Eagle Bulk Shipping Inc. (NASDAQ:EGLE) CFO Sells $235,897.32 in Stock

Eagle Bulk Shipping Inc. (NASDAQ:EGLEGet Rating) CFO Costanzo Frank De sold 3,022 shares of Eagle Bulk Shipping stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $78.06, for a total value of $235,897.32. Following the completion of the sale, the chief financial officer now directly owns 52,323 shares in the company, valued at approximately $4,084,333.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of NASDAQ EGLE traded up $0.02 during trading hours on Tuesday, hitting $76.47. The company had a trading volume of 422,697 shares, compared to its average volume of 389,491. Eagle Bulk Shipping Inc. has a 1-year low of $36.18 and a 1-year high of $78.75. The company has a quick ratio of 1.16, a current ratio of 1.37 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $66.29 and its 200-day moving average is $54.65. The stock has a market capitalization of $1.05 billion, a P/E ratio of 5.33 and a beta of 1.27.

Eagle Bulk Shipping (NASDAQ:EGLEGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The shipping company reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.01. The firm had revenue of $140.77 million during the quarter, compared to analysts’ expectations of $134.93 million. Eagle Bulk Shipping had a net margin of 33.43% and a return on equity of 40.41%. During the same quarter last year, the company posted $0.84 earnings per share. On average, sell-side analysts predict that Eagle Bulk Shipping Inc. will post 17.9 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 25th. Investors of record on Monday, May 16th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 10.46%. The ex-dividend date was Friday, May 13th. Eagle Bulk Shipping’s payout ratio is currently 55.83%.

A number of research analysts recently issued reports on the company. TheStreet upgraded Eagle Bulk Shipping from a “c” rating to a “b-” rating in a report on Friday, March 4th. StockNews.com downgraded shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Monday. Zacks Investment Research raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Wednesday, May 11th. B. Riley raised their target price on shares of Eagle Bulk Shipping from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, March 7th. Finally, Jefferies Financial Group initiated coverage on shares of Eagle Bulk Shipping in a research report on Wednesday, April 27th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $71.75.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its position in shares of Eagle Bulk Shipping by 214.9% in the second quarter. Wells Fargo & Company MN now owns 16,263 shares of the shipping company’s stock valued at $770,000 after buying an additional 11,098 shares during the last quarter. BlackRock Inc. lifted its holdings in Eagle Bulk Shipping by 8.6% during the 3rd quarter. BlackRock Inc. now owns 705,937 shares of the shipping company’s stock valued at $35,594,000 after purchasing an additional 56,014 shares during the last quarter. Citigroup Inc. lifted its holdings in Eagle Bulk Shipping by 161.8% during the 3rd quarter. Citigroup Inc. now owns 1,076 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 665 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Eagle Bulk Shipping by 287.6% during the third quarter. Goldman Sachs Group Inc. now owns 94,725 shares of the shipping company’s stock worth $4,776,000 after purchasing an additional 70,288 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Eagle Bulk Shipping by 16.1% in the third quarter. American Century Companies Inc. now owns 14,923 shares of the shipping company’s stock valued at $752,000 after purchasing an additional 2,071 shares during the last quarter. 72.13% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Bulk Shipping Company Profile (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.

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