Raymond James Financial Inc. bought a new stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 64,871 shares of the shipping company's stock, valued at approximately $970,000. Raymond James Financial Inc. owned approximately 0.08% of Star Bulk Carriers at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Star Bulk Carriers during the 3rd quarter valued at approximately $17,137,000. Barclays PLC increased its stake in shares of Star Bulk Carriers by 7,313.4% in the third quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock worth $10,784,000 after buying an additional 449,113 shares during the last quarter. Stifel Financial Corp boosted its stake in Star Bulk Carriers by 152.2% during the 3rd quarter. Stifel Financial Corp now owns 685,053 shares of the shipping company's stock valued at $16,229,000 after acquiring an additional 413,423 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Star Bulk Carriers by 359.3% in the 3rd quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company's stock worth $10,833,000 after purchasing an additional 357,720 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Star Bulk Carriers by 229.6% during the third quarter. FMR LLC now owns 404,196 shares of the shipping company's stock worth $9,575,000 after purchasing an additional 281,552 shares during the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.
Star Bulk Carriers Stock Performance
SBLK stock traded up $0.87 during mid-day trading on Wednesday, reaching $13.53. The company had a trading volume of 2,690,266 shares, compared to its average volume of 1,877,160. The stock's 50-day simple moving average is $15.54 and its two-hundred day simple moving average is $17.08. The stock has a market capitalization of $1.59 billion, a P/E ratio of 4.71 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. Star Bulk Carriers Corp. has a one year low of $12.07 and a one year high of $27.47.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $308.92 million for the quarter, compared to analyst estimates of $230.91 million. Research analysts anticipate that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.
Star Bulk Carriers Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.66%. The ex-dividend date was Tuesday, March 4th. Star Bulk Carriers's dividend payout ratio is currently 12.54%.
Analyst Upgrades and Downgrades
A number of research firms have commented on SBLK. Jefferies Financial Group reduced their target price on 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 shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $22.05.
View Our Latest Stock Analysis on Star Bulk Carriers
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.
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