Macquarie Group Ltd. cut its stake in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) by 71.3% in the 4th quarter, Holdings Channel reports. The fund owned 5,569 shares of the shipping company’s stock after selling 13,821 shares during the quarter. Macquarie Group Ltd.’s holdings in Eagle Bulk Shipping were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of EGLE. Sippican Capital Advisors increased its holdings in shares of Eagle Bulk Shipping by 17.1% during the fourth quarter. Sippican Capital Advisors now owns 17,550 shares of the shipping company’s stock worth $81,000 after purchasing an additional 2,560 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Eagle Bulk Shipping by 69.9% during the fourth quarter. Meeder Asset Management Inc. now owns 20,318 shares of the shipping company’s stock worth $94,000 after purchasing an additional 8,361 shares during the period. Paloma Partners Management Co bought a new position in shares of Eagle Bulk Shipping during the fourth quarter worth approximately $153,000. Rhumbline Advisers increased its holdings in shares of Eagle Bulk Shipping by 42.7% during the fourth quarter. Rhumbline Advisers now owns 68,656 shares of the shipping company’s stock worth $317,000 after purchasing an additional 20,557 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Eagle Bulk Shipping during the third quarter worth approximately $417,000. Hedge funds and other institutional investors own 81.56% of the company’s stock.
Several brokerages have recently commented on EGLE. BidaskClub raised shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Noble Financial reaffirmed a “buy” rating and set a $6.40 target price on shares of Eagle Bulk Shipping in a report on Friday, March 8th. Morgan Stanley set a $5.00 target price on shares of Eagle Bulk Shipping and gave the stock a “hold” rating in a report on Friday, February 15th. Maxim Group reaffirmed a “buy” rating and set a $7.00 target price on shares of Eagle Bulk Shipping in a report on Wednesday, January 23rd. Finally, Zacks Investment Research cut shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Thursday, January 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $6.61.
Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings data on Tuesday, March 5th. The shipping company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $61.97 million for the quarter, compared to analysts’ expectations of $61.14 million. Eagle Bulk Shipping had a net margin of 4.06% and a return on equity of 2.67%. As a group, equities analysts predict that Eagle Bulk Shipping Inc. will post -0.01 EPS for the current fiscal year.
In other news, major shareholder Goldentree Asset Management Lp acquired 81,400 shares of the firm’s stock in a transaction that occurred on Friday, January 25th. The shares were acquired at an average cost of $4.47 per share, with a total value of $363,858.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Oaktree Capital Group Holdings acquired 32,516 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was purchased at an average cost of $4.69 per share, for a total transaction of $152,500.04. The disclosure for this purchase can be found here. Insiders purchased 1,816,011 shares of company stock worth $8,068,641 over the last three months. 3.70% of the stock is currently owned by insiders.
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Eagle Bulk Shipping 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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