Cambridge Investment Research Advisors Inc. Makes New $55,000 Investment in Borr Drilling Limited (NYSE:BORR)

Cambridge Investment Research Advisors Inc. purchased a new stake in Borr Drilling Limited (NYSE:BORR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 25,000 shares of the company’s stock, valued at approximately $55,000.

Other hedge funds also recently made changes to their positions in the company. Encompass Capital Advisors LLC acquired a new stake in Borr Drilling during the 4th quarter worth approximately $10,718,000. Jane Street Group LLC lifted its position in shares of Borr Drilling by 842.5% during the 4th quarter. Jane Street Group LLC now owns 1,949,508 shares of the company’s stock valued at $7,603,000 after acquiring an additional 1,742,670 shares during the period. Linden Advisors LP acquired a new position in shares of Borr Drilling during the 4th quarter valued at $6,321,000. Renaissance Technologies LLC lifted its position in shares of Borr Drilling by 5,369.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,509,600 shares of the company’s stock valued at $5,887,000 after acquiring an additional 1,482,000 shares during the period. Finally, Lloyd Harbor Capital Management LLC acquired a new position in shares of Borr Drilling during the 4th quarter valued at $5,220,000. 83.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, BTIG Research downgraded shares of Borr Drilling from a “buy” rating to a “neutral” rating in a report on Monday.

Borr Drilling Stock Performance

Shares of BORR stock opened at $1.94 on Wednesday. The firm has a 50-day moving average of $1.93 and a 200-day moving average of $2.45. The company has a market cap of $457.81 million, a P/E ratio of 10.20 and a beta of 1.79. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.25 and a quick ratio of 1.25. Borr Drilling Limited has a one year low of $1.55 and a one year high of $7.09.

Borr Drilling (NYSE:BORR) last announced its earnings results on Wednesday, May 21st. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The firm had revenue of $217.50 million during the quarter, compared to analysts’ expectations of $231.17 million. Borr Drilling had a net margin of 5.11% and a return on equity of 5.14%.

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.