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

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

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

Safe Bulkers Price Performance

Shares of NYSE SB opened at $3.51 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.34 and a current ratio of 1.34. Safe Bulkers has a fifty-two week low of $3.40 and a fifty-two week high of $6.33. The stock has a market cap of $374.79 million, a PE ratio of 3.90 and a beta of 0.91. The stock has a fifty day moving average of $4.10 and a 200-day moving average of $4.88.

Institutional Investors Weigh In On Safe Bulkers

Institutional investors and hedge funds have recently bought and sold shares of the stock. LSV Asset Management increased its position in shares of Safe Bulkers by 440.7% during the 2nd 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 during the last quarter. Acadian Asset Management LLC boosted its stake in Safe Bulkers by 20.0% in the second quarter. Acadian Asset Management LLC now owns 2,278,803 shares of the shipping company’s stock worth $13,251,000 after buying an additional 380,270 shares in the last quarter. Denali Advisors LLC grew its position in Safe Bulkers by 316.6% during the second quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock valued at $2,435,000 after acquiring an additional 317,900 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Safe Bulkers during the third quarter valued at approximately $1,480,000. Finally, Walleye Capital LLC purchased a new position in shares of Safe Bulkers during the third quarter worth approximately $1,109,000. 21.69% of the stock is owned by hedge funds and other institutional investors.

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.