SummerHaven Investment Management LLC Has $874,000 Stake in Eagle Bulk Shipping Inc. (NASDAQ:EGLE)

SummerHaven Investment Management LLC boosted its stake in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,784 shares of the shipping company’s stock after buying an additional 200 shares during the quarter. SummerHaven Investment Management LLC owned approximately 0.16% of Eagle Bulk Shipping worth $874,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in shares of Eagle Bulk Shipping by 10.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 9,067 shares of the shipping company’s stock valued at $381,000 after purchasing an additional 831 shares during the period. Gratus Capital LLC increased its position in Eagle Bulk Shipping by 0.4% in the 3rd quarter. Gratus Capital LLC now owns 241,921 shares of the shipping company’s stock valued at $10,168,000 after buying an additional 1,033 shares in the last quarter. Quantbot Technologies LP increased its position in Eagle Bulk Shipping by 62.1% in the 3rd quarter. Quantbot Technologies LP now owns 3,593 shares of the shipping company’s stock valued at $151,000 after buying an additional 1,376 shares in the last quarter. Boston Partners increased its position in Eagle Bulk Shipping by 10.1% in the 3rd quarter. Boston Partners now owns 17,793 shares of the shipping company’s stock valued at $748,000 after buying an additional 1,632 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Eagle Bulk Shipping by 481.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,115 shares of the shipping company’s stock valued at $173,000 after buying an additional 3,407 shares in the last quarter. 70.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EGLE has been the subject of a number of recent research reports. B. Riley boosted their price objective on Eagle Bulk Shipping from $52.20 to $63.50 and gave the stock a “neutral” rating in a report on Monday, March 4th. Stifel Nicolaus restated a “hold” rating and issued a $55.00 target price (up previously from $54.00) on shares of Eagle Bulk Shipping in a research note on Friday, January 26th. StockNews.com initiated coverage on Eagle Bulk Shipping in a research note on Wednesday, April 24th. They issued a “sell” rating on the stock. Jefferies Financial Group restated a “hold” rating and issued a $55.00 target price on shares of Eagle Bulk Shipping in a research note on Wednesday, January 31st. Finally, BTIG Research restated a “neutral” rating on shares of Eagle Bulk Shipping in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.75.

Insider Transactions at Eagle Bulk Shipping

In other news, major shareholder Castor Maritime Inc. purchased 69,635 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were bought at an average cost of $62.65 per share, for a total transaction of $4,362,632.75. Following the acquisition, the insider now owns 1,461,135 shares of the company’s stock, valued at approximately $91,540,107.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Eagle Bulk Shipping Price Performance

Shares of EGLE remained flat at $62.60 on Monday. The company has a market capitalization of $692.98 million, a price-to-earnings ratio of 40.92 and a beta of 1.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.89 and a quick ratio of 0.77. The company has a 50 day moving average of $62.10 and a 200-day moving average of $53.82. Eagle Bulk Shipping Inc. has a one year low of $39.15 and a one year high of $65.09.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Monday, March 4th. The shipping company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.38. The business had revenue of $104.59 million during the quarter, compared to the consensus estimate of $76.16 million. Eagle Bulk Shipping had a net margin of 5.77% and a return on equity of 4.62%. On average, equities analysts forecast that Eagle Bulk Shipping Inc. will post 4.86 EPS for the current year.

Eagle Bulk Shipping Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were paid a $0.60 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $2.40 annualized dividend and a yield of 3.83%. This is a boost from Eagle Bulk Shipping’s previous quarterly dividend of $0.10. Eagle Bulk Shipping’s payout ratio is presently 156.86%.

Eagle Bulk Shipping Company Profile

Eagle Bulk Shipping Inc engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, and cement. It serves miners, producers, traders, and end users.