SeaCrest Wealth Management LLC Acquires Shares of 564 Eagle Bulk Shipping Inc. (NASDAQ:EGLE)

SeaCrest Wealth Management LLC acquired a new stake in Eagle Bulk Shipping Inc. (NASDAQ:EGLEGet Rating) in the second quarter, HoldingsChannel.com reports. The firm acquired 564 shares of the shipping company’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EGLE. Victory Capital Management Inc. lifted its stake in Eagle Bulk Shipping by 421.4% in the first quarter. Victory Capital Management Inc. now owns 181,398 shares of the shipping company’s stock valued at $11,424,000 after buying an additional 146,608 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Eagle Bulk Shipping in the first quarter valued at approximately $7,574,000. Prospera Financial Services Inc lifted its stake in Eagle Bulk Shipping by 129,352.1% in the second quarter. Prospera Financial Services Inc now owns 62,137 shares of the shipping company’s stock valued at $3,224,000 after buying an additional 62,089 shares during the last quarter. Paradiem LLC purchased a new stake in Eagle Bulk Shipping in the second quarter valued at approximately $2,829,000. Finally, Bank of New York Mellon Corp purchased a new stake in Eagle Bulk Shipping in the first quarter valued at approximately $3,496,000. Hedge funds and other institutional investors own 86.73% of the company’s stock.

Eagle Bulk Shipping Trading Up 0.4 %

Shares of EGLE stock opened at $51.73 on Wednesday. The business’s fifty day moving average price is $48.33 and its 200 day moving average price is $52.43. Eagle Bulk Shipping Inc. has a 1-year low of $37.05 and a 1-year high of $78.75. The firm has a market capitalization of $707.72 million, a PE ratio of 2.69 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.06 and a quick ratio of 1.87.

Eagle Bulk Shipping Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Tuesday, November 15th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $7.20 dividend on an annualized basis and a yield of 13.92%. Eagle Bulk Shipping’s payout ratio is 37.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com assumed coverage on Eagle Bulk Shipping in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Jefferies Financial Group dropped their target price on Eagle Bulk Shipping from $64.00 to $60.00 in a report on Monday, September 26th. Stifel Nicolaus assumed coverage on Eagle Bulk Shipping in a report on Thursday, September 29th. They issued a “buy” rating and a $62.00 target price on the stock. Noble Financial reissued a “buy” rating and issued a $84.00 target price on shares of Eagle Bulk Shipping in a report on Monday, November 7th. Finally, Alliance Global Partners assumed coverage on Eagle Bulk Shipping in a report on Wednesday, August 3rd. They issued a “buy” rating and a $85.00 target price on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.50.

About Eagle Bulk Shipping

(Get Rating)

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, cement, and forest products. It serves miners, producers, traders, and end users.

Further Reading

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

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