Invesco Ltd. decreased its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 20.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 159,907 shares of the shipping company's stock after selling 40,677 shares during the quarter. Invesco Ltd. owned about 0.14% of Star Bulk Carriers worth $2,488,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Star Bulk Carriers by 1,456.0% during the first quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company's stock worth $48,000 after buying an additional 2,912 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Star Bulk Carriers in the first quarter valued at $67,000. Mountain Hill Investment Partners Corp. raised its position in Star Bulk Carriers by 66.7% in the first quarter. Mountain Hill Investment Partners Corp. now owns 5,000 shares of the shipping company's stock valued at $78,000 after purchasing an additional 2,000 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in Star Bulk Carriers in the first quarter valued at $125,000. Finally, Man Group plc purchased a new stake in Star Bulk Carriers in the fourth quarter valued at $154,000. Hedge funds and other institutional investors own 33.91% of the company's stock.
Analysts Set New Price Targets
SBLK has been the topic of a number of research analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $22.00 target price on shares of Star Bulk Carriers in a research report on Thursday, August 7th. Wall Street Zen upgraded Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Zacks Research upgraded Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $22.30.
Read Our Latest Analysis on SBLK
Star Bulk Carriers Stock Performance
Shares of NASDAQ SBLK traded down $0.32 during trading hours on Monday, reaching $18.65. The stock had a trading volume of 2,497,557 shares, compared to its average volume of 1,039,200. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 17.76 and a beta of 0.97. The company has a current ratio of 1.61, a quick ratio of 1.42 and a debt-to-equity ratio of 0.40. Star Bulk Carriers Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $23.82. The firm has a 50-day moving average of $18.44 and a 200-day moving average of $16.57.
Star Bulk Carriers Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Thursday, August 28th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $0.20 annualized dividend and a yield of 1.1%. Star Bulk Carriers's dividend payout ratio is currently 19.05%.
Star Bulk Carriers Profile
(
Free Report)
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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