Silvercrest Asset Management Group LLC Purchases 21,489 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Silvercrest Asset Management Group LLC increased its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 40.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,159 shares of the shipping company's stock after acquiring an additional 21,489 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 0.09% of Star Bulk Carriers worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SBLK. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Star Bulk Carriers in the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust bought a new position in shares of Star Bulk Carriers during the fourth quarter valued at approximately $30,000. Capital Analysts LLC lifted its stake in Star Bulk Carriers by 215.9% in the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock worth $34,000 after acquiring an additional 1,561 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Star Bulk Carriers by 177.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock valued at $39,000 after acquiring an additional 1,676 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Star Bulk Carriers during the 4th quarter valued at $45,000. 33.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group decreased their price objective on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Star Bulk Carriers currently has a consensus rating of "Hold" and a consensus target price of $22.05.

Star Bulk Carriers Stock Performance

Star Bulk Carriers stock traded up $0.19 during midday trading on Monday, reaching $16.18. 1,039,106 shares of the company traded hands, compared to its average volume of 1,820,542. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $27.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50. The business has a 50 day moving average of $15.02 and a two-hundred day moving average of $15.73. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 5.64 and a beta of 0.89.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.21. The firm had revenue of $159.28 million for the quarter, compared to analysts' expectations of $162.57 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. During the same period in the prior year, the firm earned $0.87 EPS. As a group, research analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Dividend Announcement

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

Star Bulk Carriers Profile

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.