Safe Bulkers (NYSE:SB) Downgraded to “Hold” at StockNews.com

Posted by on Mar 17th, 2023

Safe Bulkers (NYSE:SB – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, Jefferies Financial Group reissued a “hold” rating and issued a $3.00 target price on shares of Safe Bulkers in a report on Thursday, February 16th.

Safe Bulkers Stock Up 0.3 %

SB stock opened at $3.47 on Wednesday. The stock has a market capitalization of $422.09 million, a P/E ratio of 2.53 and a beta of 0.91. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.48. Safe Bulkers has a 12 month low of $2.35 and a 12 month high of $5.12. The firm has a 50-day moving average price of $3.33 and a 200-day moving average price of $3.01.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Financial Advocates Investment Management bought a new position in Safe Bulkers in the 4th quarter valued at approximately $29,000. State of Wyoming increased its position in Safe Bulkers by 35.4% during the 4th quarter. State of Wyoming now owns 44,370 shares of the shipping company’s stock valued at $129,000 after purchasing an additional 11,612 shares during the period. Susquehanna Fundamental Investments LLC increased its position in Safe Bulkers by 87.3% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 373,709 shares of the shipping company’s stock valued at $1,087,000 after purchasing an additional 174,229 shares during the period. Millennium Management LLC increased its position in Safe Bulkers by 2,201.5% during the 4th quarter. Millennium Management LLC now owns 945,506 shares of the shipping company’s stock valued at $2,751,000 after purchasing an additional 904,423 shares during the period. Finally, Morgan Stanley increased its position in Safe Bulkers by 113.2% during the 4th quarter. Morgan Stanley now owns 485,007 shares of the shipping company’s stock valued at $1,411,000 after purchasing an additional 257,478 shares during the period. Institutional investors own 25.95% of the company’s stock.

Safe Bulkers Company Profile

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Safe Bulkers, Inc provides international marine drybulk transportation services. The firm offers transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. The company was founded on December 11, 2007 and is headquartered in Les Acanthes, Monaco.

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