Strategic Value Partners LLC acquired a new stake in Eagle Bulk Shipping Inc (NASDAQ:EGLE) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,394,312 shares of the shipping company’s stock, valued at approximately $10,727,000. Eagle Bulk Shipping makes up about 1.3% of Strategic Value Partners LLC’s portfolio, making the stock its 6th biggest position.
A number of other hedge funds have also added to or reduced their stakes in the stock. Neuberger Berman Group LLC bought a new position in Eagle Bulk Shipping in the 3rd quarter valued at approximately $13,609,000. Mangrove Partners lifted its position in Eagle Bulk Shipping by 1,426.5% in the 3rd quarter. Mangrove Partners now owns 2,377,767 shares of the shipping company’s stock valued at $10,771,000 after acquiring an additional 2,222,000 shares in the last quarter. Vanguard Group Inc. lifted its position in Eagle Bulk Shipping by 175.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,575,759 shares of the shipping company’s stock valued at $7,453,000 after acquiring an additional 1,003,873 shares in the last quarter. Royce & Associates LP lifted its position in Eagle Bulk Shipping by 94.9% in the 4th quarter. Royce & Associates LP now owns 469,804 shares of the shipping company’s stock valued at $2,105,000 after acquiring an additional 228,804 shares in the last quarter. Finally, Raynor Geoffrey lifted its position in Eagle Bulk Shipping by 24.6% in the 4th quarter. Raynor Geoffrey now owns 447,011 shares of the shipping company’s stock valued at $2,003,000 after acquiring an additional 88,255 shares in the last quarter. 27.47% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Maxim Group reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Eagle Bulk Shipping in a research report on Monday, March 5th. Zacks Investment Research cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Deutsche Bank initiated coverage on Eagle Bulk Shipping in a research report on Thursday, January 25th. They issued a “buy” rating and a $7.00 price objective on the stock. Noble Financial initiated coverage on Eagle Bulk Shipping in a report on Friday, January 12th. They set a “buy” rating and a $6.00 price target on the stock. Finally, ValuEngine raised Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $5.75.
Eagle Bulk Shipping Inc (EGLE) opened at $5.51 on Wednesday. The firm has a market capitalization of $388.58, a price-to-earnings ratio of -8.61 and a beta of 2.83. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.75 and a current ratio of 4.25. Eagle Bulk Shipping Inc has a twelve month low of $4.18 and a twelve month high of $5.92.
Eagle Bulk Shipping (NASDAQ:EGLE) last released its quarterly earnings results on Monday, March 5th. The shipping company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $74.59 million for the quarter, compared to analysts’ expectations of $58.34 million. Eagle Bulk Shipping had a negative return on equity of 5.97% and a negative net margin of 18.50%. sell-side analysts predict that Eagle Bulk Shipping Inc will post 0.08 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This story was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another publication, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/03/14/strategic-value-partners-llc-invests-10-73-million-in-eagle-bulk-shipping-inc-egle-stock.html.
Eagle Bulk Shipping Profile
Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.
Want to see what other hedge funds are holding EGLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Bulk Shipping Inc (NASDAQ:EGLE).
Receive News & Ratings for Eagle Bulk Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bulk Shipping and related companies with MarketBeat.com's FREE daily email newsletter.