Prevail Innovative Wealth Advisors LLC Invests $2.74 Million in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Prevail Innovative Wealth Advisors LLC bought a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 183,460 shares of the shipping company's stock, valued at approximately $2,743,000. Prevail Innovative Wealth Advisors LLC owned 0.22% of Star Bulk Carriers as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBLK. Amundi raised its position in Star Bulk Carriers by 48.9% in the fourth quarter. Amundi now owns 1,174,566 shares of the shipping company's stock valued at $17,454,000 after purchasing an additional 385,980 shares during the period. Philosophy Capital Management LLC purchased a new position in Star Bulk Carriers in the 3rd quarter worth approximately $24,842,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Star Bulk Carriers in the third quarter valued at approximately $17,137,000. Stifel Financial Corp lifted its position in shares of Star Bulk Carriers by 152.2% during the third quarter. Stifel Financial Corp now owns 685,053 shares of the shipping company's stock worth $16,229,000 after purchasing an additional 413,423 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Star Bulk Carriers by 359.3% in the third 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. Institutional investors and hedge funds own 33.91% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group cut their price objective on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. StockNews.com downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Star Bulk Carriers presently has an average rating of "Hold" and an average price target of $22.05.

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Star Bulk Carriers Stock Down 2.6 %

Star Bulk Carriers stock traded down $0.42 during midday trading on Monday, hitting $15.56. The stock had a trading volume of 1,185,322 shares, compared to its average volume of 1,856,939. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average price of $15.73 and a 200 day moving average price of $17.49. Star Bulk Carriers Corp. has a 12 month low of $14.30 and a 12 month high of $27.47. The stock has a market cap of $1.31 billion, a P/E ratio of 5.42 and a beta of 1.03.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.08). Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The business had revenue of $308.92 million for the quarter, compared to the consensus estimate of $230.91 million. Research analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a yield of 2.31%. Star Bulk Carriers's payout ratio is currently 12.54%.

Star Bulk Carriers Company 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.