Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Acquired by Millennium Management LLC

Millennium Management LLC lifted its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 97.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 436,244 shares of the shipping company's stock after purchasing an additional 215,074 shares during the quarter. Millennium Management LLC owned about 0.52% of Star Bulk Carriers worth $6,522,000 at the end of the most recent quarter.

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

Star Bulk Carriers Price Performance

Shares of SBLK stock traded up $0.32 during mid-day trading on Friday, reaching $16.50. The stock had a trading volume of 1,538,275 shares, compared to its average volume of 1,813,276. Star Bulk Carriers Corp. has a 12-month low of $12.06 and a 12-month high of $27.30. The company has a market cap of $1.94 billion, a P/E ratio of 5.75 and a beta of 0.89. The business has a 50-day simple moving average of $14.97 and a 200 day simple moving average of $15.59. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced 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 12.48% and a net margin of 24.08%. The business had revenue of $159.28 million during the quarter, compared to analysts' expectations of $162.57 million. During the same quarter last year, the business posted $0.87 earnings per share. On average, sell-side analysts anticipate that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, June 6th. Star Bulk Carriers's payout ratio is currently 10.10%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group cut their price objective on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.