Concurrent Investment Advisors LLC Boosts Stake in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Concurrent Investment Advisors LLC boosted its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 263.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,876 shares of the shipping company's stock after buying an additional 55,013 shares during the quarter. Concurrent Investment Advisors LLC owned approximately 0.09% of Star Bulk Carriers worth $1,797,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its position in Star Bulk Carriers by 2.8% in the third quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company's stock worth $773,000 after buying an additional 890 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in Star Bulk Carriers by 8.5% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 16,640 shares of the shipping company's stock valued at $406,000 after acquiring an additional 1,310 shares during the period. Nisa Investment Advisors LLC purchased a new stake in Star Bulk Carriers during the second quarter valued at about $32,000. Blue Trust Inc. boosted its position 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 purchasing an additional 1,328 shares during the period. Finally, Astoria Portfolio Advisors LLC. increased its stake in shares of Star Bulk Carriers by 6.6% in the second quarter. Astoria Portfolio Advisors LLC. now owns 25,988 shares of the shipping company's stock worth $634,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors own 33.91% of the company's stock.

Analyst Upgrades and Downgrades

SBLK has been the subject of several analyst reports. DNB Markets downgraded shares of Star Bulk Carriers from a "hold" rating to a "sell" rating in a report on Friday, October 11th. Stifel Nicolaus lowered Star Bulk Carriers from a "buy" rating to a "hold" rating and cut their price target for the stock from $30.00 to $21.00 in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Star Bulk Carriers in a research note on Wednesday, September 4th. They set a "buy" rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $25.67.

Star Bulk Carriers Price Performance

Star Bulk Carriers stock traded down $0.08 during midday trading on Friday, reaching $20.10. 1,320,348 shares of the stock were exchanged, compared to its average volume of 1,585,430. The company's fifty day moving average is $20.88 and its 200-day moving average is $22.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.34 and a current ratio of 1.51. Star Bulk Carriers Corp. has a 52 week low of $17.92 and a 52 week high of $27.47. The firm has a market cap of $1.69 billion, a PE ratio of 7.39 and a beta of 1.00.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.01). Star Bulk Carriers had a return on equity of 13.58% and a net margin of 24.05%. The business had revenue of $352.88 million during the quarter, compared to analysts' expectations of $329.38 million. During the same quarter last year, the business posted $0.47 EPS. On average, sell-side analysts forecast that Star Bulk Carriers Corp. will post 2.98 EPS for the current year.

About Star Bulk Carriers

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.