Jump Financial LLC Sells 62,778 Shares of Star Bulk Carriers Corp. $SBLK

Key Points

• Jump Financial LLC reduced its stake in Star Bulk Carriers Corp. by 64.6%, owning 34,468 shares worth approximately $536,000 after selling 62,778 shares in Q1.
• Star Bulk Carriers announced a quarterly dividend of $0.05 per share, with an annualized yield of about 1.1%; the payout ratio currently stands at 19.05%.
• Analysts have generally upgraded their ratings on Star Bulk Carriers, with Zacks Research moving it from a "strong sell" to a "hold" while Jefferies maintains a "buy" rating with a price target of $22.00.

Jump Financial LLC cut its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 64.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,468 shares of the shipping company's stock after selling 62,778 shares during the period. Jump Financial LLC's holdings in Star Bulk Carriers were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Valueworks LLC increased its stake in shares of Star Bulk Carriers by 6.6% in the first quarter. Valueworks LLC now owns 364,270 shares of the shipping company's stock worth $5,668,000 after purchasing an additional 22,545 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Star Bulk Carriers in the first quarter worth $67,000. Raiffeisen Bank International AG increased its stake in shares of Star Bulk Carriers by 73.2% in the first quarter. Raiffeisen Bank International AG now owns 56,201 shares of the shipping company's stock worth $898,000 after purchasing an additional 23,746 shares in the last quarter. Moors & Cabot Inc. increased its stake in shares of Star Bulk Carriers by 12.3% in the first quarter. Moors & Cabot Inc. now owns 51,275 shares of the shipping company's stock worth $798,000 after purchasing an additional 5,629 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of Star Bulk Carriers by 177.7% in the first quarter. GSA Capital Partners LLP now owns 160,378 shares of the shipping company's stock worth $2,495,000 after purchasing an additional 102,619 shares in the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on SBLK. Zacks Research raised shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Wall Street Zen upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $22.00 price objective on shares of Star Bulk Carriers in a research report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $22.30.

Star Bulk Carriers Trading Down 0.1%

Shares of Star Bulk Carriers stock traded down $0.01 during trading on Tuesday, hitting $18.64. The stock had a trading volume of 855,939 shares, compared to its average volume of 1,007,088. The firm's fifty day simple moving average is $18.48 and its 200-day simple moving average is $16.58. The stock has a market cap of $2.19 billion, a PE ratio of 17.75 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 12 month low of $12.06 and a 12 month high of $23.82.

Star Bulk Carriers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Thursday, August 28th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, August 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. Star Bulk Carriers's dividend payout ratio (DPR) is presently 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.