Los Angeles Capital Management LLC Makes New Investment in Himalaya Shipping Ltd. $HSHP

Los Angeles Capital Management LLC purchased a new stake in shares of Himalaya Shipping Ltd. (NYSE:HSHP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,965 shares of the company’s stock, valued at approximately $69,000.

Several other large investors have also recently bought and sold shares of HSHP. Rhumbline Advisers boosted its holdings in shares of Himalaya Shipping by 5.6% in the first quarter. Rhumbline Advisers now owns 39,513 shares of the company’s stock valued at $217,000 after acquiring an additional 2,110 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Himalaya Shipping by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 62,184 shares of the company’s stock worth $341,000 after buying an additional 2,170 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Himalaya Shipping by 42.5% in the first quarter. MetLife Investment Management LLC now owns 18,081 shares of the company’s stock valued at $99,000 after buying an additional 5,389 shares during the period. Deutsche Bank AG grew its holdings in Himalaya Shipping by 2,342.1% during the first quarter. Deutsche Bank AG now owns 19,097 shares of the company’s stock worth $105,000 after acquiring an additional 18,315 shares during the period. Finally, Nuveen LLC acquired a new stake in Himalaya Shipping in the 1st quarter valued at about $392,000. Institutional investors and hedge funds own 22.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on HSHP shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Himalaya Shipping in a report on Wednesday, October 8th. Wall Street Zen lowered Himalaya Shipping from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Himalaya Shipping currently has a consensus rating of “Hold”.

Himalaya Shipping Price Performance

NYSE HSHP opened at $8.26 on Wednesday. The company has a debt-to-equity ratio of 4.19, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $329.13 million, a price-to-earnings ratio of 75.05 and a beta of 1.94. The company has a 50 day simple moving average of $8.16 and a 200-day simple moving average of $7.16. Himalaya Shipping Ltd. has a 52-week low of $4.29 and a 52-week high of $8.95.

Himalaya Shipping (NYSE:HSHP) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $37.40 million for the quarter, compared to analyst estimates of $41.45 million. Himalaya Shipping had a net margin of 4.39% and a return on equity of 3.30%.

Himalaya Shipping Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, November 14th. Himalaya Shipping’s dividend payout ratio is presently 45.45%.

Himalaya Shipping Profile

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.