Short Interest in TORM plc (NASDAQ:TRMD) Grows By 22.4%

TORM plc (NASDAQ:TRMD - Get Free Report) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 5,470,000 shares, a growth of 22.4% from the January 31st total of 4,470,000 shares. Currently, 10.3% of the shares of the stock are short sold. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is currently 4.6 days.

Analyst Ratings Changes

Separately, Jefferies Financial Group dropped their price objective on shares of TORM from $37.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, November 14th.

TORM Price Performance

NASDAQ TRMD traded down $0.33 during trading hours on Friday, hitting $19.06. 1,137,163 shares of the company's stock traded hands, compared to its average volume of 1,179,459. TORM has a 52-week low of $16.76 and a 52-week high of $40.47. The company has a market capitalization of $1.79 billion, a PE ratio of 2.47 and a beta of 0.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The firm's 50-day moving average is $19.80 and its 200-day moving average is $24.93.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.40 annualized dividend and a yield of 12.59%. TORM's dividend payout ratio is presently 45.28%.

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Institutional Trading of TORM

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in TORM by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company's stock valued at $2,791,000 after acquiring an additional 505 shares in the last quarter. Assetmark Inc. grew its stake in shares of TORM by 76.9% in the 3rd quarter. Assetmark Inc. now owns 1,187 shares of the company's stock valued at $41,000 after buying an additional 516 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of TORM by 8.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock valued at $175,000 after buying an additional 711 shares during the period. Quarry LP purchased a new stake in shares of TORM in the 3rd quarter valued at approximately $51,000. Finally, NewEdge Advisors LLC grew its stake in shares of TORM by 16.4% in the 4th quarter. NewEdge Advisors LLC now owns 11,964 shares of the company's stock valued at $233,000 after buying an additional 1,685 shares during the period. Hedge funds and other institutional investors own 73.89% of the company's stock.

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.