Sigma Planning Corp lessened its stake in Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) by 23.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,625 shares of the shipping company’s stock after selling 1,450 shares during the quarter. Sigma Planning Corp’s holdings in Eagle Bulk Shipping were worth $315,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of EGLE. Fifth Third Bancorp acquired a new stake in shares of Eagle Bulk Shipping in the first quarter valued at approximately $51,000. Williams Jones Wealth Management LLC. acquired a new stake in Eagle Bulk Shipping during the fourth quarter worth $243,000. American International Group Inc. increased its stake in Eagle Bulk Shipping by 4.8% during the third quarter. American International Group Inc. now owns 4,891 shares of the shipping company’s stock worth $247,000 after acquiring an additional 222 shares during the last quarter. Bailard Inc. increased its stake in Eagle Bulk Shipping by 44.4% during the fourth quarter. Bailard Inc. now owns 6,500 shares of the shipping company’s stock worth $296,000 after acquiring an additional 2,000 shares during the last quarter. Finally, AE Wealth Management LLC acquired a new stake in Eagle Bulk Shipping during the first quarter worth $581,000. 72.13% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:EGLE opened at $44.75 on Friday. The firm has a market cap of $612.63 million, a PE ratio of 3.12 and a beta of 1.40. The stock has a fifty day moving average price of $61.63 and a 200 day moving average price of $57.21. Eagle Bulk Shipping Inc. has a 12-month low of $36.18 and a 12-month high of $78.75. The company has a current ratio of 1.37, a quick ratio of 1.16 and a debt-to-equity ratio of 0.48.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.01. The company had revenue of $140.77 million during the quarter, compared to the consensus estimate of $134.93 million. Eagle Bulk Shipping had a return on equity of 40.41% and a net margin of 33.43%. During the same period in the previous year, the business earned $0.84 EPS. Equities analysts forecast that Eagle Bulk Shipping Inc. will post 18.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 25th. Shareholders of record on Monday, May 16th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 17.88%. The ex-dividend date of this dividend was Friday, May 13th. Eagle Bulk Shipping’s dividend payout ratio (DPR) is 55.83%.
In other news, CEO Gary Vogel sold 29,441 shares of Eagle Bulk Shipping stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $67.66, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Costanzo Frank De sold 3,022 shares of Eagle Bulk Shipping stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $78.06, for a total value of $235,897.32. Following 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. 2.20% of the stock is owned by insiders.
Several research firms have recently commented on EGLE. Clarkson Capital restated a “buy” rating on shares of Eagle Bulk Shipping in a research report on Tuesday, June 14th. HC Wainwright raised their price target on Eagle Bulk Shipping from $80.00 to $90.00 in a research report on Monday, May 9th. StockNews.com upgraded Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research report on Tuesday, June 14th. Finally, Jefferies Financial Group began coverage on Eagle Bulk Shipping in a research report on Wednesday, April 27th. They set a “buy” rating for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Eagle Bulk Shipping has a consensus rating of “Buy” and a consensus price target of $73.67.
About Eagle Bulk Shipping (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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