MARSHALL WACE ASIA Ltd Has $22.16 Million Holdings in Euronav NV (NYSE:EURN)

MARSHALL WACE ASIA Ltd raised its stake in shares of Euronav NV (NYSE:EURN) by 12.8% during the 1st quarter, Holdings Channel reports. The firm owned 2,718,735 shares of the shipping company’s stock after purchasing an additional 308,432 shares during the quarter. MARSHALL WACE ASIA Ltd’s holdings in Euronav were worth $22,158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in EURN. JPMorgan Chase & Co. grew its position in Euronav by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 148,865 shares of the shipping company’s stock valued at $1,295,000 after buying an additional 7,207 shares in the last quarter. Wiley BROS. Aintree Capital LLC bought a new position in shares of Euronav during the 4th quarter valued at about $652,000. GAM Holding AG bought a new position in shares of Euronav during the 4th quarter valued at about $6,178,000. Bank of New York Mellon Corp boosted its position in shares of Euronav by 1,326.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,551,658 shares of the shipping company’s stock valued at $24,613,000 after purchasing an additional 3,302,656 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of Euronav by 6,189.6% during the 4th quarter. Citigroup Inc. now owns 565,816 shares of the shipping company’s stock valued at $4,023,000 after purchasing an additional 556,820 shares in the last quarter. Institutional investors own 30.21% of the company’s stock.

Shares of NYSE EURN traded down $0.14 during mid-day trading on Friday, reaching $8.38. The company had a trading volume of 11,543 shares, compared to its average volume of 403,411. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -12.94 and a beta of 0.91. Euronav NV has a 12-month low of $6.77 and a 12-month high of $10.22.

Euronav (NYSE:EURN) last posted its quarterly earnings results on Tuesday, April 30th. The shipping company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The company had revenue of $197.00 million during the quarter, compared to analysts’ expectations of $206.08 million. Euronav had a negative return on equity of 3.29% and a negative net margin of 7.01%. On average, analysts predict that Euronav NV will post -0.12 EPS for the current year.

The business also recently declared a semiannual dividend, which was paid on Friday, May 24th. Stockholders of record on Thursday, May 16th were given a $0.06 dividend. This represents a dividend yield of 1.5%. The ex-dividend date was Wednesday, May 15th.

A number of analysts have commented on EURN shares. Morgan Stanley set a $11.00 price objective on shares of Euronav and gave the company a “buy” rating in a research note on Friday, February 15th. Zacks Investment Research lowered shares of Euronav from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. TheStreet raised shares of Euronav from a “d+” rating to a “c-” rating in a research note on Monday, April 15th. Finally, ValuEngine raised shares of Euronav from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $10.61.

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About Euronav

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.

Further Reading: Sell-Side Analysts

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Institutional Ownership by Quarter for Euronav (NYSE:EURN)

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