Peregrine Capital Management LLC Has $6.12 Million Stake in Scorpio Tankers Inc. (STNG)

Peregrine Capital Management LLC increased its stake in shares of Scorpio Tankers Inc. (NASDAQ:STNG) by 2.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,541,589 shares of the shipping company’s stock after buying an additional 30,995 shares during the period. Peregrine Capital Management LLC owned 0.95% of Scorpio Tankers worth $6,120,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of STNG. Impala Asset Management LLC acquired a new stake in Scorpio Tankers during the first quarter valued at approximately $14,042,000. Boston Partners raised its stake in Scorpio Tankers by 47.6% in the first quarter. Boston Partners now owns 4,782,108 shares of the shipping company’s stock valued at $21,233,000 after buying an additional 1,542,838 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Scorpio Tankers by 55.5% in the first quarter. Nuveen Asset Management LLC now owns 2,693,022 shares of the shipping company’s stock valued at $11,957,000 after buying an additional 960,735 shares in the last quarter. Schroder Investment Management Group acquired a new stake in Scorpio Tankers during the first quarter valued at approximately $3,267,000. Finally, Wellington Management Group LLP raised its stake in Scorpio Tankers by 3.6% in the first quarter. Wellington Management Group LLP now owns 19,933,081 shares of the shipping company’s stock valued at $88,503,000 after buying an additional 684,099 shares in the last quarter.

Shares of Scorpio Tankers Inc. (NASDAQ:STNG) traded up 3.54% during midday trading on Friday, hitting $3.51. 2,226,538 shares of the company traded hands. The stock’s market capitalization is $571.12 million. The stock’s 50-day moving average is $3.67 and its 200 day moving average is $3.96. Scorpio Tankers Inc. has a 12-month low of $3.20 and a 12-month high of $5.40.

TRADEMARK VIOLATION WARNING: “Peregrine Capital Management LLC Has $6.12 Million Stake in Scorpio Tankers Inc. (STNG)” was originally reported by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.com-unik.info/2017/08/19/scorpio-tankers-inc-stng-stake-raised-by-peregrine-capital-management-llc-updated-updated-updated.html.

STNG has been the subject of several recent research reports. Seaport Global Securities reissued a “buy” rating and set a $7.50 target price on shares of Scorpio Tankers in a research note on Thursday, May 25th. Credit Suisse Group set a $7.00 target price on shares of Scorpio Tankers and gave the company a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and set a $5.50 target price (down from $6.00) on shares of Scorpio Tankers in a research note on Saturday, July 22nd. BidaskClub lowered shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Cowen and Company reissued an “outperform” rating and set a $7.00 target price (down from $10.00) on shares of Scorpio Tankers in a research note on Thursday, April 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Scorpio Tankers presently has an average rating of “Buy” and a consensus target price of $6.44.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

Institutional Ownership by Quarter for Scorpio Tankers (NASDAQ:STNG)

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