124,608 Shares in Nordic American Tankers Limited (NYSE:NAT) Purchased by Virtu Financial LLC

Virtu Financial LLC bought a new stake in Nordic American Tankers Limited (NYSE:NAT) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 124,608 shares of the shipping company’s stock, valued at approximately $312,000.

Several other hedge funds also recently bought and sold shares of NAT. Raymond James Trust N.A. acquired a new position in Nordic American Tankers during the 3rd quarter worth about $37,000. Sequoia Financial Advisors LLC acquired a new position in Nordic American Tankers in the 4th quarter valued at about $26,000. Avantax Advisory Services Inc. purchased a new stake in Nordic American Tankers during the fourth quarter worth about $33,000. Flputnam Investment Management Co. acquired a new stake in shares of Nordic American Tankers during the fourth quarter worth about $45,000. Finally, Xponance Inc. boosted its stake in shares of Nordic American Tankers by 41.4% in the fourth quarter. Xponance Inc. now owns 18,586 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 5,439 shares during the period. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Trading Down 1.0 %

Shares of NYSE:NAT opened at $2.54 on Friday. Nordic American Tankers Limited has a 52 week low of $2.39 and a 52 week high of $4.40. The company’s 50 day moving average is $2.62 and its two-hundred day moving average is $2.95. The company has a market cap of $529.30 million, a PE ratio of 8.74 and a beta of -0.33. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36.

Nordic American Tankers (NYSE:NAT) last posted its earnings results on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $46.39 million during the quarter, compared to analysts’ expectations of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. Equities analysts predict that Nordic American Tankers Limited will post 0.24 earnings per share for the current fiscal year.

Nordic American Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 9.47%. The ex-dividend date of this dividend was Monday, March 10th. Nordic American Tankers’s dividend payout ratio (DPR) is presently 109.09%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NAT. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.00 price objective on shares of Nordic American Tankers in a research report on Friday, February 28th. StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a report on Monday.

About Nordic American Tankers

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.