GSA Capital Partners LLP Boosts Holdings in Nordic American Tankers Limited $NAT

GSA Capital Partners LLP increased its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 44.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 241,337 shares of the shipping company’s stock after purchasing an additional 74,358 shares during the period. GSA Capital Partners LLP’s holdings in Nordic American Tankers were worth $1,337,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. SmartHarvest Portfolios LLC boosted its position in Nordic American Tankers by 18.0% in the 1st quarter. SmartHarvest Portfolios LLC now owns 13,666 shares of the shipping company’s stock valued at $80,000 after buying an additional 2,087 shares during the period. ProShare Advisors LLC increased its position in shares of Nordic American Tankers by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 37,492 shares of the shipping company’s stock worth $129,000 after acquiring an additional 2,416 shares during the period. Cerity Partners LLC raised its stake in shares of Nordic American Tankers by 4.7% in the fourth quarter. Cerity Partners LLC now owns 54,470 shares of the shipping company’s stock valued at $187,000 after acquiring an additional 2,449 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Nordic American Tankers by 8.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 44,606 shares of the shipping company’s stock valued at $153,000 after acquiring an additional 3,433 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in Nordic American Tankers by 23.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 18,201 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 3,450 shares during the period. 44.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NAT has been the topic of a number of analyst reports. Evercore lowered Nordic American Tankers from an “in-line” rating to an “underperform” rating and set a $4.50 price target on the stock. in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Nordic American Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $4.00.

Nordic American Tankers Price Performance

Shares of NYSE NAT opened at $6.81 on Tuesday. The stock’s 50-day simple moving average is $6.10 and its 200-day simple moving average is $5.61. The firm has a market capitalization of $1.44 billion, a PE ratio of 25.22 and a beta of -0.57. Nordic American Tankers Limited has a fifty-two week low of $2.82 and a fifty-two week high of $6.85. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.75 and a current ratio of 3.00.

Nordic American Tankers (NYSE:NAT) last issued its earnings results on Thursday, May 28th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $77.51 million during the quarter, compared to analysts’ expectations of $81.86 million. Nordic American Tankers had a net margin of 24.19% and a return on equity of 9.16%. As a group, equities research analysts forecast that Nordic American Tankers Limited will post 0.58 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 12.9%. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, June 10th. Nordic American Tankers’s payout ratio is presently 325.93%.

Nordic American Tankers Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.