Eagle Bulk Shipping (NASDAQ:EGLE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) in a research report report published on Thursday morning. The firm issued a hold rating on the shipping company’s stock.

Separately, BTIG Research lifted their target price on Eagle Bulk Shipping from $60.00 to $70.00 and gave the stock a buy rating in a research report on Monday, January 23rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eagle Bulk Shipping has a consensus rating of Moderate Buy and an average target price of $74.71.

Eagle Bulk Shipping Stock Down 5.4 %

NASDAQ:EGLE opened at $45.28 on Thursday. Eagle Bulk Shipping has a twelve month low of $40.13 and a twelve month high of $78.75. The company has a market cap of $620.79 million, a price-to-earnings ratio of 3.03 and a beta of 1.33. The stock has a fifty day simple moving average of $55.35 and a 200-day simple moving average of $50.88. The company has a current ratio of 2.03, a quick ratio of 1.87 and a debt-to-equity ratio of 0.35.

Eagle Bulk Shipping Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, March 14th. This represents a $2.40 annualized dividend and a dividend yield of 5.30%. Eagle Bulk Shipping’s dividend payout ratio is currently 15.68%.

Insider Buying and Selling at Eagle Bulk Shipping

In other Eagle Bulk Shipping news, CEO Gary Vogel sold 15,000 shares of Eagle Bulk Shipping stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $50.79, for a total value of $761,850.00. Following the transaction, the chief executive officer now owns 147,521 shares in the company, valued at $7,492,591.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Eagle Bulk Shipping

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Worth Asset Management LLC purchased a new position in Eagle Bulk Shipping in the fourth quarter valued at about $25,000. Parallel Advisors LLC grew its stake in shares of Eagle Bulk Shipping by 1,822.2% during the fourth quarter. Parallel Advisors LLC now owns 519 shares of the shipping company’s stock worth $26,000 after acquiring an additional 492 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Eagle Bulk Shipping during the second quarter worth about $29,000. Strs Ohio purchased a new stake in shares of Eagle Bulk Shipping during the third quarter worth about $38,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Eagle Bulk Shipping during the third quarter worth about $40,000. Hedge funds and other institutional investors own 79.88% of the company’s stock.

Eagle Bulk Shipping Company Profile

(Get Rating)

Eagle Bulk Shipping, Inc is a holding company, which engages in the ocean transportation of dry bulk cargoes through the ownership, charter, and operation of dry bulk vessels. The company was founded by Sophocles N. Zoullas on March 23, 2005 and is headquartered in Stamford, CT.