Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) sees strong growth in short-term interest

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN – Get a rating) was the target of strong short-term interest growth in May. As of May 31, there were short interests totaling 402,800 shares, up 41.3% from the May 15 total of 285,100 shares. Based on an average trading volume of 435,700 shares, the day-to-cover ratio is currently 0.9 days.

Shares of Grindrod Shipping were down $0.34 midday Wednesday, hitting $19.93. 6,141 shares were traded, against an average volume of 457,791. Grindrod Shipping has a 1-year low of $9.00 and a 1-year high of $28.98. The company has a market capitalization of $383.65 million, a P/E ratio of 2.75 and a beta of 0.81. The company has a debt ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.59. The company has a 50-day moving average price of $25.19 and a two-hundred-day moving average price of $21.40.

Grindrod Expedition (NASDAQ: GRIN – Get a rating) last released its quarterly results on Tuesday, May 24. The company reported earnings per share (EPS) of $1.56 for the quarter, beating the consensus estimate of $1.36 by $0.20. Grindrod Shipping achieved a net margin of 26.61% and a return on equity of 48.54%. In the same quarter a year earlier, the company posted EPS of $0.12. As a group, analysts expect Grindrod Shipping to post EPS of 6.14 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 20. Shareholders of record on Friday, June 10 will receive a dividend of $0.47. This represents an annualized dividend of $1.88 and a dividend yield of 9.43%. The ex-dividend date is Thursday, June 9. Grindrod Shipping’s delivery rate is currently 25.47%.

Several research companies have recently published reports on GRIN. Jefferies Financial Group began covering Grindrod Shipping shares in a research note on Wednesday, April 27. They set a “buy” rating and a price target of $26.00 on the stock. TheStreet downgraded Grindrod Shipping shares from a “d+” to a “c+” rating in a Monday, April 18 research note.

Several institutional investors and hedge funds have recently increased or reduced their stake in the company. BNP Paribas Arbitrage SA purchased a new equity stake in Grindrod Shipping in Q1 for approximately $285,000. Virtu Financial LLC purchased a new stake in Grindrod Shipping stock in Q1 for approximately $204,000. Quantbot Technologies LP bought a new stake in shares of Grindrod Shipping in Q1 for a value of approximately $35,000. Goldman Sachs Group Inc. increased its position in Grindrod Shipping shares by 936.0% in Q1. Goldman Sachs Group Inc. now owns 405,162 shares of the company worth $10,307,000 after purchasing an additional 366,052 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new equity stake in Grindrod Shipping during Q1 valued at approximately $38,000. 32.90% of the shares are held by institutional investors.

About Grindrod Shipping (Get a rating)

Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters and operates a fleet of dry bulk carriers and tankers worldwide. It operates a fleet of 32 vessels consisting of 24 owned dry bulk carriers and 7 long-term charter dry bulk carriers which transport a range of bulk and bulk cargo including ores, coal, grain, forest products, iron and steel products and fertilizers. .

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