Gilman Hill Asset Management LLC Buys 71,195 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Gilman Hill Asset Management LLC boosted its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 22.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,293 shares of the shipping company's stock after purchasing an additional 71,195 shares during the quarter. Gilman Hill Asset Management LLC owned 0.33% of Star Bulk Carriers worth $6,073,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. NBC Securities Inc. raised its stake in Star Bulk Carriers by 225,341.2% during the 1st quarter. NBC Securities Inc. now owns 38,325 shares of the shipping company's stock valued at $596,000 after purchasing an additional 38,308 shares during the last quarter. GAMMA Investing LLC raised its stake in Star Bulk Carriers by 1,456.0% during the 1st quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company's stock valued at $48,000 after purchasing an additional 2,912 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Star Bulk Carriers by 23.1% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 59,006 shares of the shipping company's stock valued at $882,000 after purchasing an additional 11,067 shares during the last quarter. Michels Family Financial LLC acquired a new position in Star Bulk Carriers during the 4th quarter valued at $385,000. Finally, PharVision Advisers LLC acquired a new position in Star Bulk Carriers during the 4th quarter valued at $162,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Price Performance

Shares of SBLK stock traded up $0.26 during mid-day trading on Friday, reaching $16.69. The company's stock had a trading volume of 1,788,136 shares, compared to its average volume of 1,793,948. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $25.58. The company has a market cap of $1.96 billion, a P/E ratio of 5.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. The firm's 50-day moving average is $15.03 and its two-hundred day moving average is $15.47.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings data 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 net margin of 24.08% and a return on equity of 12.48%. The company had revenue of $159.28 million during the quarter, compared to analysts' expectations of $162.57 million. During the same quarter in the prior year, the company posted $0.87 EPS. On average, research analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, June 6th. Star Bulk Carriers's payout ratio is 10.10%.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut their target price on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Star Bulk Carriers currently has a consensus rating of "Hold" and an average price target 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.