Ramirez Asset Management Inc. decreased its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 99.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,797 shares of the shipping company's stock after selling 500,732 shares during the quarter. Ramirez Asset Management Inc.'s holdings in Star Bulk Carriers were worth $31,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in shares of 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 valued at $1,088,000 after acquiring an additional 34,433 shares in the last quarter. Aurora Private Wealth Inc. bought a new position in shares of Star Bulk Carriers in the 1st quarter valued at about $893,000. 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 valued at $48,000 after acquiring an additional 2,912 shares in the last quarter. Pekin Hardy Strauss Inc. bought a new position in shares of Star Bulk Carriers in the 1st quarter valued at about $394,000. Finally, LPL Financial LLC grew its holdings in shares of Star Bulk Carriers by 40.8% in the 1st quarter. LPL Financial LLC now owns 174,623 shares of the shipping company's stock valued at $2,717,000 after acquiring an additional 50,599 shares in the last quarter. Institutional investors own 33.91% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on SBLK shares. Weiss Ratings restated a "hold (c-)" rating on shares of Star Bulk Carriers in a report on Wednesday. Jefferies Financial Group restated a "buy" rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a report on Thursday, August 7th. Zacks Research upgraded Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Wall Street Zen upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $21.07.
Check Out Our Latest Research Report on Star Bulk Carriers
Star Bulk Carriers Trading Down 5.1%
Star Bulk Carriers stock opened at $16.79 on Friday. Star Bulk Carriers Corp. has a 52 week low of $12.06 and a 52 week high of $21.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.42 and a current ratio of 1.61. The stock has a market capitalization of $1.98 billion, a P/E ratio of 15.99 and a beta of 0.95. The stock has a 50-day simple moving average of $18.95 and a 200 day simple moving average of $17.16.
Star Bulk Carriers Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Thursday, August 28th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, August 28th. Star Bulk Carriers's payout ratio is currently 19.05%.
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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