Two Sigma Advisers LP Sells 564,900 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Two Sigma Advisers LP cut its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 23.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,857,559 shares of the shipping company's stock after selling 564,900 shares during the period. Two Sigma Advisers LP owned approximately 2.21% of Star Bulk Carriers worth $27,771,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Star Bulk Carriers during the fourth quarter worth about $28,000. Parkside Financial Bank & Trust acquired a new position in Star Bulk Carriers during the 4th quarter worth approximately $30,000. Capital Analysts LLC grew its stake in shares of Star Bulk Carriers by 215.9% during the 4th quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock worth $34,000 after acquiring an additional 1,561 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Star Bulk Carriers by 177.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock worth $39,000 after acquiring an additional 1,676 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in shares of Star Bulk Carriers in the fourth quarter valued at approximately $45,000. Institutional investors own 33.91% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group reduced their target price on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $22.05.

Star Bulk Carriers Stock Up 1.2%

NASDAQ SBLK traded up $0.19 during trading hours on Monday, hitting $16.18. 1,039,106 shares of the company traded hands, compared to its average volume of 1,820,542. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. The business's 50-day moving average is $15.02 and its 200-day moving average is $15.73. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 5.64 and a beta of 0.89. Star Bulk Carriers Corp. has a twelve month low of $12.06 and a twelve month high of $27.47.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.21. The company had revenue of $159.28 million for the quarter, compared to analysts' expectations of $162.57 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. During the same quarter in the prior year, the business posted $0.87 EPS. Sell-side analysts anticipate that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 6th. Star Bulk Carriers's dividend payout ratio (DPR) is presently 10.10%.

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.