Q Global Advisors LLC reduced its stake in shares of Eagle Bulk Shipping Inc (NASDAQ:EGLE) by 35.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 830,351 shares of the shipping company’s stock after selling 460,915 shares during the quarter. Eagle Bulk Shipping accounts for 10.1% of Q Global Advisors LLC’s portfolio, making the stock its 5th largest position. Q Global Advisors LLC’s holdings in Eagle Bulk Shipping were worth $3,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Neuberger Berman Group LLC acquired a new stake in shares of Eagle Bulk Shipping in the third quarter valued at $13,609,000. Strategic Value Partners LLC acquired a new stake in shares of Eagle Bulk Shipping in the fourth quarter valued at $10,727,000. Mangrove Partners increased its stake in shares of Eagle Bulk Shipping by 1,426.5% in the third quarter. Mangrove Partners now owns 2,377,767 shares of the shipping company’s stock valued at $10,771,000 after buying an additional 2,222,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Eagle Bulk Shipping by 175.5% in the second quarter. Vanguard Group Inc. now owns 1,575,759 shares of the shipping company’s stock valued at $7,453,000 after buying an additional 1,003,873 shares in the last quarter. Finally, State Street Corp acquired a new stake in shares of Eagle Bulk Shipping in the second quarter valued at $1,905,000. Hedge funds and other institutional investors own 27.47% of the company’s stock.
A number of brokerages have recently weighed in on EGLE. BidaskClub upgraded Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Maxim Group restated a “hold” rating and issued a $5.00 target price on shares of Eagle Bulk Shipping in a research note on Monday, March 5th. Zacks Investment Research lowered Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. ValuEngine upgraded Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Noble Financial began coverage on Eagle Bulk Shipping in a research note on Friday, January 12th. They issued a “buy” rating and a $6.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Eagle Bulk Shipping has a consensus rating of “Hold” and a consensus price target of $5.75.
Eagle Bulk Shipping Inc (NASDAQ EGLE) opened at $5.52 on Thursday. The stock has a market capitalization of $387.87, a PE ratio of -8.63 and a beta of 2.83. Eagle Bulk Shipping Inc has a 1-year low of $4.18 and a 1-year high of $5.92. The company has a quick ratio of 3.75, a current ratio of 3.41 and a debt-to-equity ratio of 0.68.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings results on Monday, March 5th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business 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 6.04% and a negative net margin of 18.50%. equities analysts forecast that Eagle Bulk Shipping Inc will post 0.08 EPS for the current year.
WARNING: This report was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international copyright and trademark law. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/03/15/eagle-bulk-shipping-inc-egle-holdings-cut-by-q-global-advisors-llc.html.
Eagle Bulk Shipping Company 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.