Kovack Advisors Inc. Sells 1,933 Shares of TORM plc (NASDAQ:TRMD)

Kovack Advisors Inc. decreased its position in shares of TORM plc (NASDAQ:TRMD) by 9.8% in the 4th quarter, HoldingsChannel reports. The fund owned 17,759 shares of the company’s stock after selling 1,933 shares during the period. Kovack Advisors Inc.’s holdings in TORM were worth $345,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Centiva Capital LP bought a new stake in TORM during the 3rd quarter valued at $3,077,000. Exchange Traded Concepts LLC acquired a new position in shares of TORM during the fourth quarter valued at about $312,000. DekaBank Deutsche Girozentrale increased its position in shares of TORM by 1,166.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock worth $1,289,000 after acquiring an additional 35,000 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of TORM in the 3rd quarter worth about $1,047,000. Finally, PSI Advisors LLC lifted its position in TORM by 139.8% in the 4th quarter. PSI Advisors LLC now owns 42,367 shares of the company’s stock valued at $824,000 after acquiring an additional 24,702 shares in the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

TORM Price Performance

Shares of NASDAQ:TRMD opened at $17.59 on Friday. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.65 billion, a PE ratio of 2.28 and a beta of 0.21. The stock’s fifty day simple moving average is $19.93 and its two-hundred day simple moving average is $25.70. TORM plc has a 1-year low of $17.17 and a 1-year high of $40.47.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group decreased their price objective on TORM from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

About TORM

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.