Oaktree Capital Management LP boosted its position in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) by 0.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 26,267,467 shares of the shipping company’s stock after purchasing an additional 157,931 shares during the period. Eagle Bulk Shipping accounts for approximately 2.3% of Oaktree Capital Management LP’s portfolio, making the stock its 7th largest holding. Oaktree Capital Management LP owned about 0.36% of Eagle Bulk Shipping worth $122,143,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in shares of Eagle Bulk Shipping by 44.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 174,314 shares of the shipping company’s stock worth $980,000 after acquiring an additional 53,297 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Eagle Bulk Shipping by 33.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,686,775 shares of the shipping company’s stock worth $15,100,000 after acquiring an additional 666,715 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Eagle Bulk Shipping by 42.7% during the 4th quarter. Rhumbline Advisers now owns 68,656 shares of the shipping company’s stock worth $317,000 after acquiring an additional 20,557 shares in the last quarter. Signia Capital Management LLC boosted its stake in shares of Eagle Bulk Shipping by 18.0% during the 4th quarter. Signia Capital Management LLC now owns 764,694 shares of the shipping company’s stock worth $3,525,000 after acquiring an additional 116,814 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Eagle Bulk Shipping by 4.0% during the 4th quarter. BlackRock Inc. now owns 2,438,317 shares of the shipping company’s stock worth $11,240,000 after acquiring an additional 93,472 shares in the last quarter. Hedge funds and other institutional investors own 84.11% of the company’s stock.
In related news, CEO Gary Vogel sold 45,520 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $5.30, for a total value of $241,256.00. Following the sale, the chief executive officer now owns 1,147,032 shares of the company’s stock, valued at approximately $6,079,269.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Oaktree Capital Group Holdings bought 27,300 shares of Eagle Bulk Shipping stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average cost of $4.67 per share, for a total transaction of $127,491.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 1,279,354 shares of company stock worth $5,869,387. 4.10% of the stock is owned by corporate insiders.
EGLE stock traded down $0.13 on Friday, reaching $4.69. The company had a trading volume of 160,671 shares, compared to its average volume of 263,466. Eagle Bulk Shipping Inc. has a 1 year low of $3.85 and a 1 year high of $6.14. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.30. The firm has a market cap of $343.10 million, a P/E ratio of 31.27 and a beta of 1.18.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Tuesday, May 7th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. Eagle Bulk Shipping had a return on equity of 2.25% and a net margin of 4.07%. The firm had revenue of $51.48 million for the quarter, compared to analyst estimates of $47.72 million. On average, research analysts predict that Eagle Bulk Shipping Inc. will post 0.09 earnings per share for the current year.
Several equities research analysts have recently commented on the company. BidaskClub raised Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. TheStreet raised Eagle Bulk Shipping from a “d+” rating to a “c” rating in a research note on Wednesday, March 6th. Noble Financial reissued a “buy” rating and set a $6.40 price target on shares of Eagle Bulk Shipping in a research note on Friday, March 8th. Finally, Maxim Group set a $7.00 price target on Eagle Bulk Shipping and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $6.43.
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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.
Read More: Stock Symbol
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).
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