Gary Vogel, the Chief Executive Officer of Eagle Bulk Shipping Inc. (NASDAQ: EGLE), recently sold 15,000 of the company’s shares of stock on December 21. The total value of the company’s stock that changed hands was $761,850, with each share changing hands for an average price of $50.79. Following the successful conclusion of the transaction, the Chief Executive Officer (CEO) was awarded direct ownership of 147,521 shares of the company, each of which has an approximate value of 7,492,591.59 dollars. You will be taken to the legal file presented to the Securities and Exchange Commission if you click the link. In this file, the transaction is described in greater detail.
Eagle Bulk Shipping (NASDAQ: EGLE), which provided the public with a report on its performance on November 3, disclosed its performance. The shipping company announced earnings per share for the quarter of $4.58, which is $0.27 higher than the consensus estimate of $4.31 provided by industry professionals. The return on equity for Eagle Bulk Shipping was 39.29 percent, whereas the net margin was 41.46 percent. The company’s quarterly revenue came in at a staggering $144.52 million, significantly higher than the market experts’ consensus estimate of $136.83 million for the quarter revenue. Market research analysts predict that Eagle Bulk Shipping Inc. will make 16.67 cents per share in profit during the current fiscal year.
In addition, the business recently announced and paid a quarterly dividend, which was paid out on November 23, after the dividend was declared and distributed. On Tuesday, November 15, $1.80 dividend payments per share were mailed out to stockholders who already had their information on file. The dividend distribution occurred on November 14, when the payment was made. When calculated annually, this results in a dividend yield of 14.08% and $7.20. In terms of percentages, Eagle Bulk Shipping has a payout percentage of 37.48%.
EGLE shares were first offered for trading on Friday for $51.13. The moving averages for the previous 50 days at the company are $50.67, and the moving averages for the previous 200 days are $49.96. The price-to-earnings ratio for the company is 2.66, and its beta value is 1.33. The company currently has a market capitalization of 699.46 million dollars. While the current ratio comes in at 2.06 and the quick ratio comes in at 1.87, the debt-to-equity ratio, current ratio, and quick ratio all come in at 0.36. Eagle Bulk Shipping Inc. reached an all-time high of $78.75 during the past year, while the company’s stock reached a low of $38.10 during the same period.
Several institutional investors have recently modified the company percentage they own in response to recent market events. The percentage of Eagle Bulk Shipping stock that B. Riley Wealth Advisors Inc. owned went up by 20.8% during the third quarter of 2018 when the company reported its financial results. B. Riley Wealth Advisors Inc. now has 24,230 shares of the shipping company’s stock, valued at $1,047,000, after purchasing an additional 4,180 shares during the most recent quarter. By purchasing additional shares of Eagle Bulk Shipping during the third quarter, Alpha Paradigm Partners LLC increased its investment in the company, bringing the total value of its holdings to close to $850,000. In addition, BNP Paribas Arbitrage SNC spent more than $1,007,000 during the third quarter to acquire a new investment in Eagle Bulk Shipping. This purchase was made possible by a capital contribution. The percentage of Eagle Bulk Shipping stock that State Street Corporation owned went up by 12.4% during the third quarter due to the company’s investment. State Street Corp. now has a total of 501,597 shares of the transportation company’s stock after purchasing an additional 55,486 shares during the period. The stock is currently valued at $21,659,000.
Last but not least, Two Sigma Investments LP increased the percentage of Eagle Bulk Shipping shares that it held during the third quarter by 47.9%. This certainly should not be considered the least important development. Two Sigma Investments LP increased its stake in the shipping company by purchasing an additional 58,801 shares during the final three months of 2018, bringing the total number of shares it owned to a total of 123,801. As a result, two Sigma Investments LP is now the owner of 181,628 shares, which have a value of $7,843,000. In addition, a variety of institutional investors, such as hedge funds and pension funds, hold 79.88% of the company’s shares.
EGLE has been in touch with various brokerage firms regarding a potential partnership. Noble Financial reaffirmed its “buy” rating on shares of Eagle Bulk Shipping and provided a price objective of $80.00 for the company in a report published on Monday, November 7. In a research report published on September 26, Jefferies Financial Group announced that they would lower their target price for Eagle Bulk Shipping from $64.00 to $60.00. An announcement was made about the company’s stock. Eagle Bulk Shipping was downgraded by B. Riley from a “buy” rating to a “hold” rating, and their target price was reduced from $82.00 to $72.00 in a research report that was made available to the public on Monday, October 10. On Thursday, September 29, Stifel Nicolaus was surveilling Eagle Bulk Shipping. September 29 fell on a weekday this year. They recommended that the company “buy” the stock and establish a price objective of $62.00. In the report released on Wednesday, October 12, StockNews.com started providing coverage on shares of Eagle Bulk Shipping. This is the last, but not the least, item on the agenda. They advised their clients to “hold” the stock moving forward. There have been six analysts who have suggested to investors that they should purchase the stock, while there has only been one analyst who has recommended that investors keep their existing holdings of the stock. The information provided by Bloomberg indicates that the firm has been given the rating of “Moderate Buy” and that the general price goal for the company is $75.50.
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