Assenagon Asset Management S.A. Purchases New Stake in Hafnia Limited $HAFN

Assenagon Asset Management S.A. acquired a new stake in shares of Hafnia Limited (NYSE:HAFN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,206,268 shares of the company’s stock, valued at approximately $32,205,000.

Several other hedge funds also recently made changes to their positions in HAFN. Fearnley Asset Management AS acquired a new position in Hafnia during the 4th quarter valued at approximately $3,185,000. Aristides Capital LLC bought a new position in shares of Hafnia in the fourth quarter worth $179,000. Virtu Financial LLC bought a new position in shares of Hafnia in the fourth quarter worth $174,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Hafnia during the fourth quarter valued at $80,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Hafnia by 18.3% during the fourth quarter. Mackenzie Financial Corp now owns 240,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 37,138 shares during the period.

Hafnia Price Performance

HAFN opened at $6.96 on Friday. Hafnia Limited has a 12 month low of $4.90 and a 12 month high of $9.53. The company has a quick ratio of 1.48, a current ratio of 1.60 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.57 billion, a P/E ratio of 7.65 and a beta of 0.64. The company has a fifty day simple moving average of $8.11 and a 200 day simple moving average of $7.10.

Hafnia (NYSE:HAFN) last released its earnings results on Friday, May 15th. The company reported $0.36 earnings per share (EPS) for the quarter. Hafnia had a return on equity of 19.20% and a net margin of 44.74%.The firm had revenue of $688.87 million during the quarter.

Hafnia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Thursday, June 4th were issued a dividend of $0.2877 per share. The ex-dividend date was Thursday, June 4th. This is an increase from Hafnia’s previous quarterly dividend of $0.18. This represents a $1.15 dividend on an annualized basis and a yield of 16.5%. Hafnia’s dividend payout ratio is 126.37%.

Insider Buying and Selling

In other news, CEO Mikael Opstun Skov sold 500,000 shares of the firm’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $8.11, for a total transaction of $4,055,000.00. Following the completion of the sale, the chief executive officer owned 1,130,978 shares in the company, valued at approximately $9,172,231.58. This trade represents a 30.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Echtelt Petrus Wouter Van sold 90,000 shares of Hafnia stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $8.22, for a total transaction of $739,800.00. Following the sale, the chief financial officer directly owned 91,994 shares of the company’s stock, valued at $756,190.68. The trade was a 49.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,090,000 shares of company stock worth $8,854,800.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Dnb Carnegie lowered shares of Hafnia from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Pareto Securities cut shares of Hafnia to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings restated a “hold (c)” rating on shares of Hafnia in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Hafnia from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Hafnia Company Profile

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.