Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Bought by Golden State Wealth Management LLC

Golden State Wealth Management LLC boosted its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 97.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,936 shares of the shipping company's stock after buying an additional 34,433 shares during the quarter. Golden State Wealth Management LLC owned approximately 0.06% of Star Bulk Carriers worth $1,088,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB grew its holdings in shares of Star Bulk Carriers by 23.4% during the fourth quarter. Handelsbanken Fonder AB now owns 19,082 shares of the shipping company's stock valued at $285,000 after purchasing an additional 3,616 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Star Bulk Carriers by 4.9% during the fourth quarter. Sigma Planning Corp now owns 22,482 shares of the shipping company's stock valued at $336,000 after purchasing an additional 1,060 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Star Bulk Carriers by 44.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,557 shares of the shipping company's stock valued at $591,000 after purchasing an additional 12,185 shares during the last quarter. Parkside Financial Bank & Trust bought a new position in shares of Star Bulk Carriers during the fourth quarter valued at approximately $30,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Star Bulk Carriers during the fourth quarter valued at approximately $241,000. 33.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Star Bulk Carriers from a "hold" rating to a "sell" rating in a report on Sunday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Star Bulk Carriers currently has an average rating of "Hold" and a consensus target price of $22.05.

Star Bulk Carriers Stock Performance

SBLK stock traded up $0.03 on Friday, reaching $17.12. The company's stock had a trading volume of 2,504,653 shares, compared to its average volume of 1,806,487. Star Bulk Carriers Corp. has a 52 week low of $12.06 and a 52 week high of $25.25. The company has a market capitalization of $2.01 billion, a P/E ratio of 8.65 and a beta of 0.95. The firm has a fifty day moving average of $15.98 and a two-hundred day moving average of $15.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.47.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $162.57 million. Star Bulk Carriers had a return on equity of 8.20% and a net margin of 18.62%. During the same period last year, the company posted $0.87 EPS. As a group, analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.

Star Bulk Carriers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Friday, June 6th. 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.