Rovida Investment Management Ltd Makes New $5.07 Million Investment in Borr Drilling Limited (NYSE:BORR)

Rovida Investment Management Ltd acquired a new stake in Borr Drilling Limited (NYSE:BORR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,300,000 shares of the company’s stock, valued at approximately $5,070,000. Borr Drilling accounts for approximately 1.6% of Rovida Investment Management Ltd’s investment portfolio, making the stock its 14th largest position. Rovida Investment Management Ltd owned approximately 0.51% of Borr Drilling at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Borr Drilling during the 4th quarter worth about $59,000. Salvus Wealth Management LLC acquired a new position in Borr Drilling in the fourth quarter valued at approximately $59,000. Ballentine Partners LLC purchased a new stake in Borr Drilling in the 4th quarter worth approximately $83,000. Westend Capital Management LLC acquired a new stake in shares of Borr Drilling during the 4th quarter worth approximately $86,000. Finally, Cibc World Markets Corp purchased a new position in shares of Borr Drilling during the 4th quarter valued at approximately $87,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

Borr Drilling Stock Performance

BORR opened at $2.39 on Tuesday. The stock has a market cap of $602.41 million, a P/E ratio of 7.45 and a beta of 2.69. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a fifty day moving average price of $2.96 and a 200 day moving average price of $3.93. Borr Drilling Limited has a 1 year low of $2.08 and a 1 year high of $7.26.

Borr Drilling (NYSE:BORR) last posted its earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $263.10 million for the quarter, compared to analysts’ expectations of $247.78 million. Borr Drilling had a return on equity of 8.27% and a net margin of 8.12%.

Borr Drilling Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Monday, March 3rd. Borr Drilling’s payout ratio is 31.25%.

About Borr Drilling

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.