Star Bulk Carriers Corp. $SBLK Shares Bought by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased its stake in Star Bulk Carriers by 56% in Q1, now holding 938,208 shares valued at approximately $14.6 million.
• Several hedge funds have recently altered their holdings in Star Bulk Carriers, with notable increases from Golden State Wealth Management and GAMMA Investing LLC, contributing to 33.91% of institutional ownership.
• Star Bulk Carriers declared a quarterly dividend of $0.05 per share, indicating an annual yield of 1.0% and a payout ratio of 19.05%.

Focus Partners Wealth lifted its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 56.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 938,208 shares of the shipping company's stock after purchasing an additional 336,873 shares during the quarter. Focus Partners Wealth owned about 0.80% of Star Bulk Carriers worth $14,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC increased its stake in Star Bulk Carriers by 97.0% in the first quarter. Golden State Wealth Management LLC now owns 69,936 shares of the shipping company's stock valued at $1,088,000 after purchasing an additional 34,433 shares during the last quarter. Aurora Private Wealth Inc. acquired a new position in shares of Star Bulk Carriers during the 1st quarter valued at about $893,000. Northern Trust Corp lifted its holdings in shares of Star Bulk Carriers by 21.1% during the 4th quarter. Northern Trust Corp now owns 93,352 shares of the shipping company's stock worth $1,396,000 after acquiring an additional 16,287 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Star Bulk Carriers by 1,456.0% during the 1st quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company's stock worth $48,000 after acquiring an additional 2,912 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Star Bulk Carriers in the fourth quarter worth approximately $477,000. Hedge funds and other institutional investors own 33.91% of the company's stock.

Analyst Ratings Changes

SBLK has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and set a $22.00 price target on shares of Star Bulk Carriers in a research report on Thursday, August 7th. Zacks Research upgraded Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Wall Street Zen raised Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Star Bulk Carriers presently has a consensus rating of "Hold" and a consensus target price of $21.07.

Star Bulk Carriers Price Performance

SBLK opened at $19.21 on Friday. Star Bulk Carriers Corp. has a 52-week low of $12.06 and a 52-week high of $23.82. The company has a 50 day moving average of $18.77 and a two-hundred day moving average of $16.78. The company has a market cap of $2.26 billion, a P/E ratio of 18.30 and a beta of 0.97. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 0.40.

Star Bulk Carriers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Thursday, August 28th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, August 28th. Star Bulk Carriers's dividend payout ratio is currently 19.05%.

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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