1,300,000 Shares in Borr Drilling Limited (NYSE:BORR) Purchased by Rovida Investment Management Ltd

Rovida Investment Management Ltd acquired a new position in Borr Drilling Limited (NYSE:BORR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,300,000 shares of the company’s stock, valued at approximately $5,070,000. Borr Drilling comprises about 1.6% of Rovida Investment Management Ltd’s holdings, making the stock its 14th largest holding.

Other large investors also recently bought and sold shares of the company. HITE Hedge Asset Management LLC purchased a new position in shares of Borr Drilling in the third quarter valued at approximately $4,214,000. Tejara Capital Ltd lifted its holdings in Borr Drilling by 46.8% in the 4th quarter. Tejara Capital Ltd now owns 2,201,589 shares of the company’s stock valued at $8,418,000 after purchasing an additional 701,478 shares in the last quarter. Barclays PLC lifted its holdings in Borr Drilling by 52.9% in the 3rd quarter. Barclays PLC now owns 718,537 shares of the company’s stock valued at $3,944,000 after purchasing an additional 248,482 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Borr Drilling during the 4th quarter worth $920,000. Finally, XTX Topco Ltd acquired a new stake in shares of Borr Drilling in the third quarter valued at about $443,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

Borr Drilling Stock Performance

NYSE:BORR opened at $2.39 on Tuesday. Borr Drilling Limited has a twelve month low of $2.08 and a twelve month high of $7.26. The company has a market cap of $602.41 million, a P/E ratio of 7.45 and a beta of 2.69. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.91. The company’s 50-day moving average price is $2.96 and its 200-day moving average price is $3.93.

Borr Drilling (NYSE:BORR) last issued its earnings results on Wednesday, February 19th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Borr Drilling had a return on equity of 8.27% and a net margin of 8.12%. The company had revenue of $263.10 million for the quarter, compared to analyst estimates of $247.78 million.

Borr Drilling Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Monday, March 3rd. Borr Drilling’s dividend payout ratio (DPR) is presently 31.25%.

Borr Drilling Profile

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.