AE Wealth Management LLC bought a new position in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 8,534 shares of the shipping company’s stock, valued at approximately $581,000.
A number of other institutional investors also recently bought and sold shares of EGLE. American International Group Inc. grew its holdings in Eagle Bulk Shipping by 4.8% in the third quarter. American International Group Inc. now owns 4,891 shares of the shipping company’s stock valued at $247,000 after purchasing an additional 222 shares during the period. Williams Jones Wealth Management LLC. acquired a new stake in Eagle Bulk Shipping in the fourth quarter valued at approximately $243,000. Sigma Planning Corp acquired a new stake in Eagle Bulk Shipping in the fourth quarter valued at approximately $276,000. Bailard Inc. grew its holdings in Eagle Bulk Shipping by 44.4% in the fourth quarter. Bailard Inc. now owns 6,500 shares of the shipping company’s stock valued at $296,000 after purchasing an additional 2,000 shares during the period. Finally, Baird Financial Group Inc. acquired a new stake in Eagle Bulk Shipping in the fourth quarter valued at approximately $722,000. 72.13% of the stock is currently owned by hedge funds and other institutional investors.
In other Eagle Bulk Shipping news, CEO Gary Vogel sold 29,441 shares of Eagle Bulk Shipping stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $67.66, for a total value of $1,991,978.06. Following the sale, the chief executive officer now owns 167,686 shares in the company, valued at $11,345,634.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Costanzo Frank De sold 3,022 shares of Eagle Bulk Shipping stock in a transaction on Monday, June 6th. The shares were sold at an average price of $78.06, for a total value of $235,897.32. Following the completion of the sale, the chief financial officer now owns 52,323 shares in the company, valued at approximately $4,084,333.38. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Shares of Eagle Bulk Shipping stock opened at $44.75 on Friday. Eagle Bulk Shipping Inc. has a one year low of $36.18 and a one year high of $78.75. The company has a market cap of $612.63 million, a price-to-earnings ratio of 3.12 and a beta of 1.40. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.16 and a current ratio of 1.37. The business’s 50 day moving average price is $61.63 and its 200 day moving average price is $57.21.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The shipping company reported $3.97 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.01. Eagle Bulk Shipping had a return on equity of 40.41% and a net margin of 33.43%. The firm had revenue of $140.77 million for the quarter, compared to the consensus estimate of $134.93 million. During the same quarter last year, the business posted $0.84 earnings per share. On average, analysts predict that Eagle Bulk Shipping Inc. will post 18.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 25th. Investors of record on Monday, May 16th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 13th. This represents a $8.00 dividend on an annualized basis and a yield of 17.88%. Eagle Bulk Shipping’s payout ratio is 55.83%.
Several analysts have commented on EGLE shares. StockNews.com raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a report on Tuesday, June 14th. HC Wainwright raised their target price on Eagle Bulk Shipping from $80.00 to $90.00 in a research report on Monday, May 9th. Jefferies Financial Group initiated coverage on Eagle Bulk Shipping in a research report on Wednesday, April 27th. They issued a “buy” rating on the stock. Finally, Clarkson Capital restated a “buy” rating on shares of Eagle Bulk Shipping in a research report on Tuesday, June 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $73.67.
Eagle Bulk Shipping Profile (Get Rating)
Eagle Bulk Shipping Inc engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, cement, and forest products. It serves miners, producers, traders, and end users.
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