Armor Advisors L.L.C. Has $5.20 Million Stock Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Key Points

• Armor Advisors L.L.C. reduced its stake in Star Bulk Carriers by 8.7%, now holding 334,069 shares worth approximately $5.20 million, making it the company's 10th largest holding.
• Wall Street analysts have adjusted their ratings for Star Bulk Carriers, with one sell, two hold, and two buy ratings, while the consensus target price is set at $22.05.
• Star Bulk Carriers recently reported earnings, posting a loss of $(0.07) per share, which was better than analysts' expectations of $(0.28), while revenue stood at $159.28 million.

Armor Advisors L.L.C. lowered its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,069 shares of the shipping company's stock after selling 31,694 shares during the period. Star Bulk Carriers makes up 4.1% of Armor Advisors L.L.C.'s investment portfolio, making the stock its 10th largest holding. Armor Advisors L.L.C. owned about 0.28% of Star Bulk Carriers worth $5,198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Praetorian PR LLC purchased a new position in Star Bulk Carriers in the fourth quarter worth about $6,267,000. Norges Bank purchased a new position in Star Bulk Carriers in the 4th quarter worth approximately $3,530,000. Millennium Management LLC raised its holdings in Star Bulk Carriers by 97.2% in the 4th quarter. Millennium Management LLC now owns 436,244 shares of the shipping company's stock worth $6,522,000 after acquiring an additional 215,074 shares during the last quarter. Grand Alliance Asset Management Ltd raised its holdings in Star Bulk Carriers by 37.0% in the 4th quarter. Grand Alliance Asset Management Ltd now owns 740,000 shares of the shipping company's stock worth $11,063,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Star Bulk Carriers by 39,904.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 175,219 shares of the shipping company's stock worth $2,620,000 after acquiring an additional 174,781 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Star Bulk Carriers from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $22.05.

Star Bulk Carriers Price Performance

Shares of SBLK opened at $18.42 on Friday. The firm has a market cap of $2.17 billion, a PE ratio of 9.30 and a beta of 0.94. The company has a current ratio of 1.65, a quick ratio of 1.47 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $17.46 and a two-hundred day simple moving average of $16.03. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $23.82.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.21. The business had revenue of $159.28 million during the quarter, compared to analyst estimates of $162.57 million. Star Bulk Carriers had a net margin of 18.62% and a return on equity of 8.20%. During the same period in the previous year, the business earned $0.87 EPS. On average, equities analysts anticipate that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, June 6th. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. Star Bulk Carriers's payout ratio is currently 10.10%.

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.

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