Norges Bank Purchases New Stake in Ship Finance International Limited (SFL)

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Norges Bank acquired a new stake in shares of Ship Finance International Limited (NYSE:SFL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 114,243 shares of the shipping company’s stock, valued at approximately $1,697,000. Norges Bank owned approximately 0.12% of Ship Finance International Limited at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. James Investment Research Inc. increased its stake in Ship Finance International Limited by 163.1% in the third quarter. James Investment Research Inc. now owns 588,450 shares of the shipping company’s stock valued at $8,668,000 after buying an additional 364,757 shares during the last quarter. Two Sigma Investments LP bought a new stake in Ship Finance International Limited during the fourth quarter valued at approximately $4,291,000. WFG Advisors LP bought a new stake in Ship Finance International Limited during the fourth quarter valued at approximately $4,487,000. Guggenheim Capital LLC boosted its stake in Ship Finance International Limited by 28.3% in the fourth quarter. Guggenheim Capital LLC now owns 453,922 shares of the shipping company’s stock valued at $6,740,000 after buying an additional 100,076 shares during the period. Finally, Numeric Investors LLC boosted its stake in Ship Finance International Limited by 47.5% in the fourth quarter. Numeric Investors LLC now owns 215,100 shares of the shipping company’s stock valued at $3,194,000 after buying an additional 69,300 shares during the period. 27.08% of the stock is owned by institutional investors and hedge funds.

Ship Finance International Limited (NYSE:SFL) remained flat at $14.00 on Monday. The company’s stock had a trading volume of 643,561 shares. Ship Finance International Limited has a 12-month low of $12.07 and a 12-month high of $16.28. The stock has a 50-day moving average of $13.96 and a 200-day moving average of $14.43. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 9.35 and a beta of 1.30.

Separately, Zacks Investment Research upgraded Ship Finance International Limited from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, February 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $15.67.

About Ship Finance International Limited

Ship Finance International Limited is a holding, and international ship owning and chartering company. The Company is engaged in the ownership and operation of vessels and offshore related assets, and also involved in the charter, purchase and sale of assets. Its assets consist of approximately 20 oil tankers, over 20 dry bulk carriers, approximately 20 container vessels, including a newbuilding, two car carriers, two jack-up drilling rigs, two ultra-deepwater drilling units, five offshore supply vessels, two chemical tankers and two newbuilding oil product tankers.

 

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