Short Interest in BW LPG Limited (NYSE:BWLP) Rises By 59.9%

BW LPG Limited (NYSE:BWLP) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 518,900 shares, a growth of 59.9% from the October 15th total of 324,600 shares. Based on an average daily trading volume, of 329,700 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.7% of the company’s stock are sold short.

Hedge Funds Weigh In On BW LPG

A number of institutional investors have recently modified their holdings of the business. Glenorchy Capital Ltd acquired a new position in BW LPG in the third quarter valued at $712,000. Acadian Asset Management LLC purchased a new stake in BW LPG during the 2nd quarter valued at approximately $56,598,000. DekaBank Deutsche Girozentrale purchased a new stake in BW LPG during the 2nd quarter valued at approximately $698,000. Assenagon Asset Management S.A. acquired a new stake in BW LPG during the 3rd quarter worth approximately $11,827,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in shares of BW LPG in the 2nd quarter valued at approximately $12,196,000.

BW LPG Price Performance

BWLP traded up $0.25 on Thursday, reaching $13.28. The company had a trading volume of 107,834 shares, compared to its average volume of 177,356. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.45. BW LPG has a 1 year low of $10.32 and a 1 year high of $22.31. The stock’s 50-day simple moving average is $14.15.

BW LPG (NYSE:BWLP) last posted its earnings results on Thursday, August 22nd. The company reported $0.58 earnings per share for the quarter. The firm had revenue of $876.49 million during the quarter.

BW LPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.58 per share. The ex-dividend date was Tuesday, September 10th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 17.47%.

About BW LPG

BW LPG Limited, an investment holding company, engages in ship owning and chartering activities worldwide. The company operates through Shipping and Product Services segments. The company involved in the transportation of liquefied petroleum gas to oil companies, and trading and utility companies. It also offers integrated liquified petroleum gas (LPG) delivery services and support; wholesale and trade of LPG; and management services.