Herbjorn Hansson purchases 100,000 shares in Nordic American Tankers, increasing the family's ownership to 8.15 million shares.
Quiver AI Summary
On December 12, 2024, Herbjorn Hansson, Founder, Chairman, and CEO of Nordic American Tankers Ltd (NAT), announced that he and a company owned by him have purchased 100,000 shares of NAT at $2.6129 per share. Following this acquisition, the Hansson family holds a total of 8,150,000 shares, making them the largest private shareholder group in the company. Notably, Hansson's son, Alexander Hansson, has 3,600,000 shares in NAT. The press release also includes a cautionary statement regarding forward-looking statements, reflecting the company's desire to take advantage of safe harbor protections under the Private Securities Litigation Reform Act of 1995, while outlining various factors that could affect future performance.
Potential Positives
- Herbjorn Hansson's personal investment of 100,000 shares demonstrates strong confidence in the company's future, potentially reassuring other investors.
- The Hansson family's total ownership of 8,150,000 shares positions them as the largest private shareholder group, indicating substantial insider commitment and investment in the company.
- The involvement of family members, including Alexander Hansson’s significant shareholding, suggests a long-term commitment to the company which may bolster investor confidence.
Potential Negatives
- The CEO's purchase of a large number of shares, while indicative of confidence, may also raise questions about the company's stock performance and potential liquidity issues, as significant stakes held by insiders could signal a lack of outside investor interest.
- The emphasis on forward-looking statements and the extensive cautionary notes regarding uncertainties may create concerns among investors about the reliability of the company's future projections and operational stability.
- Failure to address recent market conditions or the company's operational challenges in the context of share acquisitions may indicate a lack of transparency about underlying issues affecting the company's performance.
FAQ
What recent share purchase was announced by Nordic American Tankers?
Herbjorn Hansson announced the purchase of 100,000 shares in NAT, bringing the Hansson family's total to 8,150,000 shares.
Who is the largest private shareholder in Nordic American Tankers?
The Hansson family is the largest private shareholder group in Nordic American Tankers, owning an aggregate of 8,150,000 shares.
What are forward-looking statements in the press release?
Forward-looking statements refer to projections and expectations about future events or performance, based on various assumptions.
Who can investors contact for more information about Nordic American Tankers?
Investors can contact Bjørn Giæver, CFO, or Alexander Kihle, Finance Manager, for more information.
How can one access Nordic American Tankers' reports?
NAT's reports, including SEC filings, can be accessed on their official website and include detailed performance information.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$NAT Hedge Fund Activity
We have seen 97 institutional investors add shares of $NAT stock to their portfolio, and 111 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GOLDMAN SACHS GROUP INC removed 1,835,678 shares (-26.8%) from their portfolio in Q3 2024
- AMERICAN CENTURY COMPANIES INC added 1,526,260 shares (+43.6%) to their portfolio in Q3 2024
- TWO SIGMA ADVISERS, LP added 1,521,900 shares (+67.6%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC removed 1,232,263 shares (-100.0%) from their portfolio in Q3 2024
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 1,153,237 shares (-86.9%) from their portfolio in Q3 2024
- PHILIP JAMES WEALTH MANGEMENT, LLC added 1,108,591 shares (+inf%) to their portfolio in Q3 2024
- JPMORGAN CHASE & CO removed 946,604 shares (-60.1%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Thursday, December 12, 2024
Dear Shareholders and Investors,
This is to inform you that I personally and a company owned and guaranteed by me have today bought 100,000 shares in NAT at the price of USD 2.6129 per share.
Following this transaction the Hansson family owns an aggregate of 8,150,000 shares – being the largest private shareholder group in the company.
My son, Monaco-based Alexander Hansson, has 3,600,000 shares in NAT.
Sincerely,
Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Ltd.
www.nat.bm
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker market, as a result of changes in OPEC’s petroleum production levels and worldwide oil consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form 20-F, and our reports on Form 6-K.
Contacts:
Bjørn Giæver, CFO
Nordic American Tankers Ltd
Tel: +1 888 755 8391
Alexander Kihle, Finance Manager
Nordic American Tankers Ltd
Tel: +47 91 724 171
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
