Amundi Grows Stake in Star Bulk Carriers Corp. $SBLK

Amundi lifted its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 59.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,868,249 shares of the shipping company's stock after purchasing an additional 693,683 shares during the quarter. Amundi owned about 1.59% of Star Bulk Carriers worth $26,548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBLK. GAMMA Investing LLC boosted its position in shares of Star Bulk Carriers by 1,456.0% during the 1st quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company's stock worth $48,000 after purchasing an additional 2,912 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Star Bulk Carriers in the first quarter worth approximately $67,000. Mountain Hill Investment Partners Corp. lifted its holdings in shares of Star Bulk Carriers by 66.7% in the first quarter. Mountain Hill Investment Partners Corp. now owns 5,000 shares of the shipping company's stock valued at $78,000 after purchasing an additional 2,000 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Star Bulk Carriers in the first quarter valued at approximately $125,000. Finally, Man Group plc bought a new position in shares of Star Bulk Carriers in the fourth quarter valued at approximately $154,000. Institutional investors own 33.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SBLK. Wall Street Zen upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Zacks Research upgraded Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $22.00 target price on shares of Star Bulk Carriers in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $21.07.

Star Bulk Carriers Stock Performance

Star Bulk Carriers stock traded up $0.12 during mid-day trading on Friday, reaching $19.31. The company's stock had a trading volume of 898,667 shares, compared to its average volume of 1,661,354. Star Bulk Carriers Corp. has a 12-month low of $12.06 and a 12-month high of $23.82. The company has a market capitalization of $2.27 billion, a P/E ratio of 18.38 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.42 and a current ratio of 1.61. The firm's fifty day moving average price is $18.74 and its two-hundred day moving average price is $16.75.

Star Bulk Carriers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Thursday, August 28th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, August 28th. Star Bulk Carriers's payout ratio is currently 19.05%.

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.