689,818 Shares in Star Bulk Carriers Corp. $SBLK Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a stake in Star Bulk Carriers Corp. by purchasing 689,818 shares valued at approximately $10.7 million, representing about 0.59% ownership of the company.
• Several institutional investors have increased their stakes in Star Bulk Carriers, including Amundi, which raised its stake by 59.1%, now owning 1,868,249 shares valued at $26.5 million.
• Analysts have given Star Bulk Carriers an average rating of "Hold" with a consensus target price of $21.07, with Jefferies Financial Group setting a target price of $22.00.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 689,818 shares of the shipping company's stock, valued at approximately $10,734,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.59% of Star Bulk Carriers at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Star Bulk Carriers by 1,456.0% in the 1st quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company's stock worth $48,000 after acquiring an additional 2,912 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Star Bulk Carriers during the 1st quarter valued at $67,000. Mountain Hill Investment Partners Corp. grew its holdings 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 valued at $78,000 after buying an additional 2,000 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in Star Bulk Carriers during the 1st quarter valued at $125,000. Finally, Man Group plc acquired a new stake in Star Bulk Carriers during the 4th quarter valued at $154,000. Institutional investors and hedge funds own 33.91% of the company's stock.

Star Bulk Carriers Trading Up 0.7%

Shares of SBLK stock traded up $0.14 during mid-day trading on Monday, hitting $19.35. 493,020 shares of the company's stock were exchanged, compared to its average volume of 1,656,868. Star Bulk Carriers Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $23.82. The stock has a 50-day simple moving average of $18.77 and a two-hundred day simple moving average of $16.80. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 18.43 and a beta of 0.97.

Star Bulk Carriers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Thursday, August 28th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 28th. Star Bulk Carriers's dividend payout ratio (DPR) is 19.05%.

Analyst Ratings Changes

SBLK has been the topic of a number of analyst reports. Wall Street Zen upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Zacks Research upgraded Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Jefferies Financial Group restated a "buy" rating and set a $22.00 price objective on shares of Star Bulk Carriers in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Star Bulk Carriers presently has a consensus rating of "Hold" and a consensus price target of $21.07.

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.