Macquarie Group Ltd. cut its stake in shares of Safe Bulkers, Inc. (NYSE:SB) by 60.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,900 shares of the shipping company’s stock after selling 32,095 shares during the period. Macquarie Group Ltd.’s holdings in Safe Bulkers were worth $37,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Safe Bulkers during the 3rd quarter valued at $1,993,000. Renaissance Technologies LLC lifted its holdings in shares of Safe Bulkers by 6.5% during the 3rd quarter. Renaissance Technologies LLC now owns 3,350,200 shares of the shipping company’s stock valued at $9,649,000 after acquiring an additional 204,278 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Safe Bulkers by 59.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 666,466 shares of the shipping company’s stock valued at $1,919,000 after acquiring an additional 249,270 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Safe Bulkers during the 4th quarter valued at $218,000. Finally, MCF Advisors LLC acquired a new position in shares of Safe Bulkers during the 4th quarter valued at $50,000. 19.22% of the stock is owned by institutional investors.
Shares of Safe Bulkers stock opened at $1.62 on Friday. The stock has a market capitalization of $166.16 million, a PE ratio of 9.53 and a beta of 1.65. The company has a current ratio of 1.85, a quick ratio of 1.78 and a debt-to-equity ratio of 1.16. Safe Bulkers, Inc. has a 1 year low of $1.28 and a 1 year high of $3.90.
Safe Bulkers (NYSE:SB) last announced its quarterly earnings data on Tuesday, February 19th. The shipping company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Safe Bulkers had a net margin of 14.19% and a return on equity of 6.30%. The business had revenue of $52.57 million for the quarter, compared to the consensus estimate of $52.04 million. Sell-side analysts forecast that Safe Bulkers, Inc. will post 0.17 earnings per share for the current year.
Several equities analysts recently weighed in on the stock. TheStreet upgraded shares of Safe Bulkers from a “d+” rating to a “c” rating in a report on Friday, April 12th. ValuEngine upgraded shares of Safe Bulkers from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 16th. Zacks Investment Research lowered shares of Safe Bulkers from a “hold” rating to a “sell” rating in a report on Friday, January 18th. Finally, Maxim Group cut their price objective on shares of Safe Bulkers to $3.50 and set a “buy” rating on the stock in a report on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $3.92.
Safe Bulkers Company Profile
Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 14, 2019, the company had a fleet of 41 drybulk vessels having an average age of 8.5 years; and an aggregate carrying capacity of 3.8 million deadweight tons.
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