Goldman Sachs Group Inc. Has $1.47 Million Stake in Star Bulk Carriers Corp. $SBLK

Key Points

• Goldman Sachs Group Inc. reduced its stake in Star Bulk Carriers by 19.5%, selling 22,815 shares and now owning approximately 0.08% of the company.
• Amundi and UBS Asset Management significantly increased their positions in Star Bulk Carriers, with Amundi boosting its stake by 59.1% and UBS by 59.7% in the first quarter.
• Star Bulk Carriers announced a quarterly dividend of $0.05 per share, resulting in an annualized yield of 1.0% with a payout ratio of 19.05%.

Goldman Sachs Group Inc. trimmed its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 19.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,455 shares of the shipping company's stock after selling 22,815 shares during the period. Goldman Sachs Group Inc. owned approximately 0.08% of Star Bulk Carriers worth $1,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sowell Financial Services LLC raised its holdings in Star Bulk Carriers by 2.4% during the first quarter. Sowell Financial Services LLC now owns 61,909 shares of the shipping company's stock worth $963,000 after acquiring an additional 1,466 shares in the last quarter. Sigma Planning Corp raised its holdings in Star Bulk Carriers by 6.8% during the first quarter. Sigma Planning Corp now owns 24,009 shares of the shipping company's stock worth $374,000 after acquiring an additional 1,527 shares in the last quarter. Blue Trust Inc. raised its holdings in Star Bulk Carriers by 5.9% during the first quarter. Blue Trust Inc. now owns 33,440 shares of the shipping company's stock worth $520,000 after acquiring an additional 1,875 shares in the last quarter. Mountain Hill Investment Partners Corp. raised its holdings in Star Bulk Carriers by 66.7% during the first quarter. Mountain Hill Investment Partners Corp. now owns 5,000 shares of the shipping company's stock worth $78,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in Star Bulk Carriers by 11.2% during the first quarter. Apollon Wealth Management LLC now owns 23,355 shares of the shipping company's stock worth $363,000 after acquiring an additional 2,351 shares in the last quarter. Institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Stock Performance

NASDAQ SBLK traded up $0.57 during trading on Tuesday, reaching $19.71. 443,232 shares of the company's stock were exchanged, compared to its average volume of 1,646,316. The business has a 50 day moving average price of $18.94 and a 200-day moving average price of $16.96. The stock has a market capitalization of $2.32 billion, a P/E ratio of 18.77 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.42. Star Bulk Carriers Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $23.82.

Star Bulk Carriers Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Zacks Research upgraded Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $22.00 target price on shares of Star Bulk Carriers in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Star Bulk Carriers has a consensus rating of "Hold" and a consensus price target of $21.07.

Star Bulk Carriers Company 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.