Kovack Advisors Inc. Sells 1,933 Shares of TORM plc (NASDAQ:TRMD)

Kovack Advisors Inc. reduced its holdings in TORM plc (NASDAQ:TRMD) by 9.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 17,759 shares of the company’s stock after selling 1,933 shares during the quarter. Kovack Advisors Inc.’s holdings in TORM were worth $345,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Y Intercept Hong Kong Ltd raised its position in TORM by 174.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 43,219 shares of the company’s stock worth $841,000 after purchasing an additional 27,465 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of TORM by 26.1% in the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock valued at $208,000 after buying an additional 2,219 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of TORM during the fourth quarter worth about $312,000. Atomi Financial Group Inc. lifted its stake in shares of TORM by 24.8% in the fourth quarter. Atomi Financial Group Inc. now owns 19,291 shares of the company’s stock worth $375,000 after acquiring an additional 3,830 shares during the period. Finally, Arkadios Wealth Advisors bought a new stake in TORM in the fourth quarter valued at approximately $301,000. Institutional investors own 73.89% of the company’s stock.

TORM Stock Performance

Shares of TRMD opened at $17.59 on Friday. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $19.93 and its two-hundred day simple moving average is $25.70. TORM plc has a 12 month low of $17.17 and a 12 month high of $40.47. The stock has a market capitalization of $1.65 billion, a P/E ratio of 2.28 and a beta of 0.21.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lowered their price target on shares of TORM from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

About TORM

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.