27,400 Shares in Star Bulk Carriers Corp. (NASDAQ:SBLK) Purchased by Autumn Glory Partners LLC

Autumn Glory Partners LLC acquired a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 27,400 shares of the shipping company's stock, valued at approximately $649,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SBLK. Nisa Investment Advisors LLC acquired a new stake in Star Bulk Carriers in the 2nd quarter worth approximately $32,000. FinTrust Capital Advisors LLC grew its holdings in shares of Star Bulk Carriers by 100.0% during the first quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company's stock valued at $48,000 after buying an additional 1,000 shares during the last quarter. Blue Trust Inc. raised its stake in Star Bulk Carriers by 190.5% in the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company's stock worth $49,000 after acquiring an additional 1,328 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Star Bulk Carriers during the 2nd quarter worth about $54,000. Finally, Point72 DIFC Ltd purchased a new stake in Star Bulk Carriers during the 2nd quarter valued at about $72,000. Hedge funds and other institutional investors own 33.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SBLK. Stifel Nicolaus downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating and decreased their target price for the stock from $30.00 to $21.00 in a report on Wednesday, October 23rd. DNB Markets cut shares of Star Bulk Carriers from a "hold" rating to a "sell" rating in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Star Bulk Carriers in a research note on Wednesday, September 4th. They issued a "buy" rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $25.67.

Star Bulk Carriers Stock Performance

SBLK stock traded up $0.34 during trading on Tuesday, hitting $19.37. 1,807,077 shares of the company traded hands, compared to its average volume of 1,597,369. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. Star Bulk Carriers Corp. has a 1 year low of $17.91 and a 1 year high of $27.47. The stock's 50-day simple moving average is $21.20 and its 200 day simple moving average is $23.16. The company has a market cap of $1.63 billion, a PE ratio of 7.00 and a beta of 0.98.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.01). Star Bulk Carriers had a return on equity of 13.58% and a net margin of 24.05%. The firm had revenue of $352.88 million for the quarter, compared to analysts' expectations of $329.38 million. During the same period last year, the company posted $0.47 earnings per share. On average, equities analysts expect that Star Bulk Carriers Corp. will post 2.98 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, August 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 14.46%. Star Bulk Carriers's dividend payout ratio (DPR) is 102.94%.

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.