Eagle Bulk Shipping Inc. (NASDAQ:EGLE) major shareholder Goldentree Asset Management Lp purchased 93,354 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The shares were purchased at an average cost of $4.67 per share, with a total value of $435,963.18. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Goldentree Asset Management Lp also recently made the following trade(s):

  • On Monday, November 19th, Goldentree Asset Management Lp purchased 90,030 shares of Eagle Bulk Shipping stock. The shares were purchased at an average cost of $4.53 per share, with a total value of $407,835.90.
  • On Tuesday, November 13th, Goldentree Asset Management Lp purchased 713,610 shares of Eagle Bulk Shipping stock. The shares were purchased at an average cost of $4.57 per share, with a total value of $3,261,197.70.

Shares of NASDAQ EGLE opened at $4.37 on Wednesday. The firm has a market capitalization of $325.75 million, a price-to-earnings ratio of 63.71 and a beta of 1.73. The company has a quick ratio of 1.91, a current ratio of 2.16 and a debt-to-equity ratio of 0.63. Eagle Bulk Shipping Inc. has a fifty-two week low of $4.18 and a fifty-two week high of $6.14.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings data on Tuesday, November 6th. The shipping company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $53.97 million during the quarter, compared to analysts’ expectations of $57.49 million. Eagle Bulk Shipping had a positive return on equity of 0.96% and a negative net margin of 3.52%. As a group, equities research analysts forecast that Eagle Bulk Shipping Inc. will post 0.2 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new position in Eagle Bulk Shipping in the 3rd quarter valued at $109,000. Wells Fargo & Company MN raised its holdings in Eagle Bulk Shipping by 278.0% in the 1st quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock valued at $112,000 after acquiring an additional 16,601 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Eagle Bulk Shipping by 319.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 26,944 shares of the shipping company’s stock valued at $146,000 after acquiring an additional 20,514 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Eagle Bulk Shipping by 57,096.6% during the 1st quarter. Royal Bank of Canada now owns 33,174 shares of the shipping company’s stock worth $164,000 after buying an additional 33,116 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Eagle Bulk Shipping during the 3rd quarter worth $218,000. 48.18% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the company. BidaskClub cut Eagle Bulk Shipping from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 13th. Zacks Investment Research cut Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. ValuEngine cut Eagle Bulk Shipping from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 25th. B. Riley started coverage on Eagle Bulk Shipping in a report on Thursday, October 4th. They issued a “buy” rating and a $8.50 price objective for the company. Finally, Noble Financial reaffirmed a “buy” rating on shares of Eagle Bulk Shipping in a report on Thursday, September 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Eagle Bulk Shipping currently has an average rating of “Buy” and an average target price of $7.17.

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Eagle Bulk Shipping Company Profile

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.

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