GSA Capital Partners LLP Trims Stock Holdings in Safe Bulkers, Inc $SB

GSA Capital Partners LLP decreased its position in Safe Bulkers, Inc (NYSE:SB) by 51.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 213,613 shares of the shipping company’s stock after selling 222,536 shares during the period. GSA Capital Partners LLP’s holdings in Safe Bulkers were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SB. Tower Research Capital LLC TRC raised its stake in Safe Bulkers by 73.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock worth $40,000 after acquiring an additional 4,692 shares during the last quarter. Cetera Investment Advisers purchased a new position in Safe Bulkers in the 2nd quarter worth $41,000. Evergreen Capital Management LLC purchased a new position in Safe Bulkers in the 2nd quarter worth $46,000. Susquehanna Fundamental Investments LLC purchased a new position in Safe Bulkers in the 3rd quarter worth $46,000. Finally, State of Alaska Department of Revenue raised its stake in Safe Bulkers by 106.8% in the 4th quarter. State of Alaska Department of Revenue now owns 11,599 shares of the shipping company’s stock worth $55,000 after acquiring an additional 5,991 shares during the last quarter. Hedge funds and other institutional investors own 21.69% of the company’s stock.

Safe Bulkers Stock Performance

NYSE SB opened at $6.84 on Friday. The stock has a 50-day simple moving average of $6.56 and a two-hundred day simple moving average of $5.78. The firm has a market capitalization of $699.55 million, a P/E ratio of 22.80 and a beta of 0.89. Safe Bulkers, Inc has a fifty-two week low of $3.53 and a fifty-two week high of $7.38. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.63 and a current ratio of 2.90.

Safe Bulkers (NYSE:SB) last released its quarterly earnings data on Saturday, February 14th. The shipping company reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. The business had revenue of $72.57 million during the quarter, compared to analyst estimates of $70.00 million. Safe Bulkers had a return on equity of 4.91% and a net margin of 13.99%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Safe Bulkers from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

About Safe Bulkers

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.