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 Stock Performance

Shares of SB traded up $0.06 during trading hours on Wednesday, reaching $4.41. 472,056 shares of the company traded hands, compared to its average volume of 665,943. Safe Bulkers has a 12-month low of $3.26 and a 12-month high of $6.33. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $470.86 million, a P/E ratio of 5.51 and a beta of 0.95. The business has a fifty day moving average price of $4.63 and a 200-day moving average price of $5.16.

Institutional Investors Weigh In On Safe Bulkers

A number of hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC increased its holdings in Safe Bulkers by 269.0% in the third quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock valued at $55,000 after buying an additional 7,800 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Safe Bulkers in the third quarter worth approximately $86,000. Aigen Investment Management LP purchased a new stake in shares of Safe Bulkers during the 3rd quarter valued at $90,000. Banque Cantonale Vaudoise increased its stake in Safe Bulkers by 14.4% during the second 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 last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Safe Bulkers by 26.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,945 shares of the shipping company’s stock valued at $99,000 after purchasing an additional 4,129 shares in the last quarter. 21.69% of the stock is currently owned by institutional investors and hedge funds.

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.