Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Borr Drilling Limited (NYSE:BORR – Free Report) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 2,090,315 shares of the company’s stock, valued at approximately $12,061,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in Borr Drilling by 2,435.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 8,467 shares of the company’s stock worth $34,000 after purchasing an additional 8,133 shares during the last quarter. Inspire Advisors LLC bought a new stake in shares of Borr Drilling during the fourth quarter worth approximately $44,000. Regatta Capital Group LLC acquired a new position in Borr Drilling in the fourth quarter valued at approximately $47,000. Quadrature Capital Ltd acquired a new position in Borr Drilling in the fourth quarter valued at approximately $47,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Borr Drilling in the fourth quarter valued at approximately $49,000. 83.12% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Borr Drilling news, Director Thiago Mordehachvili sold 8,000,000 shares of Borr Drilling stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $4.70, for a total transaction of $37,600,000.00. Following the transaction, the director directly owned 38,199,677 shares in the company, valued at approximately $179,538,481.90. The trade was a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.90% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Analysis on Borr Drilling
Borr Drilling Stock Up 4.1%
Shares of NYSE:BORR opened at $4.49 on Friday. The company has a 50 day moving average price of $5.21 and a two-hundred day moving average price of $5.10. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $1.41 billion, a PE ratio of 29.90 and a beta of 1.00. Borr Drilling Limited has a 52 week low of $1.85 and a 52 week high of $6.66.
Borr Drilling (NYSE:BORR – Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Borr Drilling had a return on equity of 2.88% and a net margin of 3.13%.The firm had revenue of $247.00 million for the quarter, compared to the consensus estimate of $253.35 million.
Borr Drilling Company 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.
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