173,859 Shares in Borr Drilling Limited $BORR Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in Borr Drilling Limited (NYSE:BORR) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 173,859 shares of the company’s stock, valued at approximately $1,003,000.

A number of other hedge funds also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its stake in Borr Drilling by 2,435.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock valued at $34,000 after purchasing an additional 8,133 shares during the last quarter. Inspire Advisors LLC purchased a new position in Borr Drilling during the 4th quarter valued at about $44,000. Regatta Capital Group LLC purchased a new position in Borr Drilling during the fourth quarter valued at approximately $47,000. Quadrature Capital Ltd bought a new position in shares of Borr Drilling in the fourth quarter worth $47,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Borr Drilling in the 4th quarter worth about $49,000. 83.12% of the stock is currently owned by institutional investors.

Borr Drilling Stock Performance

Shares of NYSE BORR traded down $0.04 during midday trading on Friday, hitting $4.33. 3,794,025 shares of the company’s stock traded hands, compared to its average volume of 5,321,526. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.63 and a current ratio of 1.63. Borr Drilling Limited has a 1 year low of $1.85 and a 1 year high of $6.66. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 28.88 and a beta of 1.00. The firm has a fifty day moving average of $5.05 and a 200 day moving average of $5.12.

Borr Drilling (NYSE:BORR) last posted its quarterly earnings data on Wednesday, May 20th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Borr Drilling had a net margin of 3.13% and a return on equity of 2.88%. The company had revenue of $247.00 million for the quarter, compared to analysts’ expectations of $253.35 million. On average, analysts forecast that Borr Drilling Limited will post -0.13 earnings per share for the current year.

Insider Transactions at Borr Drilling

In related news, Director Thiago Mordehachvili sold 8,000,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $4.70, for a total value of $37,600,000.00. Following the completion of the transaction, the director owned 38,199,677 shares of the company’s stock, valued at approximately $179,538,481.90. This trade represents a 17.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Borr Drilling from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Fearnley Fonds raised shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Capital One Financial set a $6.00 price objective on Borr Drilling and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Borr Drilling in a research report on Wednesday, June 24th. Finally, Zacks Research raised Borr Drilling to a “hold” rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Borr Drilling currently has a consensus rating of “Moderate Buy” and an average price target of $4.88.

Borr Drilling Company Profile

Borr Drilling is an international offshore drilling contractor providing premium jack-up drilling services to the oil and gas industry. Established in 2016 and incorporated in Bermuda with headquarters in Hamilton, the company is listed on the New York Stock Exchange under the ticker symbol BORR. Borr Drilling focuses exclusively on the ownership and operation of mobile offshore jack-up rigs, catering to exploration and production drilling projects in both mature and emerging hydrocarbon regions.

The company’s core business activities encompass the long-term contracting of high-specification jack-up rigs suitable for shallow-to-intermediate water depths.