Safe Bulkers, Inc $SB Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its stake in Safe Bulkers, Inc (NYSE:SB) by 59.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,572 shares of the shipping company’s stock after selling 183,705 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.12% of Safe Bulkers worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Aristides Capital LLC boosted its stake in Safe Bulkers by 7.3% during the first quarter. Aristides Capital LLC now owns 45,344 shares of the shipping company’s stock worth $167,000 after buying an additional 3,104 shares during the last quarter. Algert Global LLC raised its holdings in shares of Safe Bulkers by 13.6% during the 1st quarter. Algert Global LLC now owns 28,862 shares of the shipping company’s stock worth $107,000 after acquiring an additional 3,459 shares during the period. Jane Street Group LLC raised its holdings in shares of Safe Bulkers by 3.7% during the 1st quarter. Jane Street Group LLC now owns 135,870 shares of the shipping company’s stock worth $501,000 after acquiring an additional 4,836 shares during the period. MetLife Investment Management LLC boosted its position in shares of Safe Bulkers by 36.6% during the 1st quarter. MetLife Investment Management LLC now owns 30,113 shares of the shipping company’s stock valued at $111,000 after acquiring an additional 8,061 shares during the last quarter. Finally, Regatta Capital Group LLC acquired a new position in shares of Safe Bulkers during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 21.69% of the company’s stock.

Safe Bulkers Trading Down 0.7%

Shares of SB stock opened at $4.72 on Friday. Safe Bulkers, Inc has a 1-year low of $3.02 and a 1-year high of $5.00. The firm has a market cap of $482.44 million, a PE ratio of 10.97 and a beta of 1.23. The company has a 50-day moving average of $4.55 and a two-hundred day moving average of $4.17. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.70 and a quick ratio of 1.70.

Wall Street Analysts Forecast Growth

SB has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Safe Bulkers in a research report on Wednesday, October 8th. Zacks Research raised shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Safe Bulkers currently has a consensus rating of “Moderate Buy” and an average price target of $4.47.

Safe Bulkers Company Profile

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.