Pinpoint Asset Management Singapore Pte. Ltd. Takes $486,000 Position in Himalaya Shipping Ltd. $HSHP

Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Himalaya Shipping Ltd. (NYSE:HSHP) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 53,407 shares of the company’s stock, valued at approximately $486,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HSHP. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Himalaya Shipping during the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets boosted its position in shares of Himalaya Shipping by 80.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock valued at $47,000 after acquiring an additional 2,519 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Himalaya Shipping by 326.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock valued at $52,000 after acquiring an additional 6,909 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of Himalaya Shipping during the 3rd quarter valued at about $86,000. Finally, Ballentine Partners LLC acquired a new position in shares of Himalaya Shipping during the 4th quarter valued at about $101,000. Institutional investors and hedge funds own 22.33% of the company’s stock.

Himalaya Shipping Trading Up 3.2%

NYSE HSHP opened at $15.25 on Friday. The firm’s 50-day moving average is $14.53 and its two-hundred day moving average is $12.15. Himalaya Shipping Ltd. has a 12 month low of $5.76 and a 12 month high of $16.69. The company has a debt-to-equity ratio of 4.23, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $711.18 million, a P/E ratio of 24.20 and a beta of 1.38.

Himalaya Shipping (NYSE:HSHP) last posted its earnings results on Friday, May 15th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Himalaya Shipping had a net margin of 20.28% and a return on equity of 18.28%. The company had revenue of $34.90 million during the quarter, compared to analyst estimates of $33.30 million.

Himalaya Shipping Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 22nd will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 19th. This is an increase from Himalaya Shipping’s previous dividend of $0.15.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Himalaya Shipping in a research report on Tuesday. One analyst has rated the stock with a Hold rating, According to MarketBeat, Himalaya Shipping has an average rating of “Hold”.

Insider Buying and Selling

In other Himalaya Shipping news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $13.40, for a total value of $4,020,000.00. Following the transaction, the director owned 280,000 shares of the company’s stock, valued at $3,752,000. This represents a 51.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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.