Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN – Get Rating) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totalling 267,500 shares, a decrease of 35.9% from the June 30th total of 417,500 shares. Based on an average daily volume of 363,200 shares, the days-to-cover ratio is presently 0.7 days.
Analyst Ratings Changes
Several equities research analysts recently weighed in on GRIN shares. TheStreet upgraded Grindrod Shipping from a “d+” rating to a “c+” rating in a report on Monday, April 18th. Jefferies Financial Group started coverage on Grindrod Shipping in a report on Wednesday, April 27th. They set a “buy” rating and a $26.00 target price for the company.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC bought a new position in Grindrod Shipping during the 1st quarter valued at approximately $601,000. Lazard Asset Management LLC raised its position in shares of Grindrod Shipping by 44.1% in the 4th quarter. Lazard Asset Management LLC now owns 6,490 shares of the company’s stock worth $117,000 after acquiring an additional 1,987 shares in the last quarter. Advisor Group Holdings Inc. raised its position in shares of Grindrod Shipping by 246.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 11,765 shares of the company’s stock worth $212,000 after acquiring an additional 8,365 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Grindrod Shipping by 102.4% in the 4th quarter. Acadian Asset Management LLC now owns 37,733 shares of the company’s stock worth $610,000 after acquiring an additional 19,088 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Grindrod Shipping by 32.5% in the 2nd quarter. Private Advisor Group LLC now owns 49,848 shares of the company’s stock worth $855,000 after acquiring an additional 12,217 shares in the last quarter. Institutional investors own 32.90% of the company’s stock.
Grindrod Shipping Trading Up 1.1 %
Shares of GRIN stock opened at $18.01 on Friday. The stock has a market capitalization of $346.69 million, a PE ratio of 2.44 and a beta of 0.97. Grindrod Shipping has a 1-year low of $10.38 and a 1-year high of $28.98. The business has a 50-day moving average of $20.02 and a 200 day moving average of $21.76. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.59.
Grindrod Shipping (NASDAQ:GRIN – Get Rating) last released its quarterly earnings results on Tuesday, May 24th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.20. The business had revenue of $86.61 million during the quarter, compared to analyst estimates of $86.45 million. Grindrod Shipping had a return on equity of 48.54% and a net margin of 26.61%. During the same quarter in the prior year, the company posted $0.12 EPS. As a group, sell-side analysts anticipate that Grindrod Shipping will post 5.98 earnings per share for the current year.
Grindrod Shipping Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Friday, June 10th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 10.44%. The ex-dividend date was Thursday, June 9th. Grindrod Shipping’s payout ratio is 25.47%.
Grindrod Shipping Company Profile
Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters-in, and operates a fleet of dry bulk carriers and tankers worldwide. It operates a fleet of 32 vessels consisting of 24 owned dry bulk carriers and 7 long-term chartered-in dry bulk carriers that transport a range of bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers.
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