Los Angeles Capital Management LLC Buys Shares of 19,255 Safe Bulkers, Inc $SB

Los Angeles Capital Management LLC acquired a new stake in shares of Safe Bulkers, Inc (NYSE:SB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,255 shares of the shipping company’s stock, valued at approximately $70,000.

Several other institutional investors and hedge funds have also modified their holdings of SB. Savvy Advisors Inc. bought a new position in Safe Bulkers in the 2nd quarter worth approximately $87,000. Denali Advisors LLC lifted its holdings in shares of Safe Bulkers by 6.9% in the 2nd quarter. Denali Advisors LLC now owns 930,081 shares of the shipping company’s stock worth $3,358,000 after acquiring an additional 59,666 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Safe Bulkers during the second quarter valued at approximately $381,000. Regatta Capital Group LLC purchased a new stake in Safe Bulkers in the second quarter worth $36,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Safe Bulkers by 6.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company’s stock worth $6,017,000 after acquiring an additional 91,662 shares during the period. 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. Safe Bulkers, Inc has a 1-year low of $3.02 and a 1-year high of $5.00. The company has a market cap of $492.06 million, a price-to-earnings 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. The stock has a 50 day simple moving average of $4.54 and a 200-day simple moving average of $4.16.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Zacks Research upgraded shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a 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’s stock. Based on data from MarketBeat.com, Safe Bulkers has a consensus rating of “Moderate Buy” and a consensus price target of $4.47.

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.