Sigma Planning Corp Sells 57,485 Shares of SFL Co. Ltd. (NYSE:SFL)

Sigma Planning Corp decreased its position in shares of SFL Co. Ltd. (NYSE:SFL) by 73.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,761 shares of the shipping company’s stock after selling 57,485 shares during the quarter. Sigma Planning Corp’s holdings in SFL were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in shares of SFL by 1,375.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company’s stock worth $50,000 after purchasing an additional 4,002 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of SFL by 272.4% in the third quarter. Nisa Investment Advisors LLC now owns 45,990 shares of the shipping company’s stock valued at $532,000 after buying an additional 33,640 shares during the period. International Assets Investment Management LLC grew its position in SFL by 1,252.6% during the third quarter. International Assets Investment Management LLC now owns 811,439 shares of the shipping company’s stock worth $9,388,000 after buying an additional 751,449 shares in the last quarter. Albert D Mason Inc. raised its holdings in SFL by 66.9% in the 3rd quarter. Albert D Mason Inc. now owns 85,885 shares of the shipping company’s stock valued at $994,000 after acquiring an additional 34,413 shares in the last quarter. Finally, Calton & Associates Inc. bought a new stake in shares of SFL during the 3rd quarter valued at $176,000. Institutional investors and hedge funds own 28.59% of the company’s stock.

SFL Stock Performance

Shares of SFL stock opened at $10.39 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.93. The company has a market cap of $1.44 billion, a PE ratio of 9.36 and a beta of 0.68. The company has a 50 day moving average of $11.07 and a 200-day moving average of $12.32. SFL Co. Ltd. has a 1-year low of $10.01 and a 1-year high of $14.62.

SFL (NYSE:SFL) last released its earnings results on Wednesday, November 6th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). SFL had a return on equity of 14.61% and a net margin of 16.03%. The business had revenue of $255.30 million for the quarter, compared to the consensus estimate of $243.98 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis.

SFL Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 10.39%. The ex-dividend date is Friday, December 13th. SFL’s payout ratio is 97.30%.

Wall Street Analyst Weigh In

Separately, Pareto Securities upgraded SFL from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th.

About SFL

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.