Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 32.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 163,103 shares of the shipping company's stock after selling 79,783 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.19% of Star Bulk Carriers worth $3,864,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Autumn Glory Partners LLC acquired a new position in Star Bulk Carriers in the third quarter valued at $649,000. Benson Investment Management Company Inc. acquired a new position in Star Bulk Carriers in the third quarter valued at $5,259,000. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group boosted its holdings in shares of Star Bulk Carriers by 34.1% in the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 295,000 shares of the shipping company's stock valued at $7,192,000 after acquiring an additional 75,000 shares in the last quarter. Navellier & Associates Inc. purchased a new stake in shares of Star Bulk Carriers in the third quarter valued at about $892,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Star Bulk Carriers in the second quarter valued at about $539,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Price Performance

SBLK traded down $0.30 on Friday, hitting $15.15. 2,460,212 shares of the company were exchanged, compared to its average volume of 2,460,606. 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's fifty day moving average is $19.01 and its 200 day moving average is $21.55. Star Bulk Carriers Corp. has a fifty-two week low of $15.06 and a fifty-two week high of $27.47. The firm has a market capitalization of $1.27 billion, a P/E ratio of 5.12, a price-to-earnings-growth ratio of 3.95 and a beta of 0.96.

Star Bulk Carriers Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.40 annualized dividend and a yield of 15.84%. Star Bulk Carriers's payout ratio is currently 81.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SBLK. Jefferies Financial Group reaffirmed a "buy" rating and issued a $28.00 target price on shares of Star Bulk Carriers in a report on Wednesday, November 20th. StockNews.com downgraded shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday. DNB Markets raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating and lifted their target price for the company from $19.30 to $20.20 in a report on Thursday, November 21st. Stifel Nicolaus downgraded shares of Star Bulk Carriers from a "buy" rating to a "hold" rating and lowered their target price for the company from $30.00 to $21.00 in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Star Bulk Carriers in a report on Wednesday, September 4th. They issued a "buy" rating and a $26.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $23.80.

Star Bulk Carriers Profile

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.