Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Shares Bought by Monarch Partners Asset Management LLC

Monarch Partners Asset Management LLC raised its position in Eagle Bulk Shipping Inc. (NASDAQ:EGLE) by 45.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,176 shares of the shipping company’s stock after acquiring an additional 32,100 shares during the quarter. Monarch Partners Asset Management LLC owned approximately 0.14% of Eagle Bulk Shipping worth $447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EGLE. California Public Employees Retirement System boosted its stake in shares of Eagle Bulk Shipping by 6.2% in the 3rd quarter. California Public Employees Retirement System now owns 259,058 shares of the shipping company’s stock valued at $1,133,000 after buying an additional 15,135 shares during the period. Rhumbline Advisers boosted its stake in shares of Eagle Bulk Shipping by 7.5% in the 3rd quarter. Rhumbline Advisers now owns 71,772 shares of the shipping company’s stock valued at $314,000 after buying an additional 4,983 shares during the period. Oaktree Capital Management LP boosted its stake in shares of Eagle Bulk Shipping by 2.9% in the 2nd quarter. Oaktree Capital Management LP now owns 27,034,083 shares of the shipping company’s stock valued at $141,658,000 after buying an additional 766,616 shares during the period. Royal Bank of Canada boosted its stake in shares of Eagle Bulk Shipping by 13.6% in the 2nd quarter. Royal Bank of Canada now owns 41,337 shares of the shipping company’s stock valued at $216,000 after buying an additional 4,955 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Eagle Bulk Shipping by 24.0% in the 2nd quarter. Victory Capital Management Inc. now owns 370,800 shares of the shipping company’s stock valued at $1,943,000 after buying an additional 71,650 shares during the period. 85.33% of the stock is owned by institutional investors.

EGLE stock traded up $0.10 during trading on Friday, hitting $4.05. 405,700 shares of the company’s stock were exchanged, compared to its average volume of 405,619. The business has a 50-day moving average price of $4.44 and a two-hundred day moving average price of $4.79. Eagle Bulk Shipping Inc. has a 52-week low of $3.85 and a 52-week high of $5.92. The stock has a market capitalization of $323.35 million, a price-to-earnings ratio of 22.50 and a beta of 1.42. The company has a current ratio of 1.03, a quick ratio of 0.85 and a debt-to-equity ratio of 0.66.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Wednesday, November 6th. The shipping company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.04). The firm had revenue of $54.66 million during the quarter, compared to analyst estimates of $55.95 million. Eagle Bulk Shipping had a net margin of 1.03% and a return on equity of 0.27%. On average, equities research analysts anticipate that Eagle Bulk Shipping Inc. will post -0.01 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on EGLE. TheStreet cut Eagle Bulk Shipping from a “c” rating to a “d+” rating in a research note on Wednesday, August 14th. Jefferies Financial Group initiated coverage on Eagle Bulk Shipping in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $6.00 price objective for the company. Noble Financial restated a “buy” rating and set a $6.00 target price on shares of Eagle Bulk Shipping in a research note on Wednesday, September 11th. ValuEngine cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Zacks Investment Research cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $5.80.

In other news, Director Paul M. Jr. Leand bought 59,300 shares of the stock in a transaction on Wednesday, August 28th. The shares were bought at an average price of $4.17 per share, with a total value of $247,281.00. Following the completion of the acquisition, the director now owns 189,658 shares of the company’s stock, valued at $790,873.86. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary Vogel sold 11,090 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $4.52, for a total value of $50,126.80. Following the completion of the sale, the chief executive officer now directly owns 1,054,620 shares in the company, valued at approximately $4,766,882.40. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Eagle Bulk Shipping (NASDAQ:EGLE)

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