Safe Bulkers (NYSE:SB) Stock Rating Lowered by StockNews.com

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

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

Safe Bulkers Price Performance

Shares of NYSE:SB opened at $3.51 on Friday. The company has a market cap of $374.79 million, a price-to-earnings ratio of 3.90 and a beta of 0.91. The business has a 50 day moving average price of $4.10 and a 200 day moving average price of $4.86. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. Safe Bulkers has a twelve month low of $3.40 and a twelve month high of $6.33.

Institutional Trading of Safe Bulkers

Institutional investors have recently modified their holdings of the company. nVerses Capital LLC lifted its position in Safe Bulkers by 269.0% in the third 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 period. Intech Investment Management LLC bought a new position in shares of Safe Bulkers during the 3rd quarter worth about $86,000. Aigen Investment Management LP acquired a new stake in shares of Safe Bulkers during the 3rd quarter valued at about $90,000. Verition Fund Management LLC boosted its position 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 valued at $95,000 after acquiring an additional 3,913 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in Safe Bulkers by 14.4% in the second quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock valued at $98,000 after acquiring an additional 2,129 shares during the period. Institutional investors and hedge funds own 21.69% of the company’s stock.

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.