Los Angeles Capital Management LLC Takes Position in Safe Bulkers, Inc $SB

Los Angeles Capital Management LLC acquired a new position in shares of Safe Bulkers, Inc (NYSE:SB) during the second quarter, HoldingsChannel.com reports. The firm acquired 19,255 shares of the shipping company’s stock, valued at approximately $70,000.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Safe Bulkers by 6.5% during the 1st quarter. Bank of New York Mellon Corp now owns 167,314 shares of the shipping company’s stock worth $617,000 after purchasing an additional 10,254 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Safe Bulkers by 14.0% in the first quarter. New York State Common Retirement Fund now owns 243,159 shares of the shipping company’s stock valued at $897,000 after acquiring an additional 29,800 shares in the last quarter. GSA Capital Partners LLP raised its stake in Safe Bulkers by 150.2% in the first quarter. GSA Capital Partners LLP now owns 144,374 shares of the shipping company’s stock valued at $533,000 after buying an additional 86,673 shares in the last quarter. Koss Olinger Consulting LLC boosted its holdings in Safe Bulkers by 548.6% in the first quarter. Koss Olinger Consulting LLC now owns 179,664 shares of the shipping company’s stock valued at $663,000 after purchasing an additional 151,964 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of Safe Bulkers in the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 21.69% of the company’s stock.

Safe Bulkers Trading Up 0.4%

Shares of SB stock opened at $4.81 on Wednesday. The business’s fifty day moving average price is $4.54 and its 200 day moving average price is $4.16. The firm has a market capitalization of $492.06 million, a PE ratio of 11.18 and a beta of 1.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.70 and a quick ratio of 1.70. Safe Bulkers, Inc has a 1-year low of $3.02 and a 1-year high of $5.00.

Analyst Upgrades and Downgrades

SB has been the topic of several research analyst reports. Zacks Research raised Safe Bulkers from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of Safe Bulkers in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.47.

Safe Bulkers Company 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.