Insider Selling: Eagle Bulk Shipping Inc. (NASDAQ:EGLE) CEO Sells 32,120 Shares of Stock

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Eagle Bulk Shipping Inc. (NASDAQ:EGLE) CEO Gary Vogel sold 32,120 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $5.65, for a total transaction of $181,478.00. Following the transaction, the chief executive officer now owns 1,105,432 shares in the company, valued at $6,245,690.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Gary Vogel also recently made the following trade(s):

  • On Thursday, July 11th, Gary Vogel sold 7,250 shares of Eagle Bulk Shipping stock. The shares were sold at an average price of $5.59, for a total transaction of $40,527.50.
  • On Tuesday, April 23rd, Gary Vogel sold 45,520 shares of Eagle Bulk Shipping stock. The shares were sold at an average price of $5.30, for a total transaction of $241,256.00.

EGLE stock opened at $5.65 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.30. Eagle Bulk Shipping Inc. has a 1 year low of $3.85 and a 1 year high of $6.09. The firm has a fifty day simple moving average of $4.99. The firm has a market cap of $413.33 million, a price-to-earnings ratio of 37.67 and a beta of 1.29.

Eagle Bulk Shipping (NASDAQ:EGLE) last released its quarterly earnings data on Tuesday, May 7th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.10. Eagle Bulk Shipping had a net margin of 4.07% and a return on equity of 2.25%. The business had revenue of $51.48 million during the quarter, compared to analyst estimates of $47.72 million. Sell-side analysts anticipate that Eagle Bulk Shipping Inc. will post 0.09 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its stake in shares of Eagle Bulk Shipping by 465.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,943 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 8,185 shares during the last quarter. West Chester Capital Advisors Inc. acquired a new stake in shares of Eagle Bulk Shipping in the 1st quarter valued at $47,000. Bank of New York Mellon Corp lifted its stake in shares of Eagle Bulk Shipping by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 187,576 shares of the shipping company’s stock valued at $864,000 after purchasing an additional 13,262 shares during the last quarter. Mraz Amerine & Associates Inc. acquired a new stake in shares of Eagle Bulk Shipping in the 1st quarter valued at $87,000. Finally, Rhumbline Advisers lifted its stake in shares of Eagle Bulk Shipping by 42.7% in the 4th quarter. Rhumbline Advisers now owns 68,656 shares of the shipping company’s stock valued at $317,000 after purchasing an additional 20,557 shares during the last quarter. 84.11% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently commented on EGLE shares. Maxim Group set a $7.00 price target on shares of Eagle Bulk Shipping and gave the company a “buy” rating in a report on Wednesday, May 8th. ValuEngine upgraded shares of Zuora from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. BidaskClub upgraded shares of Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Finally, Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $6.68.

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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