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

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

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

Safe Bulkers Stock Down 2.3 %

Shares of NYSE:SB traded down $0.10 during trading on Tuesday, reaching $3.99. The stock had a trading volume of 577,901 shares, compared to its average volume of 665,597. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $425.52 million, a P/E ratio of 4.43 and a beta of 0.95. The firm’s 50-day simple moving average is $4.55 and its 200 day simple moving average is $5.09. Safe Bulkers has a one year low of $3.45 and a one year high of $6.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SB. Russell Investments Group Ltd. raised its holdings in shares of Safe Bulkers by 3,273.7% during the first quarter. Russell Investments Group Ltd. now owns 165,345 shares of the shipping company’s stock worth $821,000 after purchasing an additional 160,444 shares during the last quarter. Denali Advisors LLC grew its holdings in Safe Bulkers by 316.6% during the second quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock worth $2,435,000 after acquiring an additional 317,900 shares during the period. Banque Cantonale Vaudoise grew its holdings 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 period. Segall Bryant & Hamill LLC acquired a new position in Safe Bulkers in the third quarter valued at approximately $1,480,000. Finally, Acadian Asset Management LLC lifted its holdings 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 valued at $13,251,000 after acquiring an additional 380,270 shares during the period. 21.69% of the stock is currently 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.