Star Bulk Carriers Corp. $SBLK Shares Sold by Jump Financial LLC

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 reduced its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 64.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,468 shares of the shipping company's stock after selling 62,778 shares during the quarter. Jump Financial LLC's holdings in Star Bulk Carriers were worth $536,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SBLK. Millennium Management LLC boosted its stake in shares of Star Bulk Carriers by 97.2% during the 4th quarter. Millennium Management LLC now owns 436,244 shares of the shipping company's stock worth $6,522,000 after acquiring an additional 215,074 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Star Bulk Carriers by 39,904.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 175,219 shares of the shipping company's stock worth $2,620,000 after acquiring an additional 174,781 shares in the last quarter. Encompass Capital Advisors LLC boosted its stake in shares of Star Bulk Carriers by 13.5% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,240,650 shares of the shipping company's stock worth $18,548,000 after acquiring an additional 147,659 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Star Bulk Carriers by 177.7% during the 1st quarter. GSA Capital Partners LLP now owns 160,378 shares of the shipping company's stock worth $2,495,000 after acquiring an additional 102,619 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Star Bulk Carriers by 12.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 813,000 shares of the shipping company's stock worth $12,154,000 after purchasing an additional 89,600 shares during the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SBLK has been the subject of several research analyst reports. 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. Zacks Research upgraded shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Jefferies Financial Group restated a "buy" rating and set a $22.00 price target on shares of Star Bulk Carriers in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $21.07.

Star Bulk Carriers Price Performance

SBLK stock traded up $0.03 during mid-day trading on Friday, reaching $19.14. The company's stock had a trading volume of 217,737 shares, compared to its average volume of 1,667,391. The stock has a market cap of $2.25 billion, a PE ratio of 18.24 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 company's 50 day moving average is $18.55 and its two-hundred day moving average is $16.62.

Star Bulk Carriers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Thursday, August 28th will be issued a $0.05 dividend. The ex-dividend date is Thursday, August 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. Star Bulk Carriers's dividend payout ratio is presently 19.05%.

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.