Oppenheimer & Co. Inc. Buys New Stake in Eagle Bulk Shipping Inc. (EGLE)

Oppenheimer & Co. Inc. bought a new position in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) during the first quarter, Holdings Channel reports. The institutional investor bought 50,850 shares of the shipping company’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Value Partners LLC purchased a new stake in shares of Eagle Bulk Shipping during the fourth quarter worth about $10,727,000. Royce & Associates LP increased its position in shares of Eagle Bulk Shipping by 94.9% during the fourth quarter. Royce & Associates LP now owns 469,804 shares of the shipping company’s stock worth $2,105,000 after acquiring an additional 228,804 shares during the last quarter. Raynor Geoffrey increased its position in shares of Eagle Bulk Shipping by 24.6% during the fourth quarter. Raynor Geoffrey now owns 447,011 shares of the shipping company’s stock worth $2,003,000 after acquiring an additional 88,255 shares during the last quarter. Deutsche Bank AG increased its position in shares of Eagle Bulk Shipping by 671.5% during the fourth quarter. Deutsche Bank AG now owns 276,596 shares of the shipping company’s stock worth $1,238,000 after acquiring an additional 240,744 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Eagle Bulk Shipping by 664.7% during the fourth quarter. Renaissance Technologies LLC now owns 242,400 shares of the shipping company’s stock worth $1,086,000 after acquiring an additional 210,700 shares during the last quarter. 28.10% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on the company. Zacks Investment Research raised Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday. Maxim Group reaffirmed a “hold” rating and set a $6.00 target price on shares of Eagle Bulk Shipping in a research report on Wednesday, May 9th. ValuEngine raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research report on Wednesday, April 18th. Deutsche Bank assumed coverage on Eagle Bulk Shipping in a research report on Thursday, January 25th. They set a “buy” rating and a $7.00 target price on the stock. Finally, BidaskClub raised Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Eagle Bulk Shipping currently has a consensus rating of “Hold” and a consensus target price of $6.00.

In related news, major shareholder Goldentree Asset Management Lp sold 48,000 shares of Eagle Bulk Shipping stock in a transaction dated Wednesday, April 25th. The stock was sold at an average price of $5.23, for a total value of $251,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is currently owned by company insiders.

Eagle Bulk Shipping opened at $5.57 on Friday, Marketbeat Ratings reports. Eagle Bulk Shipping Inc. has a one year low of $5.37 and a one year high of $5.81. The company has a quick ratio of 2.47, a current ratio of 2.82 and a debt-to-equity ratio of 0.67.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings results on Wednesday, May 9th. The shipping company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The business had revenue of $56.86 million during the quarter, compared to the consensus estimate of $57.24 million. Eagle Bulk Shipping had a negative return on equity of 3.76% and a negative net margin of 12.09%. research analysts predict that Eagle Bulk Shipping Inc. will post 0.31 EPS for the current year.

Eagle Bulk Shipping Profile

Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.

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

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