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

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in Star Bulk Carriers by 4.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 18,422 shares of the shipping company's stock worth $275,000 after buying an additional 826 shares in the last quarter. Sigma Planning Corp increased its position 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 worth $336,000 after acquiring an additional 1,060 shares during the period. Sowell Financial Services LLC raised its stake in shares of Star Bulk Carriers by 2.4% in the first quarter. Sowell Financial Services LLC now owns 61,909 shares of the shipping company's stock valued at $963,000 after acquiring an additional 1,466 shares in the last quarter. Capital Analysts LLC boosted its holdings 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 valued at $34,000 after purchasing an additional 1,561 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake 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 purchasing an additional 1,676 shares in the last quarter. Hedge funds and other institutional investors own 33.91% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Star Bulk Carriers from a "hold" rating to a "sell" rating in a research note on Sunday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.05.

Star Bulk Carriers Stock Performance

Shares of SBLK stock opened at $17.12 on Thursday. The company has a market cap 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 price of $15.84 and a 200 day moving average price of $15.45. 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 Corp. has a 12 month low of $12.06 and a 12 month high of $25.25.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.21. Star Bulk Carriers had a return on equity of 8.20% and a net margin of 18.62%. The company had revenue of $159.28 million during the quarter, compared to the consensus estimate of $162.57 million. During the same period in the previous year, the business earned $0.87 EPS. Sell-side analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.

Star Bulk Carriers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders 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 annualized dividend and a yield of 1.17%. Star Bulk Carriers's dividend 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.

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