Golden State Wealth Management LLC purchased a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,503 shares of the shipping company's stock, valued at approximately $531,000.
Several other institutional investors have also recently made changes to their positions in SBLK. FMR LLC lifted its holdings in Star Bulk Carriers by 229.6% in the 3rd quarter. FMR LLC now owns 404,196 shares of the shipping company's stock worth $9,575,000 after purchasing an additional 281,552 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Star Bulk Carriers by 359.3% in the third quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company's stock worth $10,833,000 after buying an additional 357,720 shares in the last quarter. Barclays PLC boosted its position in shares of Star Bulk Carriers by 7,313.4% during the third quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock worth $10,784,000 after acquiring an additional 449,113 shares during the last quarter. Autumn Glory Partners LLC purchased a new position in Star Bulk Carriers during the third quarter valued at $649,000. Finally, Benson Investment Management Company Inc. bought a new stake in Star Bulk Carriers in the 3rd quarter valued at $5,259,000. Institutional investors own 33.91% of the company's stock.
Star Bulk Carriers Trading Down 0.2 %
SBLK stock traded down $0.03 during mid-day trading on Tuesday, reaching $15.63. 1,436,080 shares of the stock traded hands, compared to its average volume of 1,681,993. Star Bulk Carriers Corp. has a one year low of $14.30 and a one year high of $27.47. The stock has a market capitalization of $1.31 billion, a PE ratio of 5.28 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.69. The business has a 50-day moving average price of $15.24 and a two-hundred day moving average price of $18.79.
Star Bulk Carriers Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Thursday, December 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 15.36%. The ex-dividend date of this dividend was Thursday, December 5th. Star Bulk Carriers's payout ratio is currently 81.08%.
Wall Street Analysts Forecast Growth
SBLK has been the subject of a number of research analyst reports. StockNews.com lowered Star Bulk Carriers from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. DNB Markets upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating and increased their target price for the company from $19.30 to $20.20 in a research report on Thursday, November 21st. Finally, Stifel Nicolaus lowered shares of Star Bulk Carriers from a "buy" rating to a "hold" rating and cut their target price for the company from $30.00 to $21.00 in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $23.80.
Get Our Latest Stock Analysis on Star Bulk Carriers
Star Bulk Carriers Company Profile
(
Free Report)
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.
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