Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Bought by Fmr LLC

FMR LLC boosted its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 229.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 404,196 shares of the shipping company's stock after buying an additional 281,552 shares during the period. FMR LLC owned approximately 0.48% of Star Bulk Carriers worth $9,575,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nisa Investment Advisors LLC purchased a new stake in shares of Star Bulk Carriers in the 2nd quarter worth $32,000. Blue Trust Inc. grew its position in shares of Star Bulk Carriers by 190.5% during the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company's stock worth $49,000 after buying an additional 1,328 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Star Bulk Carriers in the second quarter worth approximately $54,000. Point72 DIFC Ltd purchased a new stake in Star Bulk Carriers during the second quarter worth $72,000. Finally, AM Squared Ltd bought a new stake in Star Bulk Carriers during the 3rd quarter valued at $76,000. Hedge funds and other institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Stock Down 0.4 %

Star Bulk Carriers stock traded down $0.06 during midday trading on Thursday, reaching $15.45. The company's stock had a trading volume of 2,571,305 shares, compared to its average volume of 1,658,720. The stock's 50-day simple moving average is $19.31 and its 200-day simple moving average is $21.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.69 and a quick ratio of 1.50. Star Bulk Carriers Corp. has a 52-week low of $15.34 and a 52-week high of $27.47. The stock has a market capitalization of $1.30 billion, a P/E ratio of 5.22, a PEG ratio of 4.17 and a beta of 0.96.

Star Bulk Carriers Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 15.53%. The ex-dividend date is Thursday, December 5th. Star Bulk Carriers's payout ratio is 81.08%.

Analyst Upgrades and Downgrades

SBLK has been the subject of a number of analyst reports. Jefferies Financial Group restated a "buy" rating and set a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft started coverage on Star Bulk Carriers in a research report on Wednesday, September 4th. They set a "buy" rating and a $26.00 price objective on the stock. StockNews.com raised Star Bulk Carriers from a "hold" rating to a "buy" rating in a research report on Wednesday, December 4th. DNB Markets raised Star Bulk Carriers from a "sell" rating to a "hold" rating and raised their price objective for the company from $19.30 to $20.20 in a research report on Thursday, November 21st. Finally, Stifel Nicolaus cut Star Bulk Carriers from a "buy" rating to a "hold" rating and decreased their price target for the company from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.80.

About Star Bulk Carriers

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.