Eagle Bulk Shipping Inc. (EGLE) Stake Lessened by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its stake in Eagle Bulk Shipping Inc. (NASDAQ:EGLE) by 31.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,700 shares of the shipping company’s stock after selling 28,775 shares during the quarter. Oppenheimer & Co. Inc. owned 0.09% of Eagle Bulk Shipping worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc increased its position in shares of Eagle Bulk Shipping by 33.0% during the 3rd quarter. Vanguard Group Inc now owns 2,686,775 shares of the shipping company’s stock valued at $15,100,000 after purchasing an additional 666,715 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Eagle Bulk Shipping by 80.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 918,236 shares of the shipping company’s stock valued at $4,995,000 after purchasing an additional 409,854 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Eagle Bulk Shipping during the 3rd quarter valued at about $109,000. Bank of New York Mellon Corp increased its position in shares of Eagle Bulk Shipping by 22.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 121,017 shares of the shipping company’s stock valued at $658,000 after purchasing an additional 21,947 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Eagle Bulk Shipping by 69.9% during the 4th quarter. Meeder Asset Management Inc. now owns 20,318 shares of the shipping company’s stock valued at $94,000 after purchasing an additional 8,361 shares during the last quarter. 46.91% of the stock is owned by hedge funds and other institutional investors.

In related news, major shareholder Goldentree Asset Management Lp purchased 10,300 shares of the firm’s stock in a transaction that occurred on Monday, January 28th. The shares were bought at an average price of $4.42 per share, for a total transaction of $45,526.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gary Vogel sold 54,424 shares of the stock in a transaction on Friday, January 4th. The shares were sold at an average price of $4.79, for a total value of $260,690.96. Following the sale, the chief executive officer now owns 1,346,776 shares in the company, valued at approximately $6,451,057.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 3,813,469 shares of company stock worth $17,143,907 and have sold 71,445 shares worth $341,008. 3.70% of the stock is owned by corporate insiders.

A number of research analysts recently issued reports on EGLE shares. ValuEngine downgraded Eagle Bulk Shipping from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 19th. Zacks Investment Research downgraded Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. Maxim Group reaffirmed a “buy” rating and set a $7.00 price objective on shares of Eagle Bulk Shipping in a report on Wednesday, January 23rd. Finally, BidaskClub cut Eagle Bulk Shipping from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 13th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Eagle Bulk Shipping presently has a consensus rating of “Buy” and an average price target of $6.79.

Shares of EGLE opened at $4.68 on Wednesday. The company has a market cap of $314.79 million, a PE ratio of -11.14 and a beta of 1.20. Eagle Bulk Shipping Inc. has a 1 year low of $3.85 and a 1 year high of $6.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.91 and a current ratio of 2.16.

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Eagle Bulk Shipping Profile

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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