Dakota Wealth Management Purchases 68,166 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Dakota Wealth Management lifted its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 255.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,841 shares of the shipping company's stock after purchasing an additional 68,166 shares during the period. Dakota Wealth Management owned 0.08% of Star Bulk Carriers worth $1,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBLK. Steward Partners Investment Advisory LLC lifted its position in Star Bulk Carriers by 177.0% during 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. Raymond James Financial Inc. acquired a new position in Star Bulk Carriers during the 4th quarter worth $970,000. Commonwealth Equity Services LLC raised its position in shares of Star Bulk Carriers by 4.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 18,422 shares of the shipping company's stock valued at $275,000 after buying an additional 826 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Star Bulk Carriers during the fourth quarter valued at about $356,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Star Bulk Carriers during the fourth quarter valued at about $1,271,000. Institutional investors and hedge funds own 33.91% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $22.05.

Star Bulk Carriers Price Performance

NASDAQ SBLK traded down $0.01 on Friday, reaching $18.76. The company's stock had a trading volume of 412,093 shares, compared to its average volume of 1,822,140. The firm has a market cap of $2.21 billion, a PE ratio of 9.47 and a beta of 0.93. The business has a 50-day moving average price of $16.93 and a 200 day moving average price of $15.75. Star Bulk Carriers Corp. has a 52 week low of $12.06 and a 52 week high of $24.51. The company has a current ratio of 1.65, a quick ratio of 1.47 and a debt-to-equity ratio of 0.42.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.21. The business 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 firm posted $0.87 earnings per share. Sell-side analysts expect that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.05 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.20 dividend on an annualized basis and a yield of 1.07%. Star Bulk Carriers's payout ratio is currently 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.