Gilman Hill Asset Management LLC Decreases Stake in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Gilman Hill Asset Management LLC cut its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 319,098 shares of the shipping company's stock after selling 88,607 shares during the period. Gilman Hill Asset Management LLC owned approximately 0.38% of Star Bulk Carriers worth $4,771,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SBLK. Blue Trust Inc. increased its stake in shares of 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 acquiring an additional 1,328 shares during the period. Quarry LP increased its position in Star Bulk Carriers by 39.8% during the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company's stock worth $56,000 after purchasing an additional 673 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Star Bulk Carriers during the 3rd quarter worth approximately $57,000. Point72 DIFC Ltd purchased a new position in shares of Star Bulk Carriers during the 2nd quarter worth approximately $72,000. Finally, AM Squared Ltd acquired a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at approximately $76,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Star Bulk Carriers from a "hold" rating to a "buy" rating in a research report on Friday, December 20th. Stifel Nicolaus downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating and dropped their price objective for the company from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group reiterated a "buy" rating and set a $28.00 target price on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Finally, DNB Markets upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating and raised their price target for the company from $19.30 to $20.20 in a research report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.80.

Star Bulk Carriers Trading Down 0.3 %

NASDAQ:SBLK traded down $0.04 on Monday, hitting $14.68. 2,058,959 shares of the stock were exchanged, compared to its average volume of 1,633,188. The stock has a market cap of $1.23 billion, a PE ratio of 4.96, a PEG ratio of 4.57 and a beta of 0.98. Star Bulk Carriers Corp. has a fifty-two week low of $14.37 and a fifty-two week high of $27.47. The company has a current ratio of 1.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average of $16.47 and a 200-day moving average of $19.78.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Thursday, December 5th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $2.40 annualized dividend and a dividend yield of 16.35%. Star Bulk Carriers's payout ratio is 81.08%.

Star Bulk Carriers 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.