Y Intercept Hong Kong Ltd Purchases Shares of 173,859 Borr Drilling Limited $BORR

Y Intercept Hong Kong Ltd acquired a new position in shares of Borr Drilling Limited (NYSE:BORR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 173,859 shares of the company’s stock, valued at approximately $1,003,000. Y Intercept Hong Kong Ltd owned approximately 0.06% of Borr Drilling at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC bought a new position in shares of Borr Drilling during the 1st quarter worth about $476,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Borr Drilling by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,927 shares of the company’s stock worth $309,000 after purchasing an additional 6,012 shares during the period. Millennium Management LLC grew its stake in shares of Borr Drilling by 1,025.5% in the 1st quarter. Millennium Management LLC now owns 3,810,556 shares of the company’s stock valued at $8,345,000 after purchasing an additional 3,471,979 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Borr Drilling in the 1st quarter worth approximately $186,000. Finally, Creative Planning lifted its position in shares of Borr Drilling by 13.1% during the 2nd quarter. Creative Planning now owns 229,786 shares of the company’s stock worth $421,000 after buying an additional 26,541 shares during the period. Institutional investors and hedge funds own 83.12% of the company’s stock.

Borr Drilling Stock Performance

NYSE BORR traded down $0.04 on Friday, hitting $4.33. 3,794,025 shares of the stock were exchanged, compared to its average volume of 5,321,526. Borr Drilling Limited has a 52 week low of $1.85 and a 52 week high of $6.66. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $1.37 billion, a PE ratio of 28.88 and a beta of 1.00. The business’s fifty day moving average is $5.05 and its 200 day moving average is $5.12.

Borr Drilling (NYSE:BORR) last released its quarterly earnings data on Wednesday, May 20th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Borr Drilling had a net margin of 3.13% and a return on equity of 2.88%. The company had revenue of $247.00 million during the quarter, compared to analyst estimates of $253.35 million. Research analysts anticipate that Borr Drilling Limited will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Thiago Mordehachvili sold 8,000,000 shares of Borr Drilling stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $4.70, for a total transaction of $37,600,000.00. Following the sale, the director directly owned 38,199,677 shares in the company, valued at $179,538,481.90. This trade represents a 17.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.90% of the company’s stock.

Analyst Upgrades and Downgrades

BORR has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Borr Drilling in a research note on Wednesday, June 24th. Wall Street Zen lowered Borr Drilling from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Fearnley Fonds raised shares of Borr Drilling from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Zacks Research upgraded Borr Drilling to a “hold” rating in a research report on Thursday, July 2nd. Finally, Capital One Financial set a $6.00 target price on shares of Borr Drilling and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Borr Drilling currently has an average rating of “Moderate Buy” and an average target price of $4.88.

Borr Drilling Profile

Borr Drilling is an international offshore drilling contractor providing premium jack-up drilling services to the oil and gas industry. Established in 2016 and incorporated in Bermuda with headquarters in Hamilton, the company is listed on the New York Stock Exchange under the ticker symbol BORR. Borr Drilling focuses exclusively on the ownership and operation of mobile offshore jack-up rigs, catering to exploration and production drilling projects in both mature and emerging hydrocarbon regions.

The company’s core business activities encompass the long-term contracting of high-specification jack-up rigs suitable for shallow-to-intermediate water depths.