Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Sold by Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group reduced its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 41.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 173,769 shares of the shipping company's stock after selling 121,231 shares during the period. Star Bulk Carriers comprises approximately 1.5% of Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group's holdings, making the stock its 15th largest position. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group owned approximately 0.21% of Star Bulk Carriers worth $2,598,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Star Bulk Carriers in the fourth quarter worth approximately $28,000. Parkside Financial Bank & Trust purchased a new position in shares of Star Bulk Carriers in the fourth quarter worth approximately $30,000. Quarry LP grew its position in Star Bulk Carriers by 39.8% during the third quarter. Quarry LP now owns 2,365 shares of the shipping company's stock valued at $56,000 after purchasing an additional 673 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in Star Bulk Carriers during the third quarter valued at approximately $57,000. Finally, Steward Partners Investment Advisory LLC grew its position in Star Bulk Carriers by 177.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock valued at $39,000 after purchasing an additional 1,676 shares in the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.

Star Bulk Carriers Stock Performance

SBLK stock opened at $16.50 on Thursday. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 5.75 and a beta of 1.03. Star Bulk Carriers Corp. has a 12 month low of $14.30 and a 12 month high of $27.47. The firm has a 50 day moving average of $15.37 and a two-hundred day moving average of $17.91.

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Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its earnings results on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.08). The business had revenue of $308.92 million during the quarter, compared to the consensus estimate of $230.91 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. As a group, equities analysts anticipate that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.18%. The ex-dividend date is Tuesday, March 4th. Star Bulk Carriers's dividend payout ratio is 12.54%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group lowered their price objective on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. DNB Markets raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating and boosted their price objective for the company from $19.30 to $20.20 in a research report on Thursday, November 21st. Finally, 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Star Bulk Carriers presently has an average rating of "Hold" and an average price target of $22.05.

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.

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