Stifel Financial Corp Acquires 413,423 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Stifel Financial Corp boosted its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 152.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 685,053 shares of the shipping company's stock after purchasing an additional 413,423 shares during the period. Stifel Financial Corp owned about 0.82% of Star Bulk Carriers worth $16,229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBLK. Nisa Investment Advisors LLC acquired a new position in Star Bulk Carriers during the second quarter worth $32,000. Blue Trust Inc. boosted its stake in shares of Star Bulk Carriers by 190.5% during the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company's stock worth $49,000 after buying an additional 1,328 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Star Bulk Carriers in the 2nd quarter valued at about $54,000. Quarry LP increased its position in shares of Star Bulk Carriers by 39.8% in the third quarter. Quarry LP now owns 2,365 shares of the shipping company's stock valued at $56,000 after acquiring an additional 673 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Star Bulk Carriers in the second quarter valued at about $72,000. Institutional investors and hedge funds own 33.91% of the company's stock.

Star Bulk Carriers Stock Performance

Star Bulk Carriers stock traded down $0.54 during trading hours on Wednesday, hitting $15.54. The company had a trading volume of 2,562,089 shares, compared to its average volume of 1,653,505. The firm has a 50-day moving average of $19.61 and a 200 day moving average of $21.87. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.69 and a quick ratio of 1.50. The firm has a market cap of $1.31 billion, a PE ratio of 5.43, a PEG ratio of 4.17 and a beta of 0.96. Star Bulk Carriers Corp. has a one year low of $15.44 and a one year high of $27.47.

Star Bulk Carriers Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Thursday, December 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.40 annualized dividend and a yield of 15.44%. Star Bulk Carriers's dividend payout ratio (DPR) is presently 81.08%.

Analysts Set New Price Targets

SBLK has been the subject of a number of analyst reports. 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 note on Thursday, November 21st. StockNews.com raised shares of Star Bulk Carriers from a "hold" rating to a "buy" rating in a research note on Wednesday, December 4th. Jefferies Financial Group reaffirmed a "buy" rating and set a $28.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Stifel Nicolaus cut shares of Star Bulk Carriers from a "buy" rating to a "hold" rating and cut their price target for the company from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Star Bulk Carriers presently has an average rating of "Moderate Buy" and an average price target of $23.80.

Star Bulk Carriers Company 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.