Amundi Acquires 693,683 Shares of Star Bulk Carriers Corp. $SBLK

Amundi boosted its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 59.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,868,249 shares of the shipping company's stock after buying an additional 693,683 shares during the period. Amundi owned approximately 1.59% of Star Bulk Carriers worth $26,548,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in Star Bulk Carriers by 97.0% in the 1st quarter. Golden State Wealth Management LLC now owns 69,936 shares of the shipping company's stock valued at $1,088,000 after buying an additional 34,433 shares in the last quarter. Aurora Private Wealth Inc. purchased a new position in Star Bulk Carriers in the 1st quarter valued at approximately $893,000. Northern Trust Corp grew its stake in Star Bulk Carriers by 21.1% in the 4th quarter. Northern Trust Corp now owns 93,352 shares of the shipping company's stock valued at $1,396,000 after buying an additional 16,287 shares in the last quarter. GAMMA Investing LLC grew its stake in 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 valued at $48,000 after buying an additional 2,912 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in Star Bulk Carriers in the 4th quarter valued at approximately $477,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK traded up $0.02 during mid-day trading on Friday, reaching $19.21. 1,261,718 shares of the company were exchanged, compared to its average volume of 1,066,978. Star Bulk Carriers Corp. has a 52 week low of $12.06 and a 52 week high of $23.82. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $2.26 billion, a PE ratio of 18.30 and a beta of 0.97. The company's 50 day moving average price is $18.77 and its 200 day moving average price is $16.79.

Star Bulk Carriers Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have commented on SBLK. Wall Street Zen raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Zacks Research raised 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 reissued a "buy" rating and issued a $22.00 price target on shares of Star Bulk Carriers in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $21.07.

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.