Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Stake Raised by Citadel Advisors LLC

Citadel Advisors LLC increased its holdings in Eagle Bulk Shipping Inc. (NASDAQ:EGLE) by 429.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,396 shares of the shipping company’s stock after acquiring an additional 71,685 shares during the period. Citadel Advisors LLC owned about 0.66% of Eagle Bulk Shipping worth $4,183,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Samalin Investment Counsel LLC purchased a new position in Eagle Bulk Shipping in the second quarter valued at about $81,000. Royal Bank of Canada lifted its stake in Eagle Bulk Shipping by 10.7% in the first quarter. Royal Bank of Canada now owns 2,999 shares of the shipping company’s stock valued at $109,000 after acquiring an additional 289 shares during the last quarter. PDT Partners LLC bought a new position in Eagle Bulk Shipping during the second quarter valued at about $220,000. HighTower Advisors LLC bought a new position in Eagle Bulk Shipping during the second quarter valued at about $228,000. Finally, Jacobi Capital Management LLC bought a new position in Eagle Bulk Shipping during the second quarter valued at about $228,000. Hedge funds and other institutional investors own 77.19% of the company’s stock.

Shares of NASDAQ EGLE opened at $40.36 on Thursday. The firm has a market capitalization of $548.53 million, a price-to-earnings ratio of 6.20 and a beta of 1.38. The business has a fifty day simple moving average of $44.98 and a 200 day simple moving average of $45.70. Eagle Bulk Shipping Inc. has a one year low of $17.08 and a one year high of $56.47. The company has a current ratio of 1.23, a quick ratio of 1.13 and a debt-to-equity ratio of 0.64.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings results on Thursday, November 4th. The shipping company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.31 by $0.21. Eagle Bulk Shipping had a net margin of 20.11% and a return on equity of 24.66%. The firm had revenue of $153.12 million during the quarter, compared to the consensus estimate of $137.85 million. During the same period last year, the firm posted ($1.09) EPS. On average, research analysts anticipate that Eagle Bulk Shipping Inc. will post 9.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 24th. Shareholders of record on Monday, November 15th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 19.82%. The ex-dividend date of this dividend was Friday, November 12th. Eagle Bulk Shipping’s dividend payout ratio is currently 122.89%.

Several research firms have weighed in on EGLE. HC Wainwright began coverage on Eagle Bulk Shipping in a report on Monday, September 13th. They set a “buy” rating and a $80.00 target price on the stock. Zacks Investment Research downgraded Eagle Bulk Shipping from a “strong-buy” rating to a “hold” rating in a report on Friday, October 8th. Finally, BTIG Research reiterated a “buy” rating and set a $64.00 price target on shares of Eagle Bulk Shipping in a report on Friday, November 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.67.

About Eagle Bulk Shipping

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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Institutional Ownership by Quarter for Eagle Bulk Shipping (NASDAQ:EGLE)

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