Aurora Private Wealth Inc. acquired a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 57,416 shares of the shipping company's stock, valued at approximately $893,000.
A number of other hedge funds also recently made changes to their positions in SBLK. Handelsbanken Fonder AB raised its stake in shares of Star Bulk Carriers by 23.4% in the 4th quarter. Handelsbanken Fonder AB now owns 19,082 shares of the shipping company's stock valued at $285,000 after buying an additional 3,616 shares in the last quarter. Sigma Planning Corp raised its stake in shares of Star Bulk Carriers by 4.9% in the 4th quarter. Sigma Planning Corp now owns 22,482 shares of the shipping company's stock valued at $336,000 after buying an additional 1,060 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Star Bulk Carriers by 44.5% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,557 shares of the shipping company's stock valued at $591,000 after buying an additional 12,185 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in shares of Star Bulk Carriers in the 4th quarter valued at $30,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Star Bulk Carriers in the 4th quarter valued at $241,000. Institutional investors and hedge funds own 33.91% of the company's stock.
Star Bulk Carriers Price Performance
Shares of Star Bulk Carriers stock traded up $0.03 during mid-day trading on Friday, reaching $17.12. 2,504,653 shares of the stock were exchanged, compared to its average volume of 1,806,487. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 8.65 and a beta of 0.95. 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 50-day simple moving average of $15.98 and a 200 day simple moving average of $15.46. Star Bulk Carriers Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $25.25.
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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.21. The business had revenue of $159.28 million during the quarter, compared to analysts' expectations 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 quarter last year, the company posted $0.87 EPS. On average, sell-side analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.
Star Bulk Carriers Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Friday, June 6th. Star Bulk Carriers's payout ratio is presently 10.10%.
Wall Street Analyst Weigh In
Separately, Wall Street Zen cut shares of Star Bulk Carriers from a "hold" rating to a "sell" rating in a research note on Sunday, June 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $22.05.
View Our Latest Stock Analysis on SBLK
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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