Relyea Zuckerberg Hanson LLC cut its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 21.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,377 shares of the shipping company's stock after selling 34,353 shares during the quarter. Relyea Zuckerberg Hanson LLC owned about 0.15% of Star Bulk Carriers worth $1,874,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Encompass Capital Advisors LLC lifted its holdings in shares of Star Bulk Carriers by 27.5% during the 2nd quarter. Encompass Capital Advisors LLC now owns 2,052,262 shares of the shipping company's stock valued at $50,034,000 after acquiring an additional 442,860 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Star Bulk Carriers by 101.8% during the second quarter. Marshall Wace LLP now owns 1,791,426 shares of the shipping company's stock worth $43,675,000 after purchasing an additional 903,542 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Star Bulk Carriers by 25.9% in the second quarter. Renaissance Technologies LLC now owns 1,746,070 shares of the shipping company's stock worth $42,569,000 after buying an additional 358,870 shares during the period. Millennium Management LLC boosted its position in shares of Star Bulk Carriers by 335.4% in the second quarter. Millennium Management LLC now owns 1,221,255 shares of the shipping company's stock worth $29,774,000 after buying an additional 940,745 shares during the period. Finally, Philosophy Capital Management LLC acquired a new stake in shares of Star Bulk Carriers in the third quarter valued at about $24,842,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
SBLK has been the topic of several recent research reports. 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. DNB Markets upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating and upped their target price for the company from $19.30 to $20.20 in a research note on Thursday, November 21st. Stifel Nicolaus downgraded shares of Star Bulk Carriers from a "buy" rating to a "hold" rating and dropped their price target for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Star Bulk Carriers from a "hold" rating to a "buy" rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.80.
Check Out Our Latest Report on SBLK
Star Bulk Carriers Stock Down 0.3 %
Shares of Star Bulk Carriers stock traded down $0.04 on Friday, hitting $14.68. 2,058,959 shares of the company's stock traded hands, compared to its average volume of 1,633,188. Star Bulk Carriers Corp. has a 52-week low of $14.37 and a 52-week high of $27.47. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.23 billion, a P/E ratio of 4.96, a PEG ratio of 4.57 and a beta of 0.98. The firm's 50-day moving average is $16.47 and its 200 day moving average is $19.85.
Star Bulk Carriers Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, December 5th. This represents a $2.40 dividend on an annualized basis and a yield of 16.35%. Star Bulk Carriers's dividend payout ratio (DPR) is 81.08%.
About Star Bulk Carriers
(
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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