Arrow Investment Advisors LLC Acquires Shares of 13,209 Star Bulk Carriers Corp. $SBLK

Key Points

• Arrow Investment Advisors LLC has taken a new position in Star Bulk Carriers Corp., acquiring 13,209 shares valued at approximately $228,000 during the 2nd quarter.
• Institutions currently own 33.91% of the stock, with several large investors, including Kingstone Capital Partners, increasing their stakes significantly.
• Star Bulk Carriers has declared a quarterly dividend of $0.05, which equates to an annualized dividend yield of 1.0% and a payout ratio of 19.05%.

Arrow Investment Advisors LLC bought a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,209 shares of the shipping company's stock, valued at approximately $228,000.

A number of other institutional investors have also recently bought and sold shares of SBLK. GAMMA Investing LLC increased its position in Star Bulk Carriers by 1,456.0% during the first 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 during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Star Bulk Carriers during the first quarter worth approximately $67,000. Mountain Hill Investment Partners Corp. raised 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 purchasing an additional 2,000 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in shares of Star Bulk Carriers in the 1st quarter worth about $125,000. Finally, Man Group plc purchased a new position in shares of Star Bulk Carriers in the 4th quarter worth about $154,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SBLK. 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. Zacks Research raised shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Wall Street Zen raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Star Bulk Carriers has a consensus rating of "Hold" and a consensus price target of $21.07.

Star Bulk Carriers Stock Down 2.8%

NASDAQ SBLK traded down $0.56 on Monday, reaching $19.14. The company had a trading volume of 1,105,620 shares, compared to its average volume of 1,652,110. The firm has a market capitalization of $2.25 billion, a PE ratio of 18.23 and a beta of 0.97. Star Bulk Carriers Corp. has a 1 year low of $12.06 and a 1 year high of $23.82. The firm has a 50-day moving average of $18.94 and a 200-day moving average of $16.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.42.

Star Bulk Carriers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Thursday, August 28th were issued 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 dividend payout ratio is currently 19.05%.

About Star Bulk Carriers

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.