Mraz Amerine & Associates Inc. acquired a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 75,095 shares of the shipping company's stock, valued at approximately $1,779,000. Mraz Amerine & Associates Inc. owned approximately 0.09% of Star Bulk Carriers at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Encompass Capital Advisors LLC lifted its holdings in Star Bulk Carriers by 27.5% in the 2nd quarter. Encompass Capital Advisors LLC now owns 2,052,262 shares of the shipping company's stock worth $50,034,000 after purchasing an additional 442,860 shares in the last quarter. Marshall Wace LLP increased its holdings in Star Bulk Carriers by 101.8% during the 2nd quarter. Marshall Wace LLP now owns 1,791,426 shares of the shipping company's stock worth $43,675,000 after purchasing an additional 903,542 shares during the period. Renaissance Technologies LLC raised its position in Star Bulk Carriers by 25.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,746,070 shares of the shipping company's stock valued at $42,569,000 after purchasing an additional 358,870 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Star Bulk Carriers by 335.4% in the 2nd quarter. Millennium Management LLC now owns 1,221,255 shares of the shipping company's stock worth $29,774,000 after buying an additional 940,745 shares during the period. Finally, Artemis Investment Management LLP grew its position in shares of Star Bulk Carriers by 29.4% during the 2nd quarter. Artemis Investment Management LLP now owns 1,025,802 shares of the shipping company's stock worth $25,009,000 after buying an additional 233,000 shares in the last quarter. 33.91% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on SBLK shares. Deutsche Bank Aktiengesellschaft assumed coverage on Star Bulk Carriers in a report on Wednesday, September 4th. They issued a "buy" rating and a $26.00 price objective for the company. DNB Markets lowered Star Bulk Carriers from a "hold" rating to a "sell" rating in a report on Friday, October 11th. Finally, Stifel Nicolaus cut Star Bulk Carriers from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $30.00 to $21.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $25.67.
Get Our Latest Research Report on SBLK
Star Bulk Carriers Stock Performance
Shares of NASDAQ SBLK traded up $0.11 during midday trading on Friday, reaching $19.35. The company had a trading volume of 911,717 shares, compared to its average volume of 1,595,602. Star Bulk Carriers Corp. has a 1 year low of $17.91 and a 1 year high of $27.47. The business's 50-day simple moving average is $21.25 and its 200 day simple moving average is $23.20. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.63 billion, a P/E ratio of 7.11 and a beta of 0.98.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). The firm had revenue of $352.88 million during the quarter, compared to analysts' expectations of $329.38 million. Star Bulk Carriers had a return on equity of 13.58% and a net margin of 24.05%. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, analysts forecast that Star Bulk Carriers Corp. will post 3.47 earnings per share for the current fiscal year.
Star Bulk Carriers Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 27th were issued a $0.70 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $2.80 annualized dividend and a dividend yield of 14.47%. Star Bulk Carriers's dividend payout ratio (DPR) is presently 102.94%.
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.
Recommended Stories
Before you consider Star Bulk Carriers, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Star Bulk Carriers wasn't on the list.
While Star Bulk Carriers currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
