Eagle Bulk Shipping Inc. (EGLE) Stake Boosted by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its stake in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) by 69.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,318 shares of the shipping company’s stock after acquiring an additional 8,361 shares during the quarter. Meeder Asset Management Inc.’s holdings in Eagle Bulk Shipping were worth $94,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sippican Capital Advisors increased its holdings in shares of Eagle Bulk Shipping by 17.1% during the fourth quarter. Sippican Capital Advisors now owns 17,550 shares of the shipping company’s stock valued at $81,000 after acquiring an additional 2,560 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of Eagle Bulk Shipping during the third quarter valued at about $109,000. Tower Research Capital LLC TRC increased its holdings in shares of Eagle Bulk Shipping by 319.0% during the second quarter. Tower Research Capital LLC TRC now owns 26,944 shares of the shipping company’s stock valued at $146,000 after acquiring an additional 20,514 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Eagle Bulk Shipping during the third quarter valued at about $218,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Eagle Bulk Shipping during the third quarter valued at about $226,000. Hedge funds and other institutional investors own 47.13% of the company’s stock.

Shares of NASDAQ:EGLE opened at $4.43 on Monday. Eagle Bulk Shipping Inc. has a twelve month low of $4.03 and a twelve month 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. The company has a market capitalization of $323.56 million, a P/E ratio of 63.29 and a beta of 1.38.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its quarterly earnings results on Tuesday, November 6th. The shipping company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. Eagle Bulk Shipping had a negative net margin of 3.52% and a positive return on equity of 0.96%. The company had revenue of $53.97 million for the quarter, compared to the consensus estimate of $57.49 million. On average, analysts forecast that Eagle Bulk Shipping Inc. will post 0.17 earnings per share for the current year.

In other Eagle Bulk Shipping news, major shareholder Goldentree Asset Management Lp purchased 713,610 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The shares were bought at an average price of $4.57 per share, for a total transaction of $3,261,197.70. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary Vogel sold 54,424 shares of the stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $4.79, for a total transaction of $260,690.96. Following the completion of the transaction, 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. In the last quarter, insiders purchased 4,365,557 shares of company stock worth $19,754,979 and sold 71,445 shares worth $341,008. 3.70% of the stock is currently owned by corporate insiders.

Several equities analysts have recently issued reports on the stock. Maxim Group restated a “buy” rating and set a $7.00 price objective on shares of Eagle Bulk Shipping in a report on Wednesday, January 23rd. Zacks Investment Research downgraded shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Thursday, January 17th. BidaskClub upgraded shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a report on Saturday, January 5th. Finally, ValuEngine downgraded shares of Eagle Bulk Shipping from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 25th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $6.79.

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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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