SFL Co. Ltd. (NYSE:SFL) Sees Significant Increase in Short Interest

SFL Co. Ltd. (NYSE:SFL - Get Free Report) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,920,000 shares, a growth of 50.0% from the November 30th total of 1,280,000 shares. Currently, 1.8% of the company's stock are sold short. Based on an average trading volume of 827,400 shares, the days-to-cover ratio is presently 2.3 days.

SFL Stock Down 0.9 %

SFL traded down $0.09 during midday trading on Monday, hitting $10.00. 1,243,735 shares of the company's stock traded hands, compared to its average volume of 850,829. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market cap of $1.39 billion, a PE ratio of 9.01 and a beta of 0.67. SFL has a one year low of $9.64 and a one year high of $14.62. The stock's fifty day simple moving average is $10.45 and its 200-day simple moving average is $11.54.

SFL (NYSE:SFL - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). SFL had a net margin of 16.03% and a return on equity of 14.61%. The business had revenue of $255.30 million during the quarter, compared to analyst estimates of $243.98 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company's revenue for the quarter was up 24.6% compared to the same quarter last year.

SFL Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.80%. SFL's payout ratio is presently 97.30%.

Institutional Investors Weigh In On SFL

A number of large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new stake in shares of SFL during the 3rd quarter valued at $34,000. Quarry LP lifted its position in shares of SFL by 428.2% in the third quarter. Quarry LP now owns 3,967 shares of the shipping company's stock worth $46,000 after purchasing an additional 3,216 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of SFL in the 3rd quarter valued at about $49,000. Farther Finance Advisors LLC increased 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 during the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in SFL during the third quarter worth $92,000. 28.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Fearnley Fonds upgraded shares of SFL from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st.

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.

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