Raiffeisen Bank International AG acquired a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 32,455 shares of the shipping company's stock, valued at approximately $477,000.
Several other hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its position in shares of Star Bulk Carriers by 232.1% during the 4th quarter. Point72 Asset Management L.P. now owns 106,400 shares of the shipping company's stock worth $1,591,000 after acquiring an additional 74,359 shares in the last quarter. Man Group plc acquired a new stake in shares of Star Bulk Carriers in the 4th quarter valued at $154,000. Millennium Management LLC increased its stake in shares of Star Bulk Carriers by 97.2% in 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 last quarter. Encompass Capital Advisors LLC increased its stake in shares of Star Bulk Carriers by 13.5% in 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 last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of 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 worth $2,620,000 after buying an additional 174,781 shares in the last quarter. 33.91% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Jefferies Financial Group decreased their target price on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. StockNews.com lowered shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $22.05.
Check Out Our Latest Report on Star Bulk Carriers
Star Bulk Carriers Price Performance
SBLK traded up $0.24 on Tuesday, reaching $16.48. The stock had a trading volume of 1,117,132 shares, compared to its average volume of 1,826,203. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 5.74 and a beta of 0.89. Star Bulk Carriers Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $27.47. The firm has a 50-day moving average of $15.05 and a 200-day moving average of $15.82.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $162.57 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. As a group, sell-side analysts anticipate that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.
Star Bulk Carriers Announces Dividend
The firm also recently declared a dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, June 6th. Star Bulk Carriers's payout ratio is currently 10.10%.
Star Bulk Carriers Company Profile
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Free Report)
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.
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