Tidal Investments LLC Trims Stake in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Tidal Investments LLC lowered its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 54.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 42,291 shares of the shipping company's stock after selling 51,006 shares during the period. Tidal Investments LLC owned 0.05% of Star Bulk Carriers worth $632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of Star Bulk Carriers by 7,313.4% in the third quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock worth $10,784,000 after buying an additional 449,113 shares during the period. Praetorian PR LLC acquired a new position in shares of Star Bulk Carriers during the fourth quarter valued at $6,267,000. Amundi lifted its stake in shares of Star Bulk Carriers by 48.9% during the fourth quarter. Amundi now owns 1,174,566 shares of the shipping company's stock valued at $17,454,000 after acquiring an additional 385,980 shares during the period. Norges Bank bought a new position in Star Bulk Carriers in the fourth quarter valued at about $3,530,000. Finally, Millennium Management LLC increased its position in Star Bulk Carriers by 97.2% in the fourth quarter. Millennium Management LLC now owns 436,244 shares of the shipping company's stock worth $6,522,000 after purchasing an additional 215,074 shares during the period. Institutional investors and hedge funds own 33.91% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered their target price on 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 given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $22.05.

Star Bulk Carriers Stock Performance

Shares of NASDAQ SBLK traded up $0.32 during trading hours on Friday, reaching $16.50. 1,538,275 shares of the stock were exchanged, compared to its average volume of 1,813,276. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 5.75 and a beta of 0.89. The stock's fifty day simple moving average is $14.97 and its 200 day simple moving average is $15.59. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. Star Bulk Carriers Corp. has a 52 week low of $12.06 and a 52 week high of $27.30.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued 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 firm had revenue of $159.28 million for the quarter, compared to analyst estimates of $162.57 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. During the same quarter last year, the business posted $0.87 earnings per share. Sell-side analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, June 6th. Star Bulk Carriers's dividend payout ratio is presently 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.