Trexquant Investment LP bought a new position in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) during the third quarter, HoldingsChannel reports. The firm bought 11,869 shares of the shipping company’s stock, valued at approximately $598,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Citigroup Inc. boosted its position in Eagle Bulk Shipping by 161.8% during the third quarter. Citigroup Inc. now owns 1,076 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 665 shares during the last quarter. USA Financial Portformulas Corp bought a new position in Eagle Bulk Shipping during the third quarter valued at about $161,000. PDT Partners LLC bought a new position in Eagle Bulk Shipping during the second quarter valued at about $220,000. Stifel Financial Corp bought a new position in Eagle Bulk Shipping during the second quarter valued at about $237,000. Finally, The Manufacturers Life Insurance Company bought a new position in Eagle Bulk Shipping during the second quarter valued at about $245,000. Hedge funds and other institutional investors own 72.35% of the company’s stock.
NASDAQ:EGLE opened at $48.75 on Tuesday. The firm has a 50-day simple moving average of $42.95 and a two-hundred day simple moving average of $44.12. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.13 and a current ratio of 1.23. The firm has a market cap of $662.56 million, a P/E ratio of 7.49 and a beta of 1.28. Eagle Bulk Shipping Inc. has a fifty-two week low of $21.12 and a fifty-two week high of $56.47.
EGLE has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Eagle Bulk Shipping from a “strong sell” rating to a “hold” rating in a research report on Monday. BTIG Research reiterated a “buy” rating and set a $64.00 target price on shares of Eagle Bulk Shipping in a research report on Friday, November 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $58.40.
Eagle Bulk Shipping Company 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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