Safe Bulkers (NYSE:SB) Rating Lowered to “Hold” at StockNews.com

Safe Bulkers (NYSE:SB) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Safe Bulkers Trading Down 2.6 %

Shares of SB opened at $4.30 on Wednesday. The firm’s 50-day moving average is $4.63 and its two-hundred day moving average is $5.16. Safe Bulkers has a twelve month low of $3.40 and a twelve month high of $6.33. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $458.58 million, a P/E ratio of 5.37 and a beta of 0.95.

Hedge Funds Weigh In On Safe Bulkers

Several hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its position in shares of Safe Bulkers by 135.2% in the first quarter. Acadian Asset Management LLC now owns 1,898,533 shares of the shipping company’s stock valued at $9,408,000 after purchasing an additional 1,091,277 shares during the last quarter. LSV Asset Management lifted its stake in Safe Bulkers by 440.7% in the 2nd quarter. LSV Asset Management now owns 552,357 shares of the shipping company’s stock valued at $3,215,000 after buying an additional 450,209 shares in the last quarter. Denali Advisors LLC grew its holdings in Safe Bulkers by 316.6% during the 2nd quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock valued at $2,435,000 after buying an additional 317,900 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Safe Bulkers during the third quarter worth $1,480,000. Finally, Walleye Capital LLC acquired a new position in shares of Safe Bulkers in the third quarter worth $1,109,000. 21.69% of the stock is currently owned by hedge funds and other institutional investors.

About Safe Bulkers

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.