Home / Shipping News / International Shipping News / Eagle Bulk Shipping Cut to “Sell” at BidaskClub

Eagle Bulk Shipping Cut to “Sell” at BidaskClub

Eagle Bulk Shipping (NASDAQ:EGLE) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, January 31st.

EGLE has been the subject of several other reports. ValuEngine lowered Eagle Bulk Shipping from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 25th. Zacks Investment Research downgraded Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. B. Riley started coverage on Eagle Bulk Shipping in a research report on Thursday, October 4th. They issued a “buy” rating and a $8.50 price objective on the stock. Finally, Maxim Group restated a “buy” rating and set a $7.00 price target on shares of Eagle Bulk Shipping in a research report on Wednesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $6.54.

The company’s stock had a trading volume of 380,031 shares, compared to its average volume of 307,830. Eagle Bulk Shipping has a 52 week low of $3.85 and a 52 week high of $6.14. The firm has a market cap of $369.57 million, a PE ratio of -12.00 and a beta of 1.20. The company has a quick ratio of 1.91, a current ratio of 2.16 and a debt-to-equity ratio of 0.63.

In other news, major shareholder Oaktree Capital Group Holdings acquired 960,000 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The stock was bought at an average cost of $4.39 per share, for a total transaction of $4,214,400.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Goldentree Asset Management Lp acquired 10,300 shares of the firm’s stock in a transaction that occurred on Monday, January 28th. The stock was purchased at an average price of $4.42 per share, with a total value of $45,526.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 2,585,892 shares of company stock valued at $11,524,760 and sold 71,445 shares valued at $341,008. Company insiders own 3.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oaktree Capital Management LP grew its position in Eagle Bulk Shipping by 3,224.5% in the 4th quarter. Oaktree Capital Management LP now owns 26,109,536 shares of the shipping company’s stock worth $120,365,000 after purchasing an additional 25,324,173 shares during the period. Paloma Partners Management Co bought a new stake in Eagle Bulk Shipping in the 4th quarter worth approximately $153,000. Bank of America Corp DE grew its position in Eagle Bulk Shipping by 3.7% in the 4th quarter. Bank of America Corp DE now owns 615,326 shares of the shipping company’s stock worth $2,837,000 after purchasing an additional 22,188 shares during the period. Geode Capital Management LLC grew its position in Eagle Bulk Shipping by 14.6% in the 4th quarter. Geode Capital Management LLC now owns 752,393 shares of the shipping company’s stock worth $3,468,000 after purchasing an additional 95,850 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Eagle Bulk Shipping by 27.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,568,549 shares of the shipping company’s stock worth $7,231,000 after purchasing an additional 334,039 shares during the period. Institutional investors own 48.01% of the company’s stock.
Source: MarketBeat

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping