10% owner Varde Partners sells 312,378 shares (312.4K) at ~$41.04 blended, reducing stake 18.2%; NBR unprofitable, down 50.8% from 52-week high
Varde Partners, a 10% shareholder in Nabors Industries, executed 2 separate sales totaling 312,378 shares for $12,819,602.92 at a blended average price of $41.04, reducing its holdings from 1,718,430 to 1,406,052 shares (a -18.2% reduction). This sale occurs while the stock trades 50.8% below its 52-week high of $84.38 and while Nabors reported negative net income of $-30,910,000.00 in its latest quarter with annual revenue declining 2.5% year-over-year. The timing of a major shareholder liquidating nearly a fifth of its position while the company remains unprofitable and the stock languishes in the lower half of its 52-week range warrants attention to the motivations behind the transaction and Varde's forward outlook for the company.