Q Global Advisors LLC lessened its position in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) by 35.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 830,351 shares of the shipping company’s stock after selling 460,915 shares during the quarter. Eagle Bulk Shipping makes up approximately 10.1% of Q Global Advisors LLC’s investment portfolio, making the stock its 5th largest holding. Q Global Advisors LLC owned approximately 1.12% of Eagle Bulk Shipping worth $3,720,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in EGLE. Millennium Management LLC grew its position in shares of Eagle Bulk Shipping by 67.9% during the 4th quarter. Millennium Management LLC now owns 146,157 shares of the shipping company’s stock worth $655,000 after buying an additional 59,101 shares during the period. Strategic Value Partners LLC acquired a new stake in shares of Eagle Bulk Shipping during the 4th quarter worth approximately $10,727,000. Raynor Geoffrey grew its position in shares of Eagle Bulk Shipping by 24.6% during the 4th quarter. Raynor Geoffrey now owns 447,011 shares of the shipping company’s stock worth $2,003,000 after buying an additional 88,255 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Eagle Bulk Shipping during the 4th quarter worth approximately $776,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of Eagle Bulk Shipping during the 4th quarter worth approximately $127,000. 28.92% of the stock is owned by institutional investors and hedge funds.
NASDAQ EGLE opened at $4.79 on Friday. Eagle Bulk Shipping Inc. has a 12-month low of $4.18 and a 12-month high of $5.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.41 and a quick ratio of 2.96. The firm has a market capitalization of $338.60, a P/E ratio of -11.40 and a beta of 2.26.
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. Eagle Bulk Shipping had a negative net margin of 18.50% and a negative return on equity of 6.04%. The business had revenue of $74.59 million during the quarter, compared to the consensus estimate of $58.34 million. sell-side analysts expect that Eagle Bulk Shipping Inc. will post 0.03 earnings per share for the current year.
Several analysts have recently commented on EGLE shares. Deutsche Bank started coverage on shares of Eagle Bulk Shipping in a research report on Thursday, January 25th. They set a “buy” rating and a $7.00 price objective for the company. Noble Financial started coverage on shares of Eagle Bulk Shipping in a research report on Friday, January 12th. They set a “buy” rating and a $6.00 price objective for the company. ValuEngine downgraded shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. BidaskClub raised shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, Zacks Investment Research downgraded shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.75.
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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.
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