Globus Maritime (NASDAQ:GLBS) Director Acquires 106,400 Shares

Key Points

• Director Georgios Feidakis bought 106,400 Globus Maritime shares at $2.70 each on June 18, worth about $287,280, increasing his direct stake by 1.67% to 6.46 million shares. He also bought another 114,766 shares on July 13 at $2.75 each.
• Globus Maritime reported better-than-expected quarterly results, posting earnings of $0.05 per share versus an expected loss of $0.05 and revenue of $12.25 million, above the $10.40 million consensus estimate.
• Analysts have turned more positive on the stock, with Maxim Group raising its price target to $5.00 and assigning a buy rating. The stock currently has a consensus Moderate Buy rating and a target price of $5.00.

Globus Maritime Limited (NASDAQ:GLBS - Get Free Report) Director Georgios Feidakis bought 106,400 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was purchased at an average cost of $2.70 per share, with a total value of $287,280.00. Following the completion of the acquisition, the director directly owned 6,463,867 shares of the company's stock, valued at approximately $17,452,440.90. The trade was a 1.67% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Georgios Feidakis also recently made the following trade(s):

• On Monday, July 13th, Georgios Feidakis bought 114,766 shares of Globus Maritime stock. The stock was purchased at an average price of $2.75 per share, for a total transaction of $315,606.50.

Globus Maritime Stock Down 1.4%

Shares of NASDAQ:GLBS traded down $0.04 during trading on Tuesday, reaching $2.73. 43,306 shares of the stock traded hands, compared to its average volume of 108,113. The stock has a 50-day moving average of $2.43 and a two-hundred day moving average of $2.06. Globus Maritime Limited has a 52-week low of $1.00 and a 52-week high of $3.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.45 and a current ratio of 2.65. The stock has a market cap of $58.91 million, a P/E ratio of 54.61 and a beta of 0.26.

Globus Maritime (NASDAQ:GLBS - Get Free Report) last announced its quarterly earnings results on Thursday, June 11th. The shipping company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.10. Globus Maritime had a net margin of 1.72% and a return on equity of 0.47%. The company had revenue of $12.25 million during the quarter, compared to the consensus estimate of $10.40 million.

Analysts Set New Price Targets

Several research firms have recently weighed in on GLBS. Weiss Ratings upgraded Globus Maritime from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, June 12th. Maxim Group increased their price objective on Globus Maritime from $3.00 to $5.00 and gave the company a "buy" rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Globus Maritime has an average rating of "Moderate Buy" and a consensus target price of $5.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC bought a new position in Globus Maritime during the first quarter valued at approximately $37,000. Renaissance Technologies LLC grew its position in Globus Maritime by 96.8% in the 1st quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company's stock worth $331,000 after purchasing an additional 70,400 shares during the period. XTX Topco Ltd raised its stake in Globus Maritime by 64.6% during the 4th quarter. XTX Topco Ltd now owns 21,209 shares of the shipping company's stock valued at $37,000 after buying an additional 8,327 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Globus Maritime during the 4th quarter valued at $58,000. 31.60% of the stock is owned by hedge funds and other institutional investors.

About Globus Maritime

Globus Maritime Ltd. is a dry bulk shipping company incorporated in the Republic of the Marshall Islands in 2007 and headquartered in Athens, Greece. The firm owns and operates a fleet of Capesize dry bulk carriers, each with a carrying capacity of approximately 170,000 to 180,000 deadweight tons (dwt). These vessels transport key commodities such as iron ore, coal and grains under time and voyage charter agreements.

After completing its initial public offering on the NASDAQ in 2014, Globus Maritime has pursued strategic fleet growth through acquisitions of modern secondhand vessels.

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