SFL Corporation Ltd. $SFL Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of SFL Corporation Ltd. (NYSE:SFL) by 43.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 334,166 shares of the shipping company’s stock after selling 254,429 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in SFL were worth $2,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. DAVENPORT & Co LLC increased its stake in shares of SFL by 9.3% in the second quarter. DAVENPORT & Co LLC now owns 13,722 shares of the shipping company’s stock worth $114,000 after acquiring an additional 1,166 shares during the period. Signaturefd LLC boosted its holdings in SFL by 65.3% in the second quarter. Signaturefd LLC now owns 3,392 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 1,340 shares during the last quarter. Brighton Jones LLC grew its position in SFL by 8.2% during the 4th quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company’s stock worth $198,000 after purchasing an additional 1,474 shares during the period. Parallel Advisors LLC raised its stake in shares of SFL by 43.1% during the 2nd quarter. Parallel Advisors LLC now owns 6,010 shares of the shipping company’s stock valued at $50,000 after buying an additional 1,810 shares during the last quarter. Finally, Quarry LP raised its stake in shares of SFL by 183.6% during the 1st quarter. Quarry LP now owns 3,706 shares of the shipping company’s stock valued at $30,000 after buying an additional 2,399 shares during the last quarter. 28.59% of the stock is owned by hedge funds and other institutional investors.

SFL Price Performance

NYSE:SFL opened at $8.18 on Friday. The stock has a market capitalization of $1.19 billion, a PE ratio of 31.44 and a beta of 0.45. SFL Corporation Ltd. has a 52 week low of $6.73 and a 52 week high of $11.14. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 1.97. The stock’s 50-day moving average price is $7.56 and its 200-day moving average price is $8.31.

SFL (NYSE:SFL) last issued its quarterly earnings results on Wednesday, November 12th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $175.24 million for the quarter, compared to the consensus estimate of $172.45 million. SFL had a return on equity of 6.67% and a net margin of 3.97%.SFL’s revenue for the quarter was down 30.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 earnings per share.

SFL Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Friday, December 12th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.80 dividend on an annualized basis and a yield of 9.8%. SFL’s dividend payout ratio (DPR) is currently -8,000.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings downgraded SFL from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. BTIG Research upped their price objective on SFL from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

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.