Capital Advisory Group Advisory Services LLC acquired a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 118,937 shares of the shipping company's stock, valued at approximately $2,052,000. Capital Advisory Group Advisory Services LLC owned about 0.10% of Star Bulk Carriers as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Star Bulk Carriers by 1,456.0% in the 1st quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company's stock worth $48,000 after acquiring an additional 2,912 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Star Bulk Carriers in the 1st quarter worth approximately $67,000. Mountain Hill Investment Partners Corp. lifted its holdings in shares of Star Bulk Carriers by 66.7% in the 1st quarter. Mountain Hill Investment Partners Corp. now owns 5,000 shares of the shipping company's stock worth $78,000 after acquiring an additional 2,000 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of Star Bulk Carriers in the 1st quarter worth approximately $125,000. Finally, Man Group plc bought a new stake in shares of Star Bulk Carriers in the 4th quarter worth approximately $154,000. 33.91% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on SBLK shares. Wall Street Zen upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Zacks Research upgraded shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $22.00 target price on shares of Star Bulk Carriers in a research note on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $21.07.
Get Our Latest Stock Analysis on Star Bulk Carriers
Star Bulk Carriers Trading Down 2.8%
Star Bulk Carriers stock traded down $0.56 during mid-day trading on Monday, reaching $19.14. 1,105,620 shares of the company traded hands, compared to its average volume of 1,227,931. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.42. The firm's 50 day moving average price is $18.94 and its 200 day moving average price is $16.96. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 18.23 and a beta of 0.97. Star Bulk Carriers Corp. has a 52-week low of $12.06 and a 52-week high of $23.82.
Star Bulk Carriers Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Thursday, August 28th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. Star Bulk Carriers's dividend payout ratio is currently 19.05%.
Star Bulk Carriers Company Profile
(
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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