( ) suffered a significant decline in short interest during the month of march. On March 31, there were 3,500,000 shorted shares. This is a decrease of 13.8% compared to the total of 4,060,000 on March 15. At the moment, 2,6% of shares are being shorted. The short-interest rate is currently 1.4 days based on an average daily share volume of 2,510,000.
Institutional Inflows & Outflows
Recent changes in the holdings of a number of large investors has occurred. Congress Asset Management Co. MA increased its stake in DHT in the fourth quarter by 0.8%. Congress Asset Management Co. MA owns 405,562 of the stock of the shipping company worth $3,601,000. This is after buying an additional 3,190 in the last quarter. Navellier & Associates Inc. bought a new stake worth $883,000. USA Financial Portformulas Corp bought a new stake worth $90,000 in DHT during the third quarter. International Assets Investment Management LLC bought a new stake worth $582,000. Raymond James & Associates also purchased a stake in DHT worth $141,000 in the third quarter. Recently, several brokerages weighed in about DHT. In a Monday research note, DHT shares were downgraded from a "buy" rating to a "hold". In a research report published on Tuesday, Jefferies Financial reiterated its 'buy rating' and set a price target of $12.00 on DHT shares.
DHT Stock Performance
On Wednesday, the stock fell $0.33 to $10.28. The company traded 1,379 202 shares compared to the average of 2,458,942. The company's 50-day moving average is $10.79, and its 200-day moving average is $9.59. The market cap of the stock is $1.68 billion. It has a PE of 27.05, and a beta value of -0.19. DHT's 1 year low is $4.98, and its 1 year high is $12.13. The company's debt-to equity ratio is 0.34. It has a quick ratio 3.15, and a current of 3.66.
The last time the company released its results was on February 8th. The shipping company posted $0.38 per share in earnings for the first quarter, exceeding analysts' expectations of $0.36 by $0.02. DHT's net margin was 13.55%, and its return on equity was 4.69%. The company's revenue for the quarter was $116.74m, which is higher than analysts' expectations of $100.42m. In the same quarter last year, the company had earned ($0.05). DHT's quarterly revenue was up 136.9% year-over-year. Analysts expect DHT to post 1.14 earnings per share for the current fiscal year.
DHT Dividend Increase
A quarterly dividend was also announced by the company and paid out on Friday, 24th February. Dividends were paid to investors who held shares on record as of Friday, February 17. The dividend is an increase from DHT's prior quarterly dividend of $0.04. The ex-dividend day was Thursday, 16th February. The dividend yield is 14.79%. This dividend represents $1.52 on an annualized base. DHT's pay-out ratio is 400.01%.
What is DHT?
DHT Holdings, Inc operates a fleet crude oil tankers. It operates via its integrated management company in Monaco, Singapore and Oslo, Norway. The company was established in 2005 with its headquarters in Hamilton, Bermuda.
MarketBeat.com offers a FREE daily email newsletter