Insider Buying: Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Major Shareholder Buys $1,302,235.20 in Stock

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) major shareholder Oaktree Capital Group Holdings acquired 310,056 shares of Eagle Bulk Shipping stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $4.20 per share, with a total value of $1,302,235.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Oaktree Capital Group Holdings also recently made the following trade(s):

  • On Tuesday, August 6th, Oaktree Capital Group Holdings acquired 550,000 shares of Eagle Bulk Shipping stock. The stock was purchased at an average price of $4.32 per share, with a total value of $2,376,000.00.
  • On Tuesday, July 30th, Oaktree Capital Group Holdings bought 650,000 shares of Eagle Bulk Shipping stock. The stock was bought at an average cost of $4.56 per share, with a total value of $2,964,000.00.
  • On Thursday, July 25th, Oaktree Capital Group Holdings bought 1,000,000 shares of Eagle Bulk Shipping stock. The stock was bought at an average cost of $4.76 per share, with a total value of $4,760,000.00.
  • On Wednesday, June 12th, Oaktree Capital Group Holdings bought 27,300 shares of Eagle Bulk Shipping stock. The stock was bought at an average cost of $4.67 per share, with a total value of $127,491.00.
  • On Thursday, June 6th, Oaktree Capital Group Holdings bought 560,600 shares of Eagle Bulk Shipping stock. The stock was bought at an average cost of $4.70 per share, with a total value of $2,634,820.00.
  • On Monday, June 3rd, Oaktree Capital Group Holdings bought 146,200 shares of Eagle Bulk Shipping stock. The stock was bought at an average cost of $4.62 per share, with a total value of $675,444.00.

Shares of EGLE opened at $4.18 on Friday. Eagle Bulk Shipping Inc. has a 1 year low of $3.85 and a 1 year high of $5.98. The company has a current ratio of 1.03, a quick ratio of 0.85 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $4.95 and a 200-day simple moving average of $4.88. The stock has a market cap of $308.74 million, a PE ratio of 23.22 and a beta of 1.17.

Eagle Bulk Shipping (NASDAQ:EGLE) last released its quarterly earnings results on Monday, July 29th. The shipping company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). Eagle Bulk Shipping had a net margin of 1.03% and a return on equity of 0.27%. The business had revenue of $48.48 million for the quarter, compared to analyst estimates of $49.96 million. On average, sell-side analysts forecast that Eagle Bulk Shipping Inc. will post -0.04 EPS for the current fiscal year.

A number of brokerages have recently issued reports on EGLE. BidaskClub cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Zacks Investment Research cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Noble Financial reissued a “buy” rating and issued a $6.40 target price on shares of Eagle Bulk Shipping in a report on Friday, July 26th. Maxim Group set a $7.00 target price on Eagle Bulk Shipping and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, ValuEngine cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Eagle Bulk Shipping currently has an average rating of “Hold” and an average price target of $6.68.

A number of hedge funds have recently added to or reduced their stakes in EGLE. Victory Capital Management Inc. increased its stake in Eagle Bulk Shipping by 24.0% in the 2nd quarter. Victory Capital Management Inc. now owns 370,800 shares of the shipping company’s stock valued at $1,943,000 after buying an additional 71,650 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Eagle Bulk Shipping in the 2nd quarter valued at about $104,000. Paloma Partners Management Co purchased a new stake in Eagle Bulk Shipping in the 2nd quarter valued at about $98,000. Bank of America Corp DE increased its stake in Eagle Bulk Shipping by 1.9% in the 2nd quarter. Bank of America Corp DE now owns 599,174 shares of the shipping company’s stock valued at $3,140,000 after buying an additional 11,235 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Eagle Bulk Shipping by 30.7% in the 2nd quarter. BlackRock Inc. now owns 3,323,264 shares of the shipping company’s stock valued at $17,414,000 after buying an additional 780,881 shares during the last quarter. 84.20% of the stock is owned by hedge funds and other institutional investors.

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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Insider Buying and Selling by Quarter for Eagle Bulk Shipping (NASDAQ:EGLE)

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