Eagle Bulk Shipping Inc. (NASDAQ:EGLE) shares were down 6.9% during mid-day trading on Thursday . The company traded as low as $4.69 and last traded at $4.87. Approximately 526,655 shares changed hands during mid-day trading, an increase of 63% from the average daily volume of 323,098 shares. The stock had previously closed at $5.23.

A number of research analysts have recently issued reports on EGLE shares. Morgan Stanley set a $5.00 price objective on shares of Eagle Bulk Shipping and gave the stock a “hold” rating in a research report on Friday, February 15th. Noble Financial reaffirmed a “buy” rating and issued a $6.40 price objective on shares of Eagle Bulk Shipping in a research report on Friday, March 8th. BidaskClub raised shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Maxim Group set a $7.00 price objective on shares of Eagle Bulk Shipping and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, TheStreet raised shares of Eagle Bulk Shipping from a “d+” rating to a “c” rating in a research report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $6.61.

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.30. The stock has a market capitalization of $354.80 million, a PE ratio of 26.94 and a beta of 1.23.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its quarterly earnings data on Tuesday, March 5th. The shipping company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Eagle Bulk Shipping had a net margin of 4.07% and a return on equity of 2.25%. The firm had revenue of $61.97 million for the quarter, compared to the consensus estimate of $61.14 million. As a group, analysts predict that Eagle Bulk Shipping Inc. will post 0.07 earnings per share for the current year.

In related news, major shareholder Oaktree Capital Group Holdings bought 157,931 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was bought at an average cost of $4.54 per share, for a total transaction of $717,006.74. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gary Vogel sold 45,520 shares of Eagle Bulk Shipping stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $5.30, for a total transaction of $241,256.00. Following the completion of the sale, the chief executive officer now owns 1,147,032 shares of the company’s stock, valued at $6,079,269.60. The disclosure for this sale can be found here. In the last ninety days, insiders bought 1,211,729 shares of company stock worth $5,427,039. Insiders own 4.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in EGLE. Oaktree Capital Management LP boosted its stake in Eagle Bulk Shipping by 3,224.5% in the 4th quarter. Oaktree Capital Management LP now owns 26,109,536 shares of the shipping company’s stock worth $120,365,000 after purchasing an additional 25,324,173 shares in the last quarter. Royce & Associates LP boosted its stake in Eagle Bulk Shipping by 62.2% in the 4th quarter. Royce & Associates LP now owns 1,777,474 shares of the shipping company’s stock worth $8,194,000 after purchasing an additional 681,470 shares in the last quarter. Vanguard Group Inc boosted its stake in Eagle Bulk Shipping by 33.0% in the 3rd quarter. Vanguard Group Inc now owns 2,686,775 shares of the shipping company’s stock worth $15,100,000 after purchasing an additional 666,715 shares in the last quarter. Vanguard Group Inc. boosted its stake in Eagle Bulk Shipping by 33.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,686,775 shares of the shipping company’s stock worth $15,100,000 after purchasing an additional 666,715 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Eagle Bulk Shipping by 27.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,568,549 shares of the shipping company’s stock worth $7,231,000 after purchasing an additional 334,039 shares in the last quarter. Institutional investors own 82.80% of the company’s stock.

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Eagle Bulk Shipping Company Profile (NASDAQ:EGLE)

Eagle Bulk Shipping, Inc is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.

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