (NYSE:HSHP) last released its earnings results on Friday, May 15th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Himalaya Shipping had a return on equity of 18.28% and a net margin of 20.28%.The firm had revenue of $34.90 million for the quarter, compared to analysts’ expectations of $33.30 million.

Himalaya Shipping Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 22nd will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, June 19th. This is a positive change from Himalaya Shipping’s previous dividend of $0.15.

Insider Buying and Selling at Himalaya Shipping

In related news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director directly owned 280,000 shares in the company, valued at approximately $3,752,000. This represents a 51.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wall Street Zen lowered shares of Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Himalaya Shipping in a research note on Tuesday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

About Himalaya Shipping

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.