Barclays PLC increased its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 7,313.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 455,254 shares of the shipping company's stock after purchasing an additional 449,113 shares during the period. Barclays PLC owned 0.54% of Star Bulk Carriers worth $10,784,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates increased its position in Star Bulk Carriers by 40.2% during the 2nd quarter. Raymond James & Associates now owns 55,881 shares of the shipping company's stock worth $1,362,000 after buying an additional 16,022 shares during the period. Nisa Investment Advisors LLC bought a new stake in shares of Star Bulk Carriers in the second quarter valued at approximately $32,000. Dakota Wealth Management boosted its stake in shares of Star Bulk Carriers by 159.3% in the second quarter. Dakota Wealth Management now owns 80,154 shares of the shipping company's stock valued at $1,954,000 after buying an additional 49,244 shares during the period. Institute for Wealth Management LLC. grew its position in Star Bulk Carriers by 22.9% during the second quarter. Institute for Wealth Management LLC. now owns 16,822 shares of the shipping company's stock worth $410,000 after buying an additional 3,132 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Star Bulk Carriers in the 2nd quarter valued at $23,212,000. Institutional investors and hedge funds own 33.91% of the company's stock.
Star Bulk Carriers Stock Performance
Shares of SBLK traded down $0.06 on Tuesday, reaching $14.94. 2,207,217 shares of the company's stock traded hands, compared to its average volume of 1,672,349. The stock's 50 day simple moving average is $18.72 and its two-hundred day simple moving average is $21.38. The company has a current ratio of 1.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. Star Bulk Carriers Corp. has a 52-week low of $14.59 and a 52-week high of $27.47. The stock has a market cap of $1.26 billion, a PE ratio of 5.05, a PEG ratio of 3.95 and a beta of 0.96.
Star Bulk Carriers Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.40 annualized dividend and a dividend yield of 16.06%. Star Bulk Carriers's payout ratio is currently 81.08%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on SBLK. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Star Bulk Carriers in a research report on Wednesday, September 4th. They set a "buy" rating and a $26.00 price objective for the company. StockNews.com downgraded shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Jefferies Financial Group restated a "buy" rating and set a $28.00 price objective on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Stifel Nicolaus downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating and reduced their target price for the company from $30.00 to $21.00 in a report on Wednesday, October 23rd. Finally, DNB Markets upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating and lifted their price target for the company from $19.30 to $20.20 in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $23.80.
Read Our Latest Report on SBLK
Star Bulk Carriers Company 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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