Ritholtz Wealth Management cut its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 61.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,594 shares of the shipping company's stock after selling 20,036 shares during the quarter. Ritholtz Wealth Management's holdings in Star Bulk Carriers were worth $188,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new position in shares of Star Bulk Carriers during the second quarter valued at about $9,810,000. Vanguard Personalized Indexing Management LLC purchased a new position in Star Bulk Carriers during the 2nd quarter valued at about $539,000. XTX Topco Ltd bought a new position in shares of Star Bulk Carriers during the second quarter valued at approximately $246,000. Bank of Montreal Can purchased a new stake in Star Bulk Carriers in the second quarter worth $1,060,000. Finally, Marshall Wace LLP boosted its stake in shares of 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 valued at $43,675,000 after purchasing an additional 903,542 shares in the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.
Star Bulk Carriers Stock Performance
Shares of SBLK traded up $0.49 during mid-day trading on Thursday, hitting $14.84. 1,828,763 shares of the company traded hands, compared to its average volume of 2,001,640. Star Bulk Carriers Corp. has a 1 year low of $14.30 and a 1 year high of $27.47. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.69. The stock has a 50-day moving average price of $16.13 and a two-hundred day moving average price of $19.60. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 5.01, a P/E/G ratio of 4.40 and a beta of 0.98.
Star Bulk Carriers Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Thursday, December 5th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 16.17%. The ex-dividend date of this dividend was Thursday, December 5th. Star Bulk Carriers's dividend payout ratio (DPR) is presently 81.08%.
Analyst Upgrades and Downgrades
SBLK has been the subject of several research reports. Stifel Nicolaus lowered 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. DNB Markets upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating and boosted their target price for the company from $19.30 to $20.20 in a report on Thursday, November 21st. Jefferies Financial Group reissued a "buy" rating and set a $28.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Finally, StockNews.com raised shares of Star Bulk Carriers from a "hold" rating to a "buy" rating in a research note on Friday, December 20th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Star Bulk Carriers has a consensus rating of "Moderate Buy" and an average price target of $23.80.
Get Our Latest Stock Analysis on SBLK
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.
Featured 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 "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
