Iat Reinsurance Company LTD Trimmed Its Diamond Offshore Drilling (DO) Holding; Herzfeld Caribbean Basin Fund (CUBA) Shorts Up By 462.5%

June 19, 2017 - By Kurt Siggers

Iat Reinsurance Company Ltd decreased Diamond Offshore Drilling Inc. (DO) stake by 76.92% reported in 2016Q4 SEC filing. Iat Reinsurance Company Ltd sold 25,000 shares as Diamond Offshore Drilling Inc. (DO)’s stock declined 20.95%. The Iat Reinsurance Company Ltd holds 7,500 shares with $133,000 value, down from 32,500 last quarter. Diamond Offshore Drilling Inc. now has $1.62 billion valuation. The stock declined 0.43% or $0.05 reaching $11.65 per share. About 1.55 million shares traded. Diamond Offshore Drilling Inc (NYSE:DO) has declined 43.02% since June 19, 2016 and is downtrending. It has underperformed by 59.72% the S&P500.

Herzfeld Caribbean Basin Fund (NASDAQ:CUBA) had an increase of 462.5% in short interest. CUBA’s SI was 4,500 shares in June as released by FINRA. Its up 462.5% from 800 shares previously. With 8,300 avg volume, 1 days are for Herzfeld Caribbean Basin Fund (NASDAQ:CUBA)’s short sellers to cover CUBA’s short positions. About 50,772 shares traded or 176.24% up from the average. Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA) has risen 11.48% since June 19, 2016 and is uptrending. It has underperformed by 5.22% the S&P500.

Investors sentiment decreased to 0.71 in Q4 2016. Its down 0.42, from 1.13 in 2016Q3. It turned negative, as 64 investors sold DO shares while 90 reduced holdings. 42 funds opened positions while 68 raised stakes. 142.56 million shares or 4.41% less from 149.14 million shares in 2016Q3 were reported. Fortress Invest Group Ltd Liability Corp holds 0.01% of its portfolio in Diamond Offshore Drilling Inc (NYSE:DO) for 30,975 shares. Prudential Public Limited Company reported 0.29% stake. Voya Mngmt Ltd Liability reported 0% in Diamond Offshore Drilling Inc (NYSE:DO). Conning Incorporated accumulated 0.02% or 22,451 shares. Goldman Sachs Grp holds 1.99 million shares or 0.01% of its portfolio. Aqr Capital Mngmt Limited Liability Corp reported 0.07% in Diamond Offshore Drilling Inc (NYSE:DO). Blackrock Japan holds 0% or 17,597 shares. Nine Chapters Capital Limited Liability Corp reported 12,500 shares or 0.37% of all its holdings. Loews holds 9.15% or 73.12M shares. Piermont Cap Management invested in 0.35% or 86,170 shares. Spot Trading Ltd has 91,880 shares for 0.04% of their portfolio. Beech Hill Advsrs Incorporated invested in 13,225 shares or 0.14% of the stock. New York-based State Teachers Retirement Sys has invested 0.01% in Diamond Offshore Drilling Inc (NYSE:DO). 42,236 are held by Cubist Systematic Strategies Ltd Liability. 789,412 were reported by James Investment Research Inc.

Since May 22, 2017, it had 1 buying transaction, and 0 sales for $54,660 activity. On Monday, May 22 the insider Gaffney Paul G bought $54,660.

Among 28 analysts covering Diamond Offshore Drilling Inc. (NYSE:DO), 6 have Buy rating, 6 Sell and 16 Hold. Therefore 21% are positive. Diamond Offshore Drilling Inc. had 51 analyst reports since August 5, 2015 according to SRatingsIntel. Citigroup initiated the shares of DO in report on Tuesday, October 20 with “Sell” rating. Jefferies maintained it with “Hold” rating and $20 target in Wednesday, August 5 report. Citigroup maintained Diamond Offshore Drilling Inc (NYSE:DO) on Friday, September 2 with “Neutral” rating. KLR Group initiated the shares of DO in report on Monday, December 14 with “Accumulate” rating. As per Monday, November 30, the company rating was upgraded by Guggenheim. The firm has “Neutral” rating given on Friday, March 11 by Goldman Sachs. Citigroup maintained the shares of DO in report on Thursday, August 25 with “Neutral” rating. The firm has “Underperform” rating by FBR Capital given on Tuesday, August 4. The stock has “Hold” rating by Jefferies on Thursday, November 19. The firm has “Hold” rating given on Wednesday, September 28 by Jefferies.

Analysts await Diamond Offshore Drilling Inc (NYSE:DO) to report earnings on August, 7. They expect $0.26 EPS, up 62.50% or $0.10 from last year’s $0.16 per share. DO’s profit will be $36.15M for 11.20 P/E if the $0.26 EPS becomes a reality. After $0.17 actual EPS reported by Diamond Offshore Drilling Inc for the previous quarter, Wall Street now forecasts 52.94% EPS growth.

Since January 12, 2017, it had 4 insider buys, and 0 insider sales for $105,990 activity. Herzfeld Erik Mervin had bought 8,255 shares worth $53,540. HERZFELD THOMAS J had bought 247 shares worth $1,711.

Investors sentiment increased to 1.25 in Q4 2016. Its up 0.12, from 1.13 in 2016Q3. It improved, as 1 investors sold Herzfeld Caribbean Basin Fund, Inc shares while 7 reduced holdings. 4 funds opened positions while 6 raised stakes. 1.01 million shares or 24.91% more from 808,358 shares in 2016Q3 were reported. Thomas J Herzfeld Advsrs Incorporated holds 665,494 shares or 2.07% of its portfolio. Citigroup invested in 1,000 shares or 0% of the stock. Moreover, Bancshares Of America De has 0% invested in Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA). Moreover, Creative Planning has 0% invested in Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA). Bennicas invested in 18,050 shares or 0.11% of the stock. 7,100 were accumulated by Cwm Ltd Limited Liability Company. Raymond James Assocs has 31,850 shares. Alabama-based Kistler has invested 0% in Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA). Wells Fargo And Co Mn has 1,301 shares. Gramercy Funds Llc reported 0.01% of its portfolio in Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA). Blue Bell Private Wealth Mgmt Lc stated it has 5,080 shares or 0.02% of all its holdings. Susquehanna Int Limited Liability Partnership invested 0% in Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA). Bulldog Investors Ltd Liability Corp owns 65,545 shares. Lpl Finance Limited Liability Corp owns 0% invested in Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA) for 36,768 shares. 80,000 were reported by City Of London Mngmt.

The Herzfeld Caribbean Basin Fund, Inc. is a non-diversified, closed-end management investment company. The company has market cap of $43.73 million. The Fund’s investment objective is to obtain long-term capital appreciation. It currently has negative earnings. The Fund pursues its objective by investing primarily in equity and equity-linked securities of public and private companies, including the United States companies, whose securities are traded principally on a stock exchange in a Caribbean Basin Country or that have at least 50% of the value of their assets in a Caribbean Basin Country or that derive at least 50% of their total revenue from activities in a Caribbean Basin Country (collectively, Caribbean Basin Companies).

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