Fintel reports that on February 26, 2024, Alliance Global Partners downgraded their outlook for Eagle Bulk Shipping (NYSE:EGLE) from Buy to Neutral .
Analyst Price Forecast Suggests 4.98% Downside
As of February 24, 2024, the average one-year price target for Eagle Bulk Shipping is 56.52. The forecasts range from a low of 52.52 to a high of $63.00. The average price target represents a decrease of 4.98% from its latest reported closing price of 59.48.
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The projected annual revenue for Eagle Bulk Shipping is 427MM, a decrease of 3.08%. The projected annual non-GAAP EPS is 7.66.
What is the Fund Sentiment?
There are 307 funds or institutions reporting positions in Eagle Bulk Shipping. This is a decrease of 3 owner(s) or 0.97% in the last quarter. Average portfolio weight of all funds dedicated to EGLE is 0.07%, an increase of 7.78%. Total shares owned by institutions increased in the last three months by 1.16% to 6,049K shares. 
The put/call ratio of EGLE is 1.43, indicating a bearish outlook.
What are Other Shareholders Doing?
Gratus Capital holds 240K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 242K shares, representing a decrease of 0.76%. The firm decreased its portfolio allocation in EGLE by 45.65% over the last quarter.
IWM - iShares Russell 2000 ETF holds 216K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 315K shares, representing a decrease of 45.64%. The firm decreased its portfolio allocation in EGLE by 37.15% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 189K shares representing 1.90% ownership of the company. In it's prior filing, the firm reported owning 302K shares, representing a decrease of 60.14%. The firm decreased its portfolio allocation in EGLE by 43.29% over the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 175K shares representing 1.76% ownership of the company. In it's prior filing, the firm reported owning 194K shares, representing a decrease of 10.60%. The firm decreased its portfolio allocation in EGLE by 9.39% over the last quarter.
Geode Capital Management holds 173K shares representing 1.74% ownership of the company. In it's prior filing, the firm reported owning 169K shares, representing an increase of 1.90%. The firm increased its portfolio allocation in EGLE by 18.02% over the last quarter.
Eagle Bulk Shipping Background Information
(This description is provided by the company.)
Eagle Bulk Shipping Inc. is a U.S. based fully integrated shipowner-operator providing global transportation solutions to a diverse group of customers including miners, producers, traders, and end users. Headquartered in Stamford, Connecticut, with offices in Singapore and Copenhagen, Eagle focuses exclusively on the versatile mid-size drybulk vessel segment and owns one of the largest fleets of Supramax/Ultramax vessels in the world. The Company performs all management services in-house (including: strategic, commercial, operational, technical, and administrative) and employs an active management approach to fleet trading with the objective of optimizing revenue performance and maximizing earnings on a risk-managed basis.
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