MGO One Seven LLC Invests $186,000 in Nordic American Tankers Limited $NAT

MGO One Seven LLC purchased a new stake in shares of Nordic American Tankers Limited (NYSE:NAT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 70,714 shares of the shipping company’s stock, valued at approximately $186,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Nordic American Tankers by 61.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,326,919 shares of the shipping company’s stock valued at $10,644,000 after acquiring an additional 1,648,496 shares during the last quarter. CenterBook Partners LP increased its position in shares of Nordic American Tankers by 88.0% during the first quarter. CenterBook Partners LP now owns 3,135,619 shares of the shipping company’s stock valued at $7,714,000 after acquiring an additional 1,467,916 shares during the last quarter. Philip James Wealth Mangement LLC increased its position in shares of Nordic American Tankers by 2.9% during the second quarter. Philip James Wealth Mangement LLC now owns 1,303,872 shares of the shipping company’s stock valued at $3,429,000 after acquiring an additional 36,494 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Nordic American Tankers during the first quarter valued at approximately $3,150,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Nordic American Tankers by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 502,148 shares of the shipping company’s stock valued at $1,235,000 after acquiring an additional 12,781 shares during the last quarter. 44.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NAT has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $3.00 price target on shares of Nordic American Tankers in a research report on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nordic American Tankers in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.00.

Nordic American Tankers Stock Performance

NYSE:NAT opened at $3.55 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.33 and a quick ratio of 2.04. The business has a fifty day simple moving average of $3.17 and a two-hundred day simple moving average of $2.84. Nordic American Tankers Limited has a 1 year low of $2.13 and a 1 year high of $3.59. The company has a market capitalization of $750.65 million, a P/E ratio of 50.64 and a beta of -0.31.

Nordic American Tankers (NYSE:NAT) last released its earnings results on Thursday, August 28th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Nordic American Tankers had a return on equity of 2.67% and a net margin of 7.58%.The firm had revenue of $40.15 million during the quarter, compared to analysts’ expectations of $53.35 million. On average, analysts expect that Nordic American Tankers Limited will post 0.24 earnings per share for the current year.

Nordic American Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, September 12th were given a $0.10 dividend. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a yield of 11.3%. The ex-dividend date of this dividend was Friday, September 12th. Nordic American Tankers’s dividend payout ratio (DPR) is 571.43%.

About Nordic American Tankers

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.