Several other analysts also recently issued reports on EGLE. Morgan Stanley set a $5.00 price objective on Eagle Bulk Shipping and gave the company a hold rating in a research report on Friday, February 15th. Maxim Group set a $7.00 price objective on Eagle Bulk Shipping and gave the company a buy rating in a research report on Thursday, March 7th. TheStreet upgraded Eagle Bulk Shipping from a d+ rating to a c rating in a research report on Wednesday, March 6th. Finally, Noble Financial restated a buy rating and issued a $6.40 price objective on shares of Eagle Bulk Shipping in a research report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $6.43.
Shares of NASDAQ:EGLE opened at $4.82 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. Eagle Bulk Shipping has a 52-week low of $3.85 and a 52-week high of $6.14. The firm has a market capitalization of $344.56 million, a PE ratio of 26.78 and a beta of 1.18.
In other Eagle Bulk Shipping news, major shareholder Goldentree Asset Management Lp bought 128,667 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was purchased at an average cost of $4.39 per share, for a total transaction of $564,848.13. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary Vogel sold 45,520 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $5.30, for a total value of $241,256.00. Following the completion of the transaction, the chief executive officer now owns 1,147,032 shares of the company’s stock, valued at $6,079,269.60. The disclosure for this sale can be found here. Insiders purchased 1,279,354 shares of company stock valued at $5,869,387 over the last quarter. Insiders own 4.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in EGLE. BNP Paribas Arbitrage SA increased its stake in Eagle Bulk Shipping by 465.6% during the first quarter. BNP Paribas Arbitrage SA now owns 9,943 shares of the shipping company’s stock worth $46,000 after acquiring an additional 8,185 shares during the last quarter. West Chester Capital Advisors Inc. acquired a new stake in Eagle Bulk Shipping during the first quarter worth about $47,000. Mraz Amerine & Associates Inc. acquired a new stake in Eagle Bulk Shipping during the first quarter worth about $87,000. Parametric Portfolio Associates LLC increased its stake in Eagle Bulk Shipping by 42.4% during the first quarter. Parametric Portfolio Associates LLC now owns 23,814 shares of the shipping company’s stock worth $111,000 after acquiring an additional 7,089 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Eagle Bulk Shipping during the fourth quarter worth about $153,000. Hedge funds and other institutional investors own 84.11% of the company’s stock.
About Eagle Bulk Shipping
Eagle Bulk Shipping, Inc is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.
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