Virtu Financial LLC Trims Holdings in Nordic American Tankers Limited (NYSE:NAT)

Virtu Financial LLC cut its holdings in Nordic American Tankers Limited (NYSE:NAT) by 41.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,354 shares of the shipping company’s stock after selling 51,254 shares during the quarter. Virtu Financial LLC’s holdings in Nordic American Tankers were worth $180,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NAT. CenterBook Partners LP grew its position in shares of Nordic American Tankers by 88.0% in the 1st quarter. CenterBook Partners LP now owns 3,135,619 shares of the shipping company’s stock worth $7,714,000 after buying an additional 1,467,916 shares during the period. Bridgeway Capital Management LLC bought a new stake in Nordic American Tankers during the 4th quarter valued at about $2,072,000. Renaissance Technologies LLC increased its stake in Nordic American Tankers by 68.8% during the 4th quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company’s stock valued at $2,445,000 after purchasing an additional 398,700 shares in the last quarter. Squarepoint Ops LLC increased its stake in Nordic American Tankers by 2,001.0% during the 4th quarter. Squarepoint Ops LLC now owns 413,568 shares of the shipping company’s stock valued at $1,034,000 after purchasing an additional 393,884 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nordic American Tankers by 10.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,678,423 shares of the shipping company’s stock valued at $6,696,000 after purchasing an additional 246,365 shares in the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NAT. Wall Street Zen lowered shares of Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a report on Thursday, May 29th.

Nordic American Tankers Stock Performance

NAT opened at $2.85 on Friday. Nordic American Tankers Limited has a 12-month low of $2.13 and a 12-month high of $3.83. The company has a market cap of $603.49 million, a price-to-earnings ratio of 16.76 and a beta of -0.22. The company’s 50 day moving average is $2.76 and its 200 day moving average is $2.64. The company has a current ratio of 1.54, a quick ratio of 1.34 and a debt-to-equity ratio of 0.53.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, June 12th. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 9.8%. Nordic American Tankers’s dividend payout ratio (DPR) is 164.71%.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.