Safe Bulkers, Inc. (NYSE:SB) Short Interest Down 14.5% in August

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Safe Bulkers, Inc. (NYSE:SB) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 616,000 shares, a decrease of 14.5% from the July 31st total of 720,800 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 332,800 shares, the days-to-cover ratio is presently 1.9 days.

Several equities research analysts have weighed in on SB shares. ValuEngine upgraded Safe Bulkers from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 5th. Zacks Investment Research cut Safe Bulkers from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $3.63.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SB. Ruffer LLP bought a new position in shares of Safe Bulkers in the 2nd quarter valued at $700,000. Renaissance Technologies LLC lifted its stake in shares of Safe Bulkers by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,596,495 shares of the shipping company’s stock valued at $5,611,000 after acquiring an additional 148,795 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Safe Bulkers by 73.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 110,003 shares of the shipping company’s stock valued at $172,000 after acquiring an additional 46,480 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Safe Bulkers in the 2nd quarter valued at $48,000. Finally, Northern Trust Corp lifted its stake in shares of Safe Bulkers by 6.2% in the 2nd quarter. Northern Trust Corp now owns 454,723 shares of the shipping company’s stock valued at $710,000 after acquiring an additional 26,368 shares during the last quarter. Hedge funds and other institutional investors own 14.90% of the company’s stock.

NYSE SB traded up $0.02 on Friday, hitting $2.18. 302,809 shares of the company’s stock were exchanged, compared to its average volume of 334,642. The stock has a 50-day moving average of $1.92 and a 200-day moving average of $1.69. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.13. Safe Bulkers has a 52 week low of $1.28 and a 52 week high of $3.05. The stock has a market cap of $220.77 million, a price-to-earnings ratio of 12.82 and a beta of 1.66.

Safe Bulkers (NYSE:SB) last released its earnings results on Tuesday, September 3rd. The shipping company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). Safe Bulkers had a return on equity of 5.45% and a net margin of 12.51%. The business had revenue of $45.52 million for the quarter, compared to the consensus estimate of $45.65 million. As a group, analysts predict that Safe Bulkers will post 0.09 earnings per share for the current year.

About Safe Bulkers

Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 14, 2019, the company had a fleet of 41 drybulk vessels having an average age of 8.5 years; and an aggregate carrying capacity of 3.8 million deadweight tons.

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