Quantbot Technologies LP Purchases 118,252 Shares of Nordic American Tankers Limited (NYSE:NAT)

Quantbot Technologies LP grew its stake in Nordic American Tankers Limited (NYSE:NAT - Free Report) by 57.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 325,260 shares of the shipping company's stock after buying an additional 118,252 shares during the period. Quantbot Technologies LP owned 0.16% of Nordic American Tankers worth $813,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC acquired a new position in Nordic American Tankers in the fourth quarter valued at $26,000. Avantax Advisory Services Inc. acquired a new position in shares of Nordic American Tankers in the 4th quarter valued at about $33,000. Raymond James Trust N.A. bought a new stake in shares of Nordic American Tankers during the 3rd quarter valued at about $37,000. Flputnam Investment Management Co. acquired a new stake in Nordic American Tankers during the fourth quarter worth approximately $45,000. Finally, Xponance Inc. increased its holdings in Nordic American Tankers by 41.4% in the fourth quarter. Xponance Inc. now owns 18,586 shares of the shipping company's stock worth $46,000 after purchasing an additional 5,439 shares in the last quarter. 44.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com cut Nordic American Tankers from a "hold" rating to a "sell" rating in a report on Monday, March 24th. Jefferies Financial Group reissued a "hold" rating and set a $3.00 target price on shares of Nordic American Tankers in a research note on Friday, February 28th.

Nordic American Tankers Stock Down 0.6 %

NAT stock traded down $0.02 during trading on Friday, reaching $2.52. 2,376,118 shares of the stock were exchanged, compared to its average volume of 2,507,992. 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 Limited has a twelve month low of $2.39 and a twelve month high of $4.40. The firm's 50 day moving average is $2.61 and its 200 day moving average is $2.93. The firm has a market cap of $525.12 million, a P/E ratio of 8.67 and a beta of -0.33.

Nordic American Tankers (NYSE:NAT - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 earnings per share (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 analyst estimates of $51.38 million. Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. As a group, research analysts forecast that Nordic American Tankers Limited will post 0.24 EPS for the current year.

Nordic American Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 9.54%. Nordic American Tankers's dividend payout ratio (DPR) is currently 109.09%.

Nordic American Tankers Company Profile

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.