Nisa Investment Advisors LLC Decreases Stock Holdings in Eagle Bulk Shipping Inc. (NASDAQ:EGLE)

Nisa Investment Advisors LLC lessened its stake in Eagle Bulk Shipping Inc. (NASDAQ:EGLE) by 87.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 507 shares of the shipping company’s stock after selling 3,608 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Eagle Bulk Shipping were worth $28,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP raised its position in shares of Eagle Bulk Shipping by 62.1% during the 3rd quarter. Quantbot Technologies LP now owns 3,593 shares of the shipping company’s stock worth $151,000 after purchasing an additional 1,376 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Eagle Bulk Shipping during the third quarter valued at approximately $286,000. Exchange Traded Concepts LLC lifted its position in shares of Eagle Bulk Shipping by 10.1% in the third quarter. Exchange Traded Concepts LLC now owns 9,067 shares of the shipping company’s stock valued at $381,000 after acquiring an additional 831 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Eagle Bulk Shipping in the fourth quarter worth approximately $383,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Eagle Bulk Shipping in the fourth quarter worth approximately $617,000. 70.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Alliance Global Partners restated a “neutral” rating on shares of Eagle Bulk Shipping in a report on Monday, February 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $55.00 price objective on shares of Eagle Bulk Shipping in a research note on Wednesday, January 31st. Stifel Nicolaus restated a “hold” rating and set a $55.00 target price (up from $54.00) on shares of Eagle Bulk Shipping in a report on Friday, January 26th. StockNews.com assumed coverage on Eagle Bulk Shipping in a report on Tuesday, April 16th. They issued a “sell” rating for the company. Finally, BTIG Research reissued a “neutral” rating on shares of Eagle Bulk Shipping in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.75.

Eagle Bulk Shipping Price Performance

EGLE stock opened at $62.60 on Tuesday. The firm has a market cap of $692.98 million, a PE ratio of 40.92 and a beta of 1.49. Eagle Bulk Shipping Inc. has a one year low of $39.15 and a one year high of $65.09. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.77 and a current ratio of 0.89. The firm’s 50 day moving average price is $61.58 and its 200-day moving average price is $53.26.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings results on Monday, March 4th. The shipping company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.75 by $0.38. The business had revenue of $104.59 million for the quarter, compared to analyst estimates of $76.16 million. Eagle Bulk Shipping had a return on equity of 4.62% and a net margin of 5.77%. On average, equities research analysts anticipate that Eagle Bulk Shipping Inc. will post 4.86 EPS for the current year.

Eagle Bulk Shipping Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This is a boost from Eagle Bulk Shipping’s previous quarterly dividend of $0.10. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.83%. Eagle Bulk Shipping’s dividend payout ratio (DPR) is currently 156.86%.

Insider Activity

In related news, major shareholder Castor Maritime Inc. bought 69,635 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was purchased at an average price of $62.65 per share, for a total transaction of $4,362,632.75. Following the acquisition, the insider now owns 1,461,135 shares of the company’s stock, valued at $91,540,107.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.90% of the company’s stock.

Eagle Bulk Shipping Profile

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