Masters Capital Management LLC Has $11.54 Million Stock Holdings in Borr Drilling Limited $BORR

Masters Capital Management LLC decreased its position in Borr Drilling Limited (NYSE:BORR) by 31.0% during the 1st quarter, Holdings Channel reports. The firm owned 2,000,000 shares of the company’s stock after selling 900,000 shares during the quarter. Masters Capital Management LLC’s holdings in Borr Drilling were worth $11,540,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. AQR Capital Management LLC bought a new position in Borr Drilling during the 1st quarter valued at about $476,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Borr Drilling by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,927 shares of the company’s stock worth $309,000 after buying an additional 6,012 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Borr Drilling by 1,025.5% during the first quarter. Millennium Management LLC now owns 3,810,556 shares of the company’s stock worth $8,345,000 after buying an additional 3,471,979 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Borr Drilling during the first quarter worth approximately $186,000. Finally, Creative Planning raised its stake in shares of Borr Drilling by 13.1% in the second quarter. Creative Planning now owns 229,786 shares of the company’s stock valued at $421,000 after acquiring an additional 26,541 shares during the last quarter. Institutional investors own 83.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Borr Drilling

In related news, Director Thiago Mordehachvili sold 8,000,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $179,538,481.90. The trade was a 17.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.90% of the stock is currently owned by corporate insiders.

Borr Drilling Trading Up 0.1%

BORR opened at $4.23 on Monday. Borr Drilling Limited has a 1-year low of $1.86 and a 1-year high of $6.66. The stock has a market capitalization of $1.34 billion, a PE ratio of 28.23 and a beta of 1.00. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.82. The firm has a 50-day moving average price of $4.68 and a two-hundred day moving average price of $5.14.

Borr Drilling (NYSE:BORR) last announced its earnings results on Wednesday, May 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Borr Drilling had a return on equity of 2.88% and a net margin of 3.13%.The company had revenue of $247.00 million for the quarter, compared to analyst estimates of $253.35 million. As a group, equities analysts anticipate that Borr Drilling Limited will post -0.13 earnings per share for the current fiscal year.

About Borr Drilling

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.