SFL Co. Ltd. (NYSE:SFL) Sees Large Growth in Short Interest

SFL Co. Ltd. (NYSE:SFL) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,790,000 shares, a growth of 17.7% from the February 13th total of 2,370,000 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily volume of 1,110,000 shares, the short-interest ratio is currently 2.5 days.

Analyst Ratings Changes

SFL has been the subject of several analyst reports. Fearnley Fonds raised shares of SFL from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. StockNews.com cut shares of SFL from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th.

Institutional Investors Weigh In On SFL

Institutional investors have recently modified their holdings of the business. Signaturefd LLC grew its position in shares of SFL by 831.8% during the 4th quarter. Signaturefd LLC now owns 2,870 shares of the shipping company’s stock worth $29,000 after buying an additional 2,562 shares during the period. Public Employees Retirement System of Ohio bought a new position in SFL during the 3rd quarter worth approximately $34,000. Jones Financial Companies Lllp boosted its stake in SFL by 41.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,220 shares of the shipping company’s stock worth $33,000 after acquiring an additional 950 shares during the last quarter. Blue Trust Inc. boosted its stake in SFL by 64.6% during the 4th quarter. Blue Trust Inc. now owns 3,257 shares of the shipping company’s stock worth $33,000 after acquiring an additional 1,278 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its stake in SFL by 883.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,275 shares of the shipping company’s stock worth $33,000 after acquiring an additional 2,942 shares during the last quarter. Institutional investors and hedge funds own 28.59% of the company’s stock.

SFL Price Performance

SFL traded down $0.01 during midday trading on Thursday, hitting $8.55. The company had a trading volume of 227,868 shares, compared to its average volume of 904,376. SFL has a twelve month low of $8.06 and a twelve month high of $14.62. The firm’s 50-day simple moving average is $9.85 and its 200-day simple moving average is $10.47. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.50 and a current ratio of 0.38. The company has a market capitalization of $1.18 billion, a PE ratio of 8.46 and a beta of 0.67.

SFL Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 12.64%. The ex-dividend date of this dividend is Wednesday, March 12th. SFL’s dividend payout ratio is 106.93%.

SFL Company Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.