Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Acquired by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP increased its stake in Star Bulk Carriers Corp. by 177.7%, acquiring an additional 102,619 shares to reach a total of 160,378 shares.
• Star Bulk Carriers reported a quarterly earnings per share of ($0.07), exceeding the consensus estimate of ($0.28) by $0.21.
• The company has announced a quarterly dividend of $0.05 per share, representing an annualized yield of 1.06%.

GSA Capital Partners LLP boosted its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 177.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 160,378 shares of the shipping company's stock after acquiring an additional 102,619 shares during the period. Star Bulk Carriers comprises approximately 0.2% of GSA Capital Partners LLP's holdings, making the stock its 28th biggest holding. GSA Capital Partners LLP owned 0.14% of Star Bulk Carriers worth $2,495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Analysts LLC grew its stake in shares of Star Bulk Carriers by 215.9% during the 4th quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock valued at $34,000 after buying an additional 1,561 shares during the period. GAMMA Investing LLC grew its stake in shares of Star Bulk Carriers by 1,456.0% during 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 during the period. Mountain Hill Investment Partners Corp. boosted its position in Star Bulk Carriers by 66.7% during 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 stake in Star Bulk Carriers during the 1st quarter worth $125,000. Finally, Man Group plc purchased a new stake in Star Bulk Carriers during the 4th quarter worth $154,000. 33.91% of the stock is owned by hedge funds and other institutional investors.

Star Bulk Carriers Stock Up 0.8%

NASDAQ:SBLK traded up $0.15 on Friday, reaching $18.41. The stock had a trading volume of 447,239 shares, compared to its average volume of 1,775,458. 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 50-day moving average of $17.42 and a 200 day moving average of $16.00. The stock has a market cap of $2.16 billion, a P/E ratio of 9.30 and a beta of 0.93. Star Bulk Carriers Corp. has a 12-month low of $12.06 and a 12-month high of $23.82.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its quarterly earnings data 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 company 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 period in the prior year, the company posted $0.87 EPS. On average, research analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 6th. Star Bulk Carriers's dividend payout ratio is presently 10.10%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Star Bulk Carriers has an average rating of "Hold" and a consensus target price of $22.05.

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.