American Century Companies Inc., a leading investment management firm, recently decreased its ownership stake in Golar LNG Limited, a shipping company listed on the NASDAQ exchange. According to the firm’s Form 13F filing with the Securities and Exchange Commission (SEC) for the first quarter of this year, American Century Companies Inc. reduced its stake by 34.3%. This reduction involved the sale of 435,328 shares, leaving the firm with 835,494 shares of Golar LNG stock. This equated to a value of $18,047,000 based on the most recent SEC filing.
Golar LNG Limited announced its quarterly earnings results on May 30th of this year. The company reported earnings per share (EPS) of $0.80 for the quarter, falling short of the consensus estimate by $0.39. Additionally, Golar LNG recorded revenue of $73.73 million, slightly exceeding analysts’ expectations of $72.97 million.
Despite missing earnings estimates for the quarter, sell-side analysts are anticipating that Golar LNG will post an EPS of 1.62 for the current year.
This news regarding American Century Companies Inc.’s reduced stake in Golar LNG Limited has drawn attention from investors and market observers who closely follow these companies’ activities and financial performance.
Stock analysis experts are monitoring developments in GLNG’s stock and evaluating potential implications for future investment strategies or decisions.
Investors interested in analyzing Golar LNG’s stock further can access our latest stock analysis report on GLNG for more comprehensive insights into this shipping company and its position within the market.
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Institutional Investors and Hedge Funds Increase Stakes in Golar LNG Limited: Factors for Potential Investors to Consider
Institutional investors and hedge funds have been making significant moves with regards to their stakes in Golar LNG Limited, a shipping company specializing in liquefied natural gas. Legal & General Group Plc, for instance, increased its position in the company by 0.4% during the last quarter, now owning 138,184 shares valued at $3,148,000. Price T Rowe Associates Inc. MD also lifted its holdings by 6.2% in the second quarter, acquiring an additional 566 shares valued at $220,000.
This trend of institutional investment seems to extend beyond just these two companies. HighTower Advisors LLC saw a boost of 7.6% in its position during the fourth quarter, resulting in them now owning 8,882 shares worth $203,000. Similarly, Ellevest Inc., a prominent financial advisory firm catering to women investors, grew their stake by 9.8%, bringing their share count to 7,877 valued at $170,000.
Citigroup Inc., on the other hand, experienced a substantial increase of 29.5% as it acquired an extra 720 shares of Golar LNG Limited stock during the last quarter – this brings their total holdings to 3,160 shares valued at $72,000.
All together these institutional investors and hedge funds currently own approximately 89.67% of Golar LNG Limited’s stock.
On Friday September 2nd Golar LNG’s traded on NASDAQ opened at $22.10 per share; this resulted in a market capitalization of roughly $1.77 billion – adding weight and visibility to analyst coverage for potential investors looking into stocks within the shipping industry.
However one must consider several factors here; although it might seem alluring that Golar LNG’s price-to-earnings ratio is standing at around eight times lower than average for stocks listed on NASDAQ – which is a healthy PE of about 16-20 – it is accompanied by a beta of only 0.72, something that the astute investor or fund manager should take note of.
A company’s ability to manage its debt levels constitutes another factor vital for determining investment potential in the shipping sector. Golar LNG Limited performs well on this front, with a debt-to-equity ratio of just 0.34. This suggests that there might be room for growth and expansion within the company.
Taking factors such as stability and quick assets into account can also give investors important insights into the financial health of a company. Golar LNG has displayed a current ratio and quick ratio standing at 2.16 – while these numbers don’t indicate an overly low or high level of stability for a logistics-based business, there are certainly enough assets available to cover short-term obligations.
Golar LNG had recently declared a quarterly dividend which was paid on August 29th; stockholders were entitled to receive $0.25 per share based on records from August 21st. This dividend represents an annualized payout ratio (DPR) of approximately 36.76%. While this figure may seem reasonable given industry standards, it may still prompt some aspiring investors to consider further research before committing any funds into Golar LNG Limited’s stock.
Various analysts have commented on Golar LNG’s stock in recent times; StockNews.com initiated coverage by issuing a “hold” rating on Thursday, August 17th while Wolfe Research downgraded their rating from “outperform” to “peer perform” the day prior. Currently, there is an average rating across all analysts surveyed by Bloomberg – this consensus indicates that the stock holds moderate buy potential with a target price set at $32.88.
In conclusion, institutional investors and hedge funds have demonstrated their trust in Golar LNG Limited by increasing their stakes over time.. However, potential investors must tread carefully when assessing this shipping company’s stock due to factors such as its modest beta, current dividend payout ratio, and analyst ratings.