Voloridge Investment Management LLC Has $14.98 Million Stake in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Voloridge Investment Management LLC decreased its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 28.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,002,252 shares of the shipping company's stock after selling 400,674 shares during the quarter. Voloridge Investment Management LLC owned 1.19% of Star Bulk Carriers worth $14,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SBLK. Commonwealth Equity Services LLC raised its position in shares of Star Bulk Carriers by 4.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 18,422 shares of the shipping company's stock worth $275,000 after acquiring an additional 826 shares in the last quarter. Blue Trust Inc. boosted its position in Star Bulk Carriers by 51.3% during the fourth quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock worth $46,000 after purchasing an additional 1,038 shares in the last quarter. Sigma Planning Corp raised 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 acquiring an additional 1,060 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Star Bulk Carriers by 8.3% in the fourth quarter. DAVENPORT & Co LLC now owns 14,129 shares of the shipping company's stock valued at $211,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Guidance Capital Inc. increased its stake in Star Bulk Carriers by 6.1% during the fourth quarter. Guidance Capital Inc. now owns 25,103 shares of the shipping company's stock worth $372,000 after acquiring an additional 1,434 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group decreased their price target on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Star Bulk Carriers currently has a consensus rating of "Hold" and an average price target of $22.05.

Star Bulk Carriers Stock Performance

Shares of NASDAQ:SBLK traded up $0.29 during trading hours on Thursday, hitting $16.30. The stock had a trading volume of 288,016 shares, compared to its average volume of 1,810,731. The stock's fifty day simple moving average is $14.97 and its 200 day simple moving average is $15.70. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $27.47. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 5.67 and a beta of 0.89. 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 (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The shipping company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.21. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The company had revenue of $159.28 million for the quarter, compared to analyst estimates of $162.57 million. During the same quarter last year, the business earned $0.87 earnings per share. Sell-side analysts anticipate that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.

Star Bulk Carriers Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, June 6th. Star Bulk Carriers's payout ratio is 10.10%.

About Star Bulk Carriers

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.