Point72 Asset Management L.P. Has $1.59 Million Stock Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Point72 Asset Management L.P. lifted its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 232.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,400 shares of the shipping company's stock after acquiring an additional 74,359 shares during the quarter. Point72 Asset Management L.P. owned 0.13% of Star Bulk Carriers worth $1,591,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Man Group plc acquired a new position in shares of Star Bulk Carriers in the 4th quarter worth approximately $154,000. Millennium Management LLC boosted its position in Star Bulk Carriers by 97.2% during the 4th quarter. Millennium Management LLC now owns 436,244 shares of the shipping company's stock valued at $6,522,000 after purchasing an additional 215,074 shares during the period. Encompass Capital Advisors LLC boosted its position in Star Bulk Carriers by 13.5% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,240,650 shares of the shipping company's stock valued at $18,548,000 after purchasing an additional 147,659 shares during the period. Cubist Systematic Strategies LLC boosted its position in Star Bulk Carriers by 39,904.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 175,219 shares of the shipping company's stock valued at $2,620,000 after purchasing an additional 174,781 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in Star Bulk Carriers during the 4th quarter valued at approximately $168,000. Institutional investors and hedge funds own 33.91% of the company's stock.

Star Bulk Carriers Stock Performance

Star Bulk Carriers stock traded down $0.11 during mid-day trading on Tuesday, hitting $16.07. 373,056 shares of the company's stock traded hands, compared to its average volume of 1,872,186. The firm has a 50 day moving average price of $15.01 and a 200 day moving average price of $15.70. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.89 billion, a PE ratio of 5.60 and a beta of 0.89. Star Bulk Carriers Corp. has a one year low of $12.06 and a one year high of $27.47.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The shipping company reported ($0.07) EPS for the quarter, topping 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 company had revenue of $159.28 million for the quarter, compared to the consensus estimate of $162.57 million. During the same quarter in the previous year, the business earned $0.87 EPS. On average, equities analysts forecast that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 6th. Star Bulk Carriers's dividend payout ratio is presently 10.10%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reduced 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Star Bulk Carriers presently has an average rating of "Hold" and an average target price of $22.05.

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.