Globeflex Capital L P Buys New Stake in Himalaya Shipping Ltd. $HSHP

Globeflex Capital L P bought a new stake in Himalaya Shipping Ltd. (NYSE:HSHP) in the 2nd quarter, HoldingsChannel reports. The fund bought 318,651 shares of the company’s stock, valued at approximately $4,257,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE increased its position in shares of Himalaya Shipping by 230.4% during the first quarter. Bank of America Corp DE now owns 399,028 shares of the company’s stock worth $5,307,000 after purchasing an additional 278,273 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Himalaya Shipping in the 1st quarter worth $171,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Himalaya Shipping in the 1st quarter worth $379,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Himalaya Shipping by 292.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company’s stock worth $13,344,000 after purchasing an additional 750,944 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Himalaya Shipping by 425.7% during the 1st quarter. Sei Investments Co. now owns 122,313 shares of the company’s stock worth $1,627,000 after buying an additional 99,046 shares during the last quarter. 22.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Clarkson Capital raised Himalaya Shipping from a “neutral” rating to a “buy” rating in a research report on Thursday. Wall Street Zen lowered Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Finally, Weiss Ratings upgraded shares of Himalaya Shipping from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Himalaya Shipping currently has an average rating of “Buy”.

Himalaya Shipping Trading Down 0.2%

NYSE:HSHP opened at $16.56 on Monday. Himalaya Shipping Ltd. has a 12 month low of $7.37 and a 12 month high of $17.06. The firm has a fifty day simple moving average of $15.03 and a 200-day simple moving average of $14.21. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 4.00. The company has a market capitalization of $772.52 million, a P/E ratio of 14.65 and a beta of 1.37.

Himalaya Shipping (NYSE:HSHP) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.52 earnings per share for the quarter. Himalaya Shipping had a net margin of 31.44% and a return on equity of 32.83%. The firm had revenue of $55.30 million for the quarter.

Himalaya Shipping Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, August 27th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, August 20th.

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.