SFL Corporation Ltd. (NYSE:SFL) Short Interest Down 26.7% in December

SFL Corporation Ltd. (NYSE:SFL) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 3,246,734 shares, a drop of 26.7% from the December 15th total of 4,426,862 shares. Based on an average daily volume of 1,098,070 shares, the days-to-cover ratio is presently 3.0 days. Approximately 2.2% of the shares of the company are short sold. Approximately 2.2% of the shares of the company are short sold. Based on an average daily volume of 1,098,070 shares, the days-to-cover ratio is presently 3.0 days.

SFL Price Performance

Shares of NYSE:SFL traded down $0.21 on Friday, hitting $8.26. The company’s stock had a trading volume of 1,279,556 shares, compared to its average volume of 1,076,724. The company has a market capitalization of $1.20 billion, a PE ratio of -826.00 and a beta of 0.47. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.42 and a quick ratio of 0.42. The company has a 50-day simple moving average of $8.07 and a 200 day simple moving average of $8.15. SFL has a 1 year low of $6.73 and a 1 year high of $11.13.

SFL (NYSE:SFL) last announced its earnings results on Wednesday, November 12th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. The company had revenue of $178.21 million during the quarter, compared to analyst estimates of $172.45 million. SFL had a negative net margin of 0.20% and a positive return on equity of 3.05%. The firm’s quarterly revenue was down 30.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share.

SFL Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Friday, December 12th were given a $0.20 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.7%. SFL’s payout ratio is presently -8,000.00%.

Hedge Funds Weigh In On SFL

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in SFL by 27.2% in the second quarter. American Century Companies Inc. now owns 3,297,605 shares of the shipping company’s stock worth $27,469,000 after buying an additional 704,710 shares during the period. Credit Agricole S A purchased a new position in shares of SFL in the 3rd quarter valued at approximately $2,064,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of SFL by 7.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,806,744 shares of the shipping company’s stock valued at $23,380,000 after purchasing an additional 188,441 shares in the last quarter. Sigma Planning Corp grew its stake in SFL by 89.1% in the second quarter. Sigma Planning Corp now owns 233,577 shares of the shipping company’s stock worth $1,946,000 after purchasing an additional 110,042 shares during the period. Finally, Jane Street Group LLC raised its holdings in SFL by 122.0% in the first quarter. Jane Street Group LLC now owns 181,556 shares of the shipping company’s stock worth $1,489,000 after purchasing an additional 99,767 shares in the last quarter. Institutional investors own 28.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SFL has been the subject of several research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of SFL in a report on Monday, December 29th. BTIG Research increased their price target on SFL from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen cut SFL from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SFL presently has a consensus rating of “Hold” and a consensus target price of $11.00.

About SFL

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.