Raynor Geoffrey Holds Position in Eagle Bulk Shipping Inc. (EGLE)
Raynor Geoffrey held its stake in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) during the second quarter, according to its most recent filing with the SEC. The firm owned 763,198 shares of the shipping company’s stock at the close of the second quarter. Eagle Bulk Shipping accounts for about 24.2% of Raynor Geoffrey’s portfolio, making the stock its 2nd largest holding. Raynor Geoffrey’s holdings in Eagle Bulk Shipping were worth $3,549,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Nationwide Fund Advisors boosted its holdings in Eagle Bulk Shipping by 1,097.4% during the second quarter. Nationwide Fund Advisors now owns 23,338 shares of the shipping company’s stock worth $110,000 after purchasing an additional 21,389 shares during the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in Eagle Bulk Shipping during the first quarter worth $172,000. Virtu KCG Holdings LLC acquired a new position in Eagle Bulk Shipping during the second quarter worth $174,000. Rhumbline Advisers acquired a new position in Eagle Bulk Shipping during the second quarter worth $206,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in Eagle Bulk Shipping during the second quarter worth $306,000. Institutional investors and hedge funds own 17.75% of the company’s stock.
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Shares of Eagle Bulk Shipping Inc. (EGLE) traded down 0.22% on Friday, reaching $4.62. 137,575 shares of the company traded hands. Eagle Bulk Shipping Inc. has a one year low of $4.06 and a one year high of $11.16. The firm has a 50-day moving average price of $4.64 and a 200 day moving average price of $4.76.
EGLE has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Monday, August 7th. Maxim Group set a $5.00 target price on shares of Eagle Bulk Shipping and gave the stock a “hold” rating in a report on Wednesday, August 30th. ValuEngine upgraded shares of Eagle Bulk Shipping from a “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. Finally, BidaskClub cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Eagle Bulk Shipping currently has an average rating of “Hold” and a consensus target price of $5.67.
About Eagle Bulk Shipping
Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.
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