Alpine Global Management LLC Takes Position in KNOT Offshore Partners LP $KNOP

Alpine Global Management LLC purchased a new stake in shares of KNOT Offshore Partners LP (NYSE:KNOP) in the fourth quarter, Holdings Channel.com reports. The firm purchased 125,000 shares of the shipping company’s stock, valued at approximately $1,294,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its holdings in KNOT Offshore Partners by 115.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,042 shares of the shipping company’s stock worth $58,000 after acquiring an additional 4,836 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in KNOT Offshore Partners in the 2nd quarter valued at about $68,000. Osaic Holdings Inc. raised its position in shares of KNOT Offshore Partners by 220.3% in the second quarter. Osaic Holdings Inc. now owns 16,557 shares of the shipping company’s stock valued at $104,000 after purchasing an additional 11,388 shares during the period. Cetera Investment Advisers bought a new stake in KNOT Offshore Partners during the 4th quarter valued at $125,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of KNOT Offshore Partners during the first quarter worth $130,000. Institutional investors and hedge funds own 26.82% of the company’s stock.

Insider Buying and Selling

In other KNOT Offshore Partners news, Director Trygve Seglem acquired 1,250,000 shares of the stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $25,000,000.00. Following the acquisition, the director owned 1,458,333 shares in the company, valued at $29,166,660. The trade was a 600.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

KNOT Offshore Partners Price Performance

Shares of NYSE:KNOP opened at $10.30 on Friday. The company’s fifty day moving average price is $10.73 and its 200-day moving average price is $10.51. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.24. The firm has a market capitalization of $346.56 million, a price-to-earnings ratio of 19.07 and a beta of -0.06. KNOT Offshore Partners LP has a one year low of $6.16 and a one year high of $11.78.

KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). The firm had revenue of $92.01 million during the quarter, compared to analysts’ expectations of $90.35 million. KNOT Offshore Partners had a return on equity of 6.36% and a net margin of 4.92%. On average, equities research analysts anticipate that KNOT Offshore Partners LP will post 0.14 earnings per share for the current fiscal year.

KNOT Offshore Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, April 27th were given a dividend of $0.05 per share. The ex-dividend date was Monday, April 27th. This is an increase from KNOT Offshore Partners’s previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a yield of 1.9%. KNOT Offshore Partners’s dividend payout ratio (DPR) is 37.04%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KNOP. Wall Street Zen cut KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Fearnley Fonds raised shares of KNOT Offshore Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. B. Riley Financial raised shares of KNOT Offshore Partners from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Friday, March 20th. Finally, Weiss Ratings lowered shares of KNOT Offshore Partners from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.00.

KNOT Offshore Partners Profile

KNOT Offshore Partners LP is a publicly traded limited partnership formed in 2013 to own and operate shuttle tankers under long‐term charters in the offshore oil industry. Listed on the New York Stock Exchange under the symbol KNOP, the partnership specializes in the transportation of crude oil from offshore production facilities to onshore refineries. Its fleet comprises moderne shuttle tankers equipped with dynamic positioning systems, enabling safe transfer operations in harsh weather and sea conditions.

The partnership’s vessels primarily serve fields in the North Sea, Brazil and West Africa, where they operate under multi‐year contracts with major energy producers.