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. acquired a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 689,818 shares of the shipping company's stock, valued at approximately $10,734,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.59% of Star Bulk Carriers as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SBLK. GAMMA Investing LLC raised 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 worth $48,000 after acquiring an additional 2,912 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Star Bulk Carriers during the 1st quarter worth approximately $67,000. Mountain Hill Investment Partners Corp. grew 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 last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Star Bulk Carriers during the 1st quarter worth approximately $125,000. Finally, Man Group plc purchased a new stake in Star Bulk Carriers during the 4th quarter worth approximately $154,000. Institutional investors own 33.91% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on SBLK. Wall Street Zen raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Zacks Research raised shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $22.00 target price on shares of Star Bulk Carriers in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Star Bulk Carriers presently has an average rating of "Hold" and an average target price of $21.07.

Star Bulk Carriers Stock Performance

Shares of SBLK stock traded up $0.02 during trading hours on Friday, hitting $19.21. The company's stock had a trading volume of 1,261,718 shares, compared to its average volume of 1,066,978. The company has a 50 day moving average of $18.77 and a 200 day moving average of $16.78. The stock has a market cap of $2.26 billion, a PE ratio of 18.30 and a beta of 0.97. 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 Corp. has a 12-month low of $12.06 and a 12-month high of $23.82.

Star Bulk Carriers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Thursday, August 28th were issued 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 is 19.05%.

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.