Himalaya Shipping (NYSE:HSHP) Director Sells $4,020,000.00 in Stock
by Sarita Garza · The Markets DailyHimalaya Shipping Ltd. (NYSE:HSHP – Get Free Report) Director Bjorn Andreas Freng Isaksen sold 300,000 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $13.40, for a total transaction of $4,020,000.00. Following the transaction, the director owned 280,000 shares of the company’s stock, valued at approximately $3,752,000. The trade was a 51.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Himalaya Shipping Stock Down 3.1%
Shares of NYSE:HSHP opened at $13.65 on Friday. The company has a market cap of $636.82 million, a price-to-earnings ratio of 35.92 and a beta of 1.65. The firm’s 50-day simple moving average is $12.91 and its 200-day simple moving average is $10.14. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 4.12. Himalaya Shipping Ltd. has a fifty-two week low of $4.41 and a fifty-two week high of $14.95.
Himalaya Shipping (NYSE:HSHP – Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $42.10 million for the quarter, compared to analysts’ expectations of $41.80 million. Himalaya Shipping had a return on equity of 11.02% and a net margin of 13.44%.
Himalaya Shipping Dividend Announcement
The firm also recently announced a dividend, which will be paid on Monday, April 27th. Stockholders of record on Monday, April 20th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 17th.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in Himalaya Shipping by 77.5% in the fourth quarter. Invesco Ltd. now owns 22,800 shares of the company’s stock valued at $207,000 after buying an additional 9,952 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Himalaya Shipping during the 4th quarter worth approximately $273,000. Susquehanna Portfolio Strategies LLC purchased a new stake in shares of Himalaya Shipping during the 4th quarter worth approximately $397,000. Quadrature Capital Ltd grew its holdings in shares of Himalaya Shipping by 9.7% in the 4th quarter. Quadrature Capital Ltd now owns 31,449 shares of the company’s stock worth $286,000 after acquiring an additional 2,777 shares during the period. Finally, Numerai GP LLC acquired a new stake in shares of Himalaya Shipping in the 4th quarter worth approximately $461,000. 22.33% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
HSHP has been the topic of a number of analyst reports. Wall Street Zen upgraded Himalaya Shipping from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Himalaya Shipping in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Himalaya Shipping has an average rating of “Hold”.
Read Our Latest Stock Report on Himalaya Shipping
Himalaya Shipping Company Profile
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.