Harvey Capital Management Inc. Has $155,000 Stock Holdings in Safe Bulkers, Inc. (NYSE:SB)

Harvey Capital Management Inc. lowered its position in shares of Safe Bulkers, Inc. (NYSE:SB) by 93.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the shipping company’s stock after selling 429,429 shares during the quarter. Harvey Capital Management Inc.’s holdings in Safe Bulkers were worth $155,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake 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 buying an additional 1,091,277 shares in the last quarter. LSV Asset Management increased its holdings in shares of Safe Bulkers by 440.7% in the second quarter. LSV Asset Management now owns 552,357 shares of the shipping company’s stock valued at $3,215,000 after purchasing an additional 450,209 shares in the last quarter. Denali Advisors LLC raised its position in shares of Safe Bulkers by 316.6% during the second quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock worth $2,435,000 after acquiring an additional 317,900 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Safe Bulkers by 3,273.7% during the 1st quarter. Russell Investments Group Ltd. now owns 165,345 shares of the shipping company’s stock valued at $821,000 after purchasing an additional 160,444 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Safe Bulkers by 9.8% during the 2nd quarter. American Century Companies Inc. now owns 1,765,187 shares of the shipping company’s stock worth $10,273,000 after buying an additional 157,163 shares during the period. 21.69% of the stock is owned by institutional investors.

Safe Bulkers Price Performance

Shares of Safe Bulkers stock remained flat at $4.19 on Friday. 386,317 shares of the company’s stock traded hands, compared to its average volume of 528,541. The firm has a 50 day moving average price of $4.74 and a 200-day moving average price of $5.19. The company has a market cap of $447.37 million, a PE ratio of 5.24 and a beta of 0.95. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. Safe Bulkers, Inc. has a 52 week low of $3.12 and a 52 week high of $6.33.

Safe Bulkers 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.