Sib LLC continued to hold its position in Safe Bulkers, Inc. (NYSE:SB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,980 shares of the company’s stock at the end of the first quarter. Safe Bulkers accounts for about 0.2% of Sib LLC’s investment portfolio, making the stock its 23rd largest position. Sib LLC owned about 0.11% of Safe Bulkers worth $242,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Berson & Corrado Investment Advisors LLC bought a new stake in shares of Safe Bulkers during the first quarter worth $221,000. Renaissance Technologies LLC raised its stake in shares of Safe Bulkers by 107.0% in the fourth quarter. Renaissance Technologies LLC now owns 291,700 shares of the company’s stock worth $335,000 after buying an additional 150,800 shares in the last quarter. Phoenix Investment Adviser LLC raised its stake in shares of Safe Bulkers by 43.0% in the third quarter. Phoenix Investment Adviser LLC now owns 340,120 shares of the company’s stock worth $480,000 after buying an additional 102,232 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Safe Bulkers during the fourth quarter worth $1,412,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Safe Bulkers during the fourth quarter worth $2,229,000. 12.91% of the stock is owned by hedge funds and other institutional investors.
Safe Bulkers, Inc. (NYSE:SB) traded up 5.56% during mid-day trading on Thursday, reaching $2.47. 720,093 shares of the company traded hands. The stock’s 50-day moving average price is $1.84 and its 200-day moving average price is $1.51. Safe Bulkers, Inc. has a one year low of $0.79 and a one year high of $2.60. The firm’s market cap is $244.87 million.
Safe Bulkers (NYSE:SB) last announced its earnings results on Thursday, February 23rd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The business earned $32.94 million during the quarter, compared to analysts’ expectations of $31.20 million. Safe Bulkers had a negative net margin of 75.21% and a negative return on equity of 6.57%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) EPS. Analysts forecast that Safe Bulkers, Inc. will post ($0.31) earnings per share for the current fiscal year.
A number of analysts have recently weighed in on SB shares. Zacks Investment Research raised shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research note on Tuesday, January 3rd. Stifel Nicolaus started coverage on shares of Safe Bulkers in a research note on Friday, January 20th. They issued a “hold” rating and a $1.50 price target for the company. DNB Markets raised shares of Safe Bulkers from a “hold” rating to a “buy” rating in a research note on Friday, January 27th. Evercore ISI raised shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Friday, February 24th. Finally, Morgan Stanley raised shares of Safe Bulkers from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $1.30 to $3.00 in a research note on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $1.65.
About Safe Bulkers
Safe Bulkers, Inc (Safe Bulkers) is a holding company. The Company’s primary business is the acquisition, ownership and operation of drybulk vessels. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, primarily coal, grain and iron ore, along across the world shipping routes.
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