Savvy Advisors Inc. Invests $87,000 in Safe Bulkers, Inc $SB

Savvy Advisors Inc. purchased a new position in shares of Safe Bulkers, Inc (NYSE:SB) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 24,200 shares of the shipping company’s stock, valued at approximately $87,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SB. Bank of New York Mellon Corp grew its stake 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 period. Mraz Amerine & Associates Inc. grew its stake in shares of Safe Bulkers by 23.6% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 16,500 shares of the shipping company’s stock worth $62,000 after purchasing an additional 3,155 shares during the period. Ballentine Partners LLC grew its stake in Safe Bulkers by 24.7% in the 1st quarter. Ballentine Partners LLC now owns 31,118 shares of the shipping company’s stock valued at $115,000 after acquiring an additional 6,171 shares during the last quarter. New York State Common Retirement Fund grew its stake in Safe Bulkers by 14.0% in the 1st 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 during the last quarter. Finally, Denali Advisors LLC grew its stake in Safe Bulkers by 25.8% in the 1st quarter. Denali Advisors LLC now owns 870,415 shares of the shipping company’s stock valued at $3,212,000 after acquiring an additional 178,646 shares during the last quarter. 21.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SB shares. Weiss Ratings reissued a “hold (c)” rating on shares of Safe Bulkers in a research note on Wednesday, October 8th. Zacks Research raised shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.47.

Safe Bulkers Price Performance

Safe Bulkers stock opened at $4.62 on Tuesday. Safe Bulkers, Inc has a 12-month low of $3.02 and a 12-month high of $4.72. The stock has a market capitalization of $472.21 million, a P/E ratio of 10.73 and a beta of 1.28. The firm’s 50-day moving average is $4.44 and its two-hundred day moving average is $4.05. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.70 and a quick ratio of 1.70.

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.