Safe Bulkers (SB) : Tiger Veda Management reduced its stake in Safe Bulkers by 38.14% during the most recent quarter end. The investment management company now holds a total of 1,418,100 shares of Safe Bulkers which is valued at $1,687,539 after selling 874,374 shares in Safe Bulkers , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Safe Bulkers makes up approximately 41.45% of Tiger Veda Management’s portfolio.
Safe Bulkers opened for trading at $1.21 and hit $1.21 on the upside on Friday, eventually ending the session at $1.19, with a gain of 0.85% or 0.01 points. The heightened volatility saw the trading volume jump to 2,02,169 shares. Company has a market cap of $99 M.
Other Hedge Funds, Including , Simplex Trading reduced its stake in SB by selling 6,000 shares or 31.6% in the most recent quarter. The Hedge Fund company now holds 12,990 shares of SB which is valued at $14,419.
On the company’s financial health, Safe Bulkers reported $-0.13 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 10, 2016. Analyst had a consensus of $-0.11. The company had revenue of $29.90 million for the quarter, compared to analysts expectations of $34.34 million. The company’s revenue was down -23.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.01 EPS.
Safe Bulkers Inc. (Safe Bulkers) is a holding company. The Company’s principal business is the acquisition ownership and operation of drybulk vessels. The Company is an international provider of marine drybulk transportation services transporting bulk cargoes particularly coal grain and iron ore along worldwide shipping routes. The Company’s fleet comprises 33 vessels of which 12 are Panamax class vessels seven are Kamsarmax class vessels 11 are Post-Panamax class vessels and three are Capesize class vessels with an aggregate carrying capacity of 3019700 deadweight tons (dwt) and an average age of 5.8 years. The Company deploys its vessels on a mix of period time and spot time charters. The Company has 45 wholly owned subsidiaries 24 of which are incorporated in Liberia and 21 in the Republic of the Marshall Islands.