Navellier & Associates Inc. purchased a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,658 shares of the shipping company's stock, valued at approximately $892,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its stake in Star Bulk Carriers by 2.8% during the third quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company's stock worth $773,000 after acquiring an additional 890 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its stake in Star Bulk Carriers by 8.5% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 16,640 shares of the shipping company's stock worth $406,000 after acquiring an additional 1,310 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Star Bulk Carriers during the second quarter worth about $32,000. Blue Trust Inc. increased its stake in Star Bulk Carriers by 190.5% during the third 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. Finally, Avior Wealth Management LLC increased its stake in Star Bulk Carriers by 26.4% during the third quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company's stock worth $157,000 after acquiring an additional 1,385 shares during the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SBLK has been the subject of several analyst reports. 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 research report on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $28.00 target price on shares of Star Bulk Carriers in a research report on Wednesday. StockNews.com raised Star Bulk Carriers from a "hold" rating to a "buy" rating in a research report on Wednesday. DNB Markets raised Star Bulk Carriers from a "sell" rating to a "hold" rating and upped their target price for the stock from $19.30 to $20.20 in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Star Bulk Carriers in a research report on Wednesday, September 4th. They issued a "buy" rating and a $26.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Star Bulk Carriers presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.80.
Get Our Latest Report on Star Bulk Carriers
Star Bulk Carriers Stock Down 0.4 %
SBLK traded down $0.08 on Friday, reaching $18.63. The company's stock had a trading volume of 1,899,642 shares, compared to its average volume of 1,603,624. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 6.33 and a beta of 1.00. Star Bulk Carriers Corp. has a 1 year low of $18.52 and a 1 year high of $27.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. The business's 50 day moving average is $20.77 and its 200 day moving average is $22.64.
Star Bulk Carriers Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Thursday, December 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 12.88%. The ex-dividend date is Thursday, December 5th. Star Bulk Carriers's dividend payout ratio is currently 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.
Further Reading
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 "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
