FNY Investment Advisers LLC increased its position in shares of KNOT Offshore Partners LP (NYSE:KNOP – Free Report) by 10.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 85,685 shares of the shipping company’s stock after buying an additional 7,880 shares during the quarter. FNY Investment Advisers LLC owned 0.25% of KNOT Offshore Partners worth $423,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of KNOP. Sparta 24 Ltd. boosted its position in KNOT Offshore Partners by 256.1% during the first quarter. Sparta 24 Ltd. now owns 135,887 shares of the shipping company’s stock valued at $728,000 after purchasing an additional 97,732 shares during the last quarter. Arrow Investment Advisors LLC lifted its position in shares of KNOT Offshore Partners by 77.0% in the first quarter. Arrow Investment Advisors LLC now owns 21,101 shares of the shipping company’s stock valued at $113,000 after buying an additional 9,179 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of KNOT Offshore Partners in the first quarter valued at approximately $85,000. Renaissance Technologies LLC lifted its position in shares of KNOT Offshore Partners by 10.7% in the first quarter. Renaissance Technologies LLC now owns 1,248,817 shares of the shipping company’s stock valued at $6,694,000 after buying an additional 120,500 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of KNOT Offshore Partners by 44.5% in the first quarter. Bank of America Corp DE now owns 70,527 shares of the shipping company’s stock valued at $378,000 after buying an additional 21,711 shares during the last quarter. 14.82% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
KNOP has been the subject of a number of recent analyst reports. Alliance Global Partners raised KNOT Offshore Partners from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 30th. StockNews.com initiated coverage on KNOT Offshore Partners in a research report on Thursday, August 17th. They issued a “hold” rating for the company.
KNOT Offshore Partners Stock Performance
NYSE:KNOP traded down $0.15 during mid-day trading on Friday, hitting $6.28. 39,366 shares of the stock were exchanged, compared to its average volume of 279,635. The stock has a market capitalization of $213.77 million, a price-to-earnings ratio of -10.83 and a beta of 0.84. The firm’s 50-day simple moving average is $5.50 and its 200 day simple moving average is $5.30. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 0.43. KNOT Offshore Partners LP has a fifty-two week low of $4.28 and a fifty-two week high of $15.89.
KNOT Offshore Partners Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Thursday, July 27th were issued a dividend of $0.026 per share. The ex-dividend date was Wednesday, July 26th. This represents a $0.10 annualized dividend and a yield of 1.66%. KNOT Offshore Partners’s payout ratio is currently -17.24%.
KNOT Offshore Partners Profile
KNOT Offshore Partners LP owns, acquires, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, discharge, and storage of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.
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