Janney Montgomery Scott LLC trimmed its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 23.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,773 shares of the shipping company's stock after selling 28,719 shares during the quarter. Janney Montgomery Scott LLC owned about 0.11% of Star Bulk Carriers worth $1,372,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Star Bulk Carriers by 229.6% during the 3rd quarter. FMR LLC now owns 404,196 shares of the shipping company's stock worth $9,575,000 after buying an additional 281,552 shares during the period. Geode Capital Management LLC boosted its stake in Star Bulk Carriers by 359.3% during the 3rd quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company's stock valued at $10,833,000 after purchasing an additional 357,720 shares during the period. Barclays PLC grew its holdings in Star Bulk Carriers by 7,313.4% in the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock valued at $10,784,000 after buying an additional 449,113 shares during the last quarter. Autumn Glory Partners LLC bought a new position in Star Bulk Carriers in the 3rd quarter worth approximately $649,000. Finally, Benson Investment Management Company Inc. bought a new stake in shares of Star Bulk Carriers in the third quarter valued at approximately $5,259,000. 33.91% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. DNB Markets raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating and boosted their target price for the stock from $19.30 to $20.20 in a research report on Thursday, November 21st. Jefferies Financial Group reaffirmed a "buy" rating and set a $28.00 price objective on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. StockNews.com lowered Star Bulk Carriers from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus lowered Star Bulk Carriers from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $30.00 to $21.00 in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Star Bulk Carriers presently has an average rating of "Hold" and an average price target of $23.80.
Check Out Our Latest Stock Analysis on SBLK
Star Bulk Carriers Price Performance
Shares of SBLK traded down $0.03 during mid-day trading on Friday, reaching $15.38. The company had a trading volume of 1,355,816 shares, compared to its average volume of 1,711,108. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.69 and a quick ratio of 1.50. The company has a market capitalization of $1.29 billion, a P/E ratio of 5.20 and a beta of 0.95. Star Bulk Carriers Corp. has a twelve month low of $14.30 and a twelve month high of $27.47. The company's 50-day moving average is $15.30 and its 200-day moving average is $18.97.
Star Bulk Carriers Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $2.40 annualized dividend and a dividend yield of 15.60%. Star Bulk Carriers's dividend payout ratio is presently 81.08%.
Star Bulk Carriers 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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