Dakota Wealth Management grew its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 255.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,841 shares of the shipping company's stock after purchasing an additional 68,166 shares during the quarter. Dakota Wealth Management owned approximately 0.08% of Star Bulk Carriers worth $1,476,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Capital Analysts LLC lifted its holdings in Star Bulk Carriers by 215.9% during the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock valued at $34,000 after purchasing an additional 1,561 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Star Bulk Carriers by 177.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock worth $39,000 after acquiring an additional 1,676 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in Star Bulk Carriers in the fourth quarter valued at approximately $45,000. GAMMA Investing LLC raised its position in shares of 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 buying an additional 2,912 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in Star Bulk Carriers during the first quarter worth about $125,000. Hedge funds and other institutional investors own 33.91% of the company's stock.
Star Bulk Carriers Trading Down 1.1%
Shares of NASDAQ SBLK traded down $0.21 during mid-day trading on Friday, hitting $18.56. The stock had a trading volume of 1,149,423 shares, compared to its average volume of 1,829,011. The business has a 50 day moving average price of $16.99 and a two-hundred day moving average price of $15.77. Star Bulk Carriers Corp. has a 1 year low of $12.06 and a 1 year high of $24.51. 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 firm has a market cap of $2.18 billion, a P/E ratio of 9.37 and a beta of 0.93.
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 analysts' consensus estimates 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 net margin of 18.62% and a return on equity of 8.20%. During the same quarter in the previous year, the company earned $0.87 earnings per share. On average, equities analysts anticipate 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 paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.20 annualized dividend and a dividend yield of 1.08%. Star Bulk Carriers's dividend payout ratio (DPR) is presently 10.10%.
Analyst Ratings Changes
Separately, Wall Street Zen upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $22.05.
Get Our Latest Stock Analysis on SBLK
About Star Bulk Carriers
(
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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