JPMorgan Chase & Co. Decreases Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

JPMorgan Chase & Co. decreased its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 91.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,228 shares of the shipping company's stock after selling 334,631 shares during the quarter. JPMorgan Chase & Co.'s holdings in Star Bulk Carriers were worth $740,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. FMR LLC lifted its position 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 valued at $9,575,000 after buying an additional 281,552 shares in the last quarter. Geode Capital Management LLC raised 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 worth $10,833,000 after acquiring an additional 357,720 shares during the period. Barclays PLC lifted its holdings in Star Bulk Carriers by 7,313.4% during the third quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock valued at $10,784,000 after purchasing an additional 449,113 shares in the last quarter. Autumn Glory Partners LLC bought a new position in shares of Star Bulk Carriers in the third quarter worth approximately $649,000. Finally, Benson Investment Management Company Inc. purchased a new stake in shares of Star Bulk Carriers in the third quarter worth $5,259,000. 33.91% of the stock is currently owned by institutional investors.

Star Bulk Carriers Price Performance

Shares of Star Bulk Carriers stock traded up $0.06 during trading on Monday, reaching $14.87. 1,286,042 shares of the stock traded hands, compared to its average volume of 1,924,234. 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 $1.25 billion, a price-to-earnings ratio of 5.02, a P/E/G ratio of 4.30 and a beta of 0.98. Star Bulk Carriers Corp. has a 52-week low of $14.30 and a 52-week high of $27.47. The business has a fifty day simple moving average of $15.92 and a two-hundred day simple moving average of $19.44.

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 dividend on an annualized basis and a yield of 16.14%. The ex-dividend date was Thursday, December 5th. Star Bulk Carriers's payout ratio is 81.08%.

Analyst Ratings Changes

SBLK has been the topic of a number of analyst reports. Jefferies Financial Group restated a "buy" rating and set a $28.00 target price on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. DNB Markets raised Star Bulk Carriers from a "sell" rating to a "hold" rating and upped their price objective for the stock from $19.30 to $20.20 in a research note on Thursday, November 21st. Stifel Nicolaus downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating and decreased their target price for the company from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.