Goldman Sachs Group Inc. Acquires 171,813 Shares of Safe Bulkers, Inc (SB)
Goldman Sachs Group Inc. raised its stake in shares of Safe Bulkers, Inc (NYSE:SB) by 57.1% during the first quarter, Holdings Channel reports. The firm owned 472,963 shares of the shipping company’s stock after buying an additional 171,813 shares during the period. Goldman Sachs Group Inc.’s holdings in Safe Bulkers were worth $1,041,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Safe Bulkers by 335.2% in the first quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock valued at $2,793,000 after buying an additional 977,900 shares during the period. Phoenix Investment Adviser LLC increased its stake in Safe Bulkers by 3.9% in the first quarter. Phoenix Investment Adviser LLC now owns 573,992 shares of the shipping company’s stock valued at $1,263,000 after buying an additional 21,775 shares during the period. KCG Holdings Inc. increased its stake in Safe Bulkers by 342.8% in the first quarter. KCG Holdings Inc. now owns 350,905 shares of the shipping company’s stock valued at $772,000 after buying an additional 271,650 shares during the period. EAM Investors LLC acquired a new stake in Safe Bulkers during the first quarter valued at approximately $683,000. Finally, Driehaus Capital Management LLC acquired a new stake in Safe Bulkers during the first quarter valued at approximately $569,000. 14.84% of the stock is currently owned by institutional investors and hedge funds.
Safe Bulkers, Inc (SB) traded up 1.97% during trading on Friday, reaching $2.59. 343,718 shares of the company’s stock were exchanged. Safe Bulkers, Inc has a 52 week low of $1.09 and a 52 week high of $2.75. The stock has a 50-day moving average price of $2.51 and a 200 day moving average price of $2.07. The firm’s market capitalization is $262.53 million.
Safe Bulkers (NYSE:SB) last released its quarterly earnings results on Wednesday, July 26th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.02. The firm had revenue of $35.01 million for the quarter, compared to analyst estimates of $36.81 million. Safe Bulkers had a negative return on equity of 3.34% and a negative net margin of 26.74%. The company’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) EPS. Equities research analysts forecast that Safe Bulkers, Inc will post ($0.22) earnings per share for the current fiscal year.
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Several equities analysts recently issued reports on SB shares. TheStreet upgraded shares of Safe Bulkers from a “d+” rating to a “c-” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Jefferies Group LLC boosted their target price on shares of Safe Bulkers from $1.50 to $2.50 and gave the company a “hold” rating in a research note on Monday, April 24th. Stifel Nicolaus reiterated a “hold” rating and issued a $2.25 target price on shares of Safe Bulkers in a research note on Wednesday, July 19th. Finally, BidaskClub cut shares of Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Safe Bulkers presently has an average rating of “Hold” and an average target price of $2.56.
About Safe Bulkers
Safe Bulkers, Inc is a holding company. The Company’s principal business is the acquisition, ownership and operation of drybulk vessels. The Company’s vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world.
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