Dimensional Fund Advisors LP has recently announced that it has increased stake in Eagle Bulk Shipping Inc. (NYSE:EGLE) by 35.42%. After grabbing 0.71 million shares, the institutional investor is now in possession of 0.19 million shares of the Industrials Company. The new investment brought the stake of investor firm to 5.18% having worth around $35.38 million. Moreover, SSgA Funds Management, Inc. increased its share by 55486.0 to have a control over 0.5 million shares. And Marshall Wace LLP raised its holdings to 0.17 million shares by acquiring 0.31 million shares or 2.27% of the stake.
Eagle Bulk Shipping Inc. (EGLE) concluded trading on 01/18/23 at a closing price of $52.42, with 0.21 million shares of worth about $10.88 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 1.75% during that period and on Wednesday the price saw a loss of about -0.61%. Currently the company’s common shares owned by public are about 12.99M shares, out of which, 12.74M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the EGLE stock and their offered price forecasts bring an average price target of $66.11. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $85.00 and could fall to a lowest price of $48.00. The stock’s current price level is 24.42% above of average price target set by the analysts, while a rise to estimated low would result in loss of -9.21% for the stock. However, touching the estimated high of $85.00 would mean a gain of 38.33% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 30 times over the past 12 months. They bought 76,258 shares in 10 of the transactions. In 20 selling transactions, insiders dumped 86,919 shares.
iShares Russell 2000 ETF, Vanguard Total Stock Market Index, and SPDR S&P Transportation ETF are the top 3 mutual funds which are holding stakes in Eagle Bulk Shipping Inc. iShares Russell 2000 ETF is currently holding 0.3 million shares of worth totaling $14.91 million. The company recently came selling 3111.0 shares which brought its stake up to 2.18% of the company’s outstanding shares. SPDR S&P Transportation ETF, after buying 0.18 million shares, have now control over 1.29% of the stake in the company. It holds 0.0 shares of worth $8.79 million.
Eagle Bulk Shipping Inc. (NYSE: EGLE) started trading at $53.00, above $0.26 from concluding price of the previous day. However, the stock later moved at a day high price of 53.89, or with a loss of -0.61%. Stock saw a price change of 3.05% in past 5 days and over the past one month there was a price change of 3.41%. Year-to-date (YTD), EGLE shares are showing a performance of 4.97% which increased to 17.85% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $38.10 but also hit the highest price of $78.75 during that period. The average intraday trading volume for Eagle Bulk Shipping Inc. shares is 224.01K. The stock is currently trading 4.60% above its 20-day simple moving average (SMA20), while that difference is up 2.98% for SMA50 and it goes to -2.25% lower than SMA200.
Dimensional Fund Advisors LP acquired 0.71 million shares of Eagle Bulk Shipping Inc. having value of about $35.38 million. Data submitted at the U.S SEC by Dimensional Fund Advisors LP revealed that the firm now holds 0.19 million shares in the company valued at close to $9712220.34, or have control over 35.42% stake in the company. Eagle Bulk Shipping Inc. (NYSE: EGLE) currently have 12.99M outstanding shares and institutions hold larger chunk of about 86.40% of that. Holding of mutual funds in the company is about 37.61% while other institutional holders and individual stake holders have control over 53.61% and 27.14% of the stake respectively.
The stock has a current market capitalization of $716.58M and its 3Y-monthly beta is at 1.33. PE ratio of stock for trailing 12 months is 2.75, while it has posted earnings per share of $19.05 in the same period. It has Quick Ratio of 1.90 while making debt-to-equity ratio of 0.42. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EGLE, volatility over the week remained 2.47% while standing at 3.14% over the month.
Analysts are in expectations that Eagle Bulk Shipping Inc. (EGLE) stock would likely to be making an EPS of $4.69 in the current quarter, while forecast for next quarter EPS is $2.97 and it is $10.27 for next year. For the current quarter EPS, analysts have given the company a lowest target $3.6 which is $6.23 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $4.52 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 446.60% while it is estimated to decrease by -52.98% in next year.
Analysts at 9 brokerage firms have issued recommendations for the Eagle Bulk Shipping Inc. (EGLE)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 9 Wall Street analysts, 8 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stifel on September 30, 2022 offering a Buy rating for the stock and assigned a target price of $62 to it. Coverage by Alliance Global Partners stated Eagle Bulk Shipping Inc. (EGLE) stock as a Buy in their note to investors on August 03, 2022, suggesting a price target of $85 for the stock. On July 21, 2022, Jefferies Initiated their recommendations, while on April 27, 2022, Jefferies Resumed their ratings for the stock with a price target of $70. Stock get a Buy rating from BTIG Research on October 06, 2021.