Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Purchased by Private Advisor Group LLC

Private Advisor Group LLC grew its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 262.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,538 shares of the shipping company's stock after acquiring an additional 28,637 shares during the quarter. Private Advisor Group LLC's holdings in Star Bulk Carriers were worth $615,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC increased its holdings in Star Bulk Carriers by 97.0% in the 1st quarter. Golden State Wealth Management LLC now owns 69,936 shares of the shipping company's stock worth $1,088,000 after buying an additional 34,433 shares during the period. Aurora Private Wealth Inc. purchased a new stake in Star Bulk Carriers in the 1st quarter worth approximately $893,000. Mariner LLC boosted its position in Star Bulk Carriers by 290.6% in the 4th quarter. Mariner LLC now owns 48,637 shares of the shipping company's stock worth $727,000 after purchasing an additional 36,186 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Star Bulk Carriers in the 4th quarter worth approximately $970,000. Finally, Northern Trust Corp boosted its position in Star Bulk Carriers by 21.1% in the 4th quarter. Northern Trust Corp now owns 93,352 shares of the shipping company's stock worth $1,396,000 after purchasing an additional 16,287 shares in the last quarter. Institutional investors and hedge funds own 33.91% of the company's stock.

Star Bulk Carriers Price Performance

Shares of NASDAQ:SBLK traded up $0.16 during midday trading on Friday, reaching $18.42. 574,682 shares of the company's stock traded hands, compared to its average volume of 1,776,542. Star Bulk Carriers Corp. has a 1 year low of $12.06 and a 1 year high of $23.82. The company has a market cap of $2.17 billion, a P/E ratio of 9.30 and a beta of 0.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.47 and a current ratio of 1.65. The company has a fifty day simple moving average of $17.42 and a two-hundred day simple moving average of $16.00.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.21. Star Bulk Carriers had a return on equity of 8.20% and a net margin of 18.62%. The firm had revenue of $159.28 million for the quarter, compared to analyst estimates of $162.57 million. During the same quarter last year, the firm posted $0.87 EPS. Equities analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.

Star Bulk Carriers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.05 per share. The ex-dividend date was Friday, June 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. Star Bulk Carriers's dividend payout ratio (DPR) is 10.10%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.