Aurora Private Wealth Inc. Invests $893,000 in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Aurora Private Wealth Inc. acquired a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 57,416 shares of the shipping company's stock, valued at approximately $893,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBLK. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Star Bulk Carriers during the fourth quarter worth $28,000. Parkside Financial Bank & Trust acquired a new stake in shares of Star Bulk Carriers during the fourth quarter worth $30,000. Capital Analysts LLC raised its position in shares of Star Bulk Carriers by 215.9% during the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock worth $34,000 after purchasing an additional 1,561 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of Star Bulk Carriers by 177.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock worth $39,000 after purchasing an additional 1,676 shares during the period. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in shares of Star Bulk Carriers during the fourth quarter worth $45,000. Institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Stock Performance

Shares of SBLK stock opened at $17.12 on Thursday. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $25.25. 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 company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 8.65 and a beta of 0.95. The stock's fifty day simple moving average is $15.84 and its 200-day simple moving average is $15.45.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its quarterly 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. Star Bulk Carriers had a return on equity of 8.20% and a net margin of 18.62%. The business had revenue of $159.28 million for the quarter, compared to the consensus estimate of $162.57 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. On average, sell-side analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.

Star Bulk Carriers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.20 dividend on an annualized basis and a yield of 1.17%. Star Bulk Carriers's dividend payout ratio (DPR) is currently 10.10%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Star Bulk Carriers from a "hold" rating to a "sell" rating in a research report on Sunday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $22.05.

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.

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