Himalaya Shipping Ltd. $HSHP Stock: Hosking Partners LLP Reduces Stake

Hosking Partners LLP cut its stake in shares of Himalaya Shipping Ltd. (NYSE:HSHP) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,659,097 shares of the company’s stock after selling 170,089 shares during the quarter. Hosking Partners LLP’s holdings in Himalaya Shipping were worth $28,819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its stake in shares of Himalaya Shipping by 292.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company’s stock valued at $13,344,000 after acquiring an additional 750,944 shares in the last quarter. Bank of America Corp DE grew its stake in Himalaya Shipping by 230.4% in the first quarter. Bank of America Corp DE now owns 399,028 shares of the company’s stock worth $5,307,000 after purchasing an additional 278,273 shares in the last quarter. Globeflex Capital L P bought a new position in Himalaya Shipping in the second quarter worth approximately $4,257,000. Sei Investments Co. raised its position in Himalaya Shipping by 425.7% during the 1st quarter. Sei Investments Co. now owns 122,313 shares of the company’s stock valued at $1,627,000 after purchasing an additional 99,046 shares in the last quarter. Finally, Kercheville Advisors LLC bought a new stake in Himalaya Shipping during the 3rd quarter valued at $1,203,000. Institutional investors own 22.33% of the company’s stock.

Himalaya Shipping Trading Up 5.0%

NYSE HSHP opened at $16.95 on Thursday. Himalaya Shipping Ltd. has a 12-month low of $7.37 and a 12-month high of $19.55. The company has a fifty day simple moving average of $17.38 and a two-hundred day simple moving average of $15.64. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 4.00. The stock has a market cap of $790.48 million, a P/E ratio of 15.00 and a beta of 1.36.

Himalaya Shipping (NYSE:HSHP) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.52 earnings per share for the quarter. Himalaya Shipping had a net margin of 31.44% and a return on equity of 32.83%. The firm had revenue of $55.30 million for the quarter.

Himalaya Shipping Increases Dividend

The company also recently declared a dividend, which will be paid on Tuesday, October 27th. Shareholders of record on Monday, October 19th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, October 16th. This is a boost from Himalaya Shipping’s previous dividend of $0.25.

Analysts Set New Price Targets

Several brokerages have weighed in on HSHP. Clarkson Capital upgraded Himalaya Shipping from a “neutral” rating to a “buy” rating in a report on Thursday, August 20th. Weiss Ratings raised shares of Himalaya Shipping from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock has an average rating of “Buy”.

About Himalaya Shipping

Himalaya Shipping Ltd. (NYSE: HSHP) is a dry bulk shipping company that owns and operates large oceangoing vessels designed to transport commodities in international trade. Its fleet is focused on Newcastlemax bulk carriers, which are primarily used to carry cargoes such as iron ore, coal and grain.

The company’s vessels are designed with dual-fuel capability, allowing them to operate using liquefied natural gas (LNG) as well as conventional marine fuel. This technology is intended to support greater fuel flexibility and lower emissions compared with traditional bulk carriers, subject to fuel availability and operating conditions.

Himalaya Shipping was established in 2021 and is incorporated in Bermuda.