Free Trial

LPL Financial LLC Acquires 50,599 Shares of Star Bulk Carriers Corp. $SBLK

Star Bulk Carriers logo with Transportation background

Key Points

  • LPL Financial LLC increased its stake in Star Bulk Carriers Corp. by 40.8%, acquiring an additional 50,599 shares, bringing its total holdings to 174,623 shares valued at $2.7 million.
  • Several other hedge funds also raised their stakes significantly in Star Bulk Carriers during the fourth quarter, indicating growing institutional interest in the company.
  • The stock currently has a consensus rating of "Hold" from analysts, with an average price target of $22.30, reflecting cautious optimism amid recent market fluctuations.
  • Looking to export and analyze Star Bulk Carriers data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

LPL Financial LLC increased its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 40.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 174,623 shares of the shipping company's stock after buying an additional 50,599 shares during the period. LPL Financial LLC owned 0.15% of Star Bulk Carriers worth $2,717,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Encompass Capital Advisors LLC raised its stake in Star Bulk Carriers by 13.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,240,650 shares of the shipping company's stock worth $18,548,000 after buying an additional 147,659 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Star Bulk Carriers by 12.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 813,000 shares of the shipping company's stock worth $12,154,000 after buying an additional 89,600 shares during the last quarter. Grand Alliance Asset Management Ltd raised its stake in Star Bulk Carriers by 37.0% during the fourth quarter. Grand Alliance Asset Management Ltd now owns 740,000 shares of the shipping company's stock worth $11,063,000 after buying an additional 200,000 shares during the last quarter. Geode Capital Management LLC raised its stake in Star Bulk Carriers by 22.8% during the fourth quarter. Geode Capital Management LLC now owns 561,713 shares of the shipping company's stock worth $8,398,000 after buying an additional 104,439 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Star Bulk Carriers by 97.2% during the fourth quarter. Millennium Management LLC now owns 436,244 shares of the shipping company's stock worth $6,522,000 after buying an additional 215,074 shares during the last quarter. Institutional investors own 33.91% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group reissued a "buy" rating and set a $22.00 target price on shares of Star Bulk Carriers in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Star Bulk Carriers currently has a consensus rating of "Hold" and an average price target of $22.30.

View Our Latest Analysis on Star Bulk Carriers

Star Bulk Carriers Trading Down 0.9%

NASDAQ:SBLK opened at $18.66 on Monday. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 17.77 and a beta of 0.94. The firm has a fifty day simple moving average of $17.98 and a two-hundred day simple moving average of $16.32. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $23.82. The company has a current ratio of 1.61, a quick ratio of 1.42 and a debt-to-equity ratio of 0.40.

Star Bulk Carriers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Thursday, August 28th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 28th. Star Bulk Carriers's dividend payout ratio (DPR) is currently 19.05%.

About Star Bulk Carriers

(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.

Read More

Want to see what other hedge funds are holding SBLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report).

Institutional Ownership by Quarter for Star Bulk Carriers (NASDAQ:SBLK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Star Bulk Carriers Right Now?

Before you consider Star Bulk Carriers, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Star Bulk Carriers wasn't on the list.

While Star Bulk Carriers currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Ride The A.I. Megaboom Cover


We are about to experience the greatest A.I. boom in stock market history...

Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.

That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.

  1. The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
  2. The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
  3. Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.

Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.

And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...

Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Palantir’s Soaring Valuation—Justified or Overhyped?
3 Stocks With Explosive Upside
September Slowdown: 3 Stocks to Buy When the Pullback Comes

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines