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

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

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $6.00 price target on shares of Safe Bulkers in a research report on Thursday, November 14th.

Safe Bulkers Trading Up 0.3 %

Shares of NYSE SB opened at $3.51 on Friday. The firm has a 50 day moving average price of $4.10 and a two-hundred day moving average price of $4.88. The stock has a market cap of $374.79 million, a P/E ratio of 3.90 and a beta of 0.91. Safe Bulkers has a 52-week low of $3.40 and a 52-week high of $6.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.34 and a current ratio of 1.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC increased its stake in shares of Safe Bulkers by 269.0% during the 3rd quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock worth $55,000 after purchasing an additional 7,800 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Safe Bulkers in the third quarter valued at $86,000. Aigen Investment Management LP purchased a new position in shares of Safe Bulkers during the 3rd quarter valued at $90,000. Verition Fund Management LLC grew its stake in shares of Safe Bulkers by 27.0% during the 3rd quarter. Verition Fund Management LLC now owns 18,400 shares of the shipping company’s stock worth $95,000 after acquiring an additional 3,913 shares during the period. Finally, Banque Cantonale Vaudoise grew its stake in shares of Safe Bulkers by 14.4% during the 2nd quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock worth $98,000 after acquiring an additional 2,129 shares during the period. Hedge funds and other institutional investors own 21.69% of the company’s stock.

Safe Bulkers Company Profile

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.