GAM Holding AG Decreases Holdings in Euronav NV (EURN)
GAM Holding AG lowered its position in Euronav NV (NYSE:EURN) by 4.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 829,412 shares of the shipping company’s stock after selling 36,227 shares during the period. GAM Holding AG’s holdings in Euronav were worth $6,753,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Euronav by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 148,865 shares of the shipping company’s stock worth $1,295,000 after acquiring an additional 7,207 shares during the last quarter. Wiley BROS. Aintree Capital LLC bought a new stake in Euronav in the 4th quarter worth $652,000. Bank of New York Mellon Corp grew its holdings in Euronav by 1,326.4% in the 4th quarter. Bank of New York Mellon Corp now owns 3,551,658 shares of the shipping company’s stock worth $24,613,000 after acquiring an additional 3,302,656 shares during the last quarter. Citigroup Inc. grew its holdings in Euronav by 6,189.6% in the 4th quarter. Citigroup Inc. now owns 565,816 shares of the shipping company’s stock worth $4,023,000 after acquiring an additional 556,820 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Euronav by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 165,588 shares of the shipping company’s stock worth $1,148,000 after acquiring an additional 8,635 shares during the last quarter. Institutional investors own 30.21% of the company’s stock.
Several research firms have recently commented on EURN. TheStreet raised shares of Euronav from a “d+” rating to a “c-” rating in a research report on Monday, April 15th. Zacks Investment Research raised shares of Euronav from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine raised shares of Euronav from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Morgan Stanley set a $11.00 target price on shares of Euronav and gave the stock a “buy” rating in a research report on Friday, February 15th. Finally, DNB Markets raised shares of Euronav from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $10.61.
Euronav (NYSE:EURN) last posted its earnings results on Tuesday, April 30th. The shipping company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). Euronav had a negative return on equity of 3.29% and a negative net margin of 7.01%. The company had revenue of $197.00 million during the quarter, compared to analysts’ expectations of $206.08 million. Equities analysts forecast that Euronav NV will post -0.12 EPS for the current fiscal year.
The firm also recently declared a semiannual dividend, which was paid on Friday, May 24th. Investors of record on Thursday, May 16th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, May 15th. This represents a yield of 1.5%.
Euronav Company Profile
Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.
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