Sowell Financial Services LLC acquired a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 60,443 shares of the shipping company's stock, valued at approximately $904,000. Sowell Financial Services LLC owned about 0.07% of Star Bulk Carriers at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Quarry LP lifted its position in shares of Star Bulk Carriers by 39.8% during the third quarter. Quarry LP now owns 2,365 shares of the shipping company's stock worth $56,000 after acquiring an additional 673 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Star Bulk Carriers by 51.3% during the fourth quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock worth $46,000 after acquiring an additional 1,038 shares in the last quarter. Sigma Planning Corp lifted its position in shares of Star Bulk Carriers by 4.9% during the fourth quarter. Sigma Planning Corp now owns 22,482 shares of the shipping company's stock worth $336,000 after acquiring an additional 1,060 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Star Bulk Carriers by 8.3% during the fourth quarter. DAVENPORT & Co LLC now owns 14,129 shares of the shipping company's stock worth $211,000 after acquiring an additional 1,083 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of Star Bulk Carriers by 26.4% during the third quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company's stock worth $157,000 after acquiring an additional 1,385 shares in the last quarter. Hedge funds and other institutional investors own 33.91% of the company's stock.
Star Bulk Carriers Price Performance
SBLK traded up $0.04 during trading on Tuesday, reaching $15.79. The stock had a trading volume of 2,704,915 shares, compared to its average volume of 1,803,926. The stock has a market cap of $1.33 billion, a PE ratio of 5.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. Star Bulk Carriers Corp. has a one year low of $14.30 and a one year high of $27.47. The business has a 50-day moving average of $15.32 and a 200-day moving average of $17.96.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its earnings results on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.08). The firm had revenue of $308.92 million during the quarter, compared to the consensus estimate of $230.91 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. As a group, equities research analysts anticipate that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.
Star Bulk Carriers Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.28%. Star Bulk Carriers's dividend payout ratio (DPR) is currently 12.54%.
Wall Street Analyst Weigh In
Several research firms have issued reports on SBLK. DNB Markets upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating and increased their target price for the stock from $19.30 to $20.20 in a research report on Thursday, November 21st. StockNews.com cut shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group decreased their price target on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. 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, Star Bulk Carriers presently has an average rating of "Hold" and a consensus target price of $22.05.
Get Our Latest Stock Report on Star Bulk Carriers
Star Bulk Carriers Company Profile
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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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