Insider Selling: Hafnia (NYSE:HAFN) CEO Sells 500,000 Shares of Stock
by Scott Moore · The Cerbat GemHafnia Limited (NYSE:HAFN – Get Free Report) CEO Mikael Opstun Skov sold 500,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $8.12, for a total value of $4,060,000.00. Following the sale, the chief executive officer directly owned 1,630,978 shares of the company’s stock, valued at $13,243,541.36. This represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Mikael Opstun Skov also recently made the following trade(s):
- On Monday, April 13th, Mikael Opstun Skov sold 500,000 shares of Hafnia stock. The stock was sold at an average price of $8.11, for a total value of $4,055,000.00.
Hafnia Stock Down 1.7%
Shares of HAFN stock traded down $0.14 during trading hours on Tuesday, reaching $8.12. The company had a trading volume of 1,389,038 shares, compared to its average volume of 1,725,326. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 11.94 and a beta of 0.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.53 and a quick ratio of 1.40. Hafnia Limited has a 12 month low of $4.12 and a 12 month high of $8.52. The business has a fifty day simple moving average of $7.25 and a 200-day simple moving average of $6.38.
Hafnia (NYSE:HAFN – Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $599.88 million during the quarter, compared to the consensus estimate of $285.64 million. Hafnia had a return on equity of 14.71% and a net margin of 35.54%.
Hafnia Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, March 6th were paid a $0.1762 dividend. This represents a $0.70 annualized dividend and a dividend yield of 8.7%. The ex-dividend date was Friday, March 6th. This is a positive change from Hafnia’s previous quarterly dividend of $0.15. Hafnia’s dividend payout ratio (DPR) is currently 102.94%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on HAFN. Weiss Ratings reissued a “hold (c-)” rating on shares of Hafnia in a research report on Wednesday, December 24th. Wall Street Zen downgraded shares of Hafnia from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Dnb Carnegie lowered shares of Hafnia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Hafnia has a consensus rating of “Moderate Buy”.
Get Our Latest Stock Report on HAFN
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. MHR Fund Management LLC increased its holdings in Hafnia by 24.0% in the 3rd quarter. MHR Fund Management LLC now owns 17,186,714 shares of the company’s stock worth $102,948,000 after acquiring an additional 3,321,182 shares during the last quarter. Millennium Management LLC lifted its holdings in Hafnia by 5,973.8% during the third quarter. Millennium Management LLC now owns 636,900 shares of the company’s stock valued at $3,815,000 after purchasing an additional 626,414 shares during the last quarter. Fearnley Asset Management AS purchased a new stake in Hafnia during the fourth quarter valued at about $3,185,000. Jane Street Group LLC boosted its position in Hafnia by 241.6% during the first quarter. Jane Street Group LLC now owns 815,341 shares of the company’s stock worth $3,392,000 after purchasing an additional 576,629 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Hafnia by 17.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,870,521 shares of the company’s stock worth $20,630,000 after purchasing an additional 571,909 shares during the period.
Hafnia Company Profile
Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.
The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.