Insider Buying: Globus Maritime (NASDAQ:GLBS) Director Purchases 114,766 Shares

Key Points

• Director Georgios Feidakis bought 114,766 shares of Globus Maritime at an average price of $2.75, totaling about $315,606.50. The purchase increased his direct stake by 1.78% to 6,578,633 shares.
• This was not his first recent buy: Feidakis also purchased 106,400 shares on June 18 at an average price of $2.70, showing continued insider accumulation.
• Globus Maritime recently beat earnings expectations, reporting $0.05 EPS versus an expected loss and revenue of $12.25 million versus estimates of $10.40 million. Analysts currently rate the stock a Moderate Buy with an average price target of $5.00.

Globus Maritime Limited (NASDAQ:GLBS - Get Free Report) Director Georgios Feidakis bought 114,766 shares of the business's stock in a transaction dated Monday, July 13th. The stock was purchased at an average price of $2.75 per share, with a total value of $315,606.50. Following the purchase, the director directly owned 6,578,633 shares of the company's stock, valued at $18,091,240.75. The trade was a 1.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, June 18th, Georgios Feidakis bought 106,400 shares of Globus Maritime stock. The stock was acquired at an average cost of $2.70 per share, for a total transaction of $287,280.00.

Globus Maritime Price Performance

NASDAQ GLBS traded down $0.04 during trading hours on Tuesday, reaching $2.73. 43,306 shares of the company's stock were exchanged, compared to its average volume of 108,113. The firm has a fifty day moving average of $2.43 and a 200-day moving average of $2.06. Globus Maritime Limited has a one year low of $1.00 and a one year high of $3.24. The stock has a market cap of $58.91 million, a PE ratio of 54.61 and a beta of 0.26. The company has a current ratio of 2.65, a quick ratio of 2.45 and a debt-to-equity ratio of 0.56.

Globus Maritime (NASDAQ:GLBS - Get Free Report) last posted its quarterly earnings data on Thursday, June 11th. The shipping company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.10. The company had revenue of $12.25 million for the quarter, compared to analyst estimates of $10.40 million. Globus Maritime had a return on equity of 0.47% and a net margin of 1.72%.

Institutional Investors Weigh In On Globus Maritime

A number of institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new position in shares of Globus Maritime during the first quarter valued at $37,000. Renaissance Technologies LLC raised its stake in shares of Globus Maritime by 96.8% during the first quarter. Renaissance Technologies LLC now owns 143,100 shares of the shipping company's stock worth $331,000 after buying an additional 70,400 shares during the last quarter. XTX Topco Ltd lifted its holdings in Globus Maritime by 64.6% in the fourth 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 period. Finally, Jane Street Group LLC bought a new position in Globus Maritime in the fourth quarter valued at approximately $58,000. Institutional investors own 31.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on GLBS shares. Weiss Ratings raised shares of Globus Maritime from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, June 12th. Maxim Group boosted their target price on shares of Globus Maritime from $3.00 to $5.00 and gave the stock a "buy" rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Globus Maritime currently has an average rating of "Moderate Buy" and an average price target of $5.00.

Globus Maritime Company Profile

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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