Two Sigma Investments LP lessened its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 53.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 989,218 shares of the shipping company's stock after selling 1,158,252 shares during the period. Two Sigma Investments LP owned approximately 1.18% of Star Bulk Carriers worth $14,789,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Barclays PLC increased its position in Star Bulk Carriers by 7,313.4% during the third quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock valued at $10,784,000 after acquiring an additional 449,113 shares during the last quarter. Praetorian PR LLC bought a new position in Star Bulk Carriers during the fourth quarter valued at $6,267,000. Amundi increased its position in Star Bulk Carriers by 48.9% during the fourth quarter. Amundi now owns 1,174,566 shares of the shipping company's stock valued at $17,454,000 after acquiring an additional 385,980 shares during the last quarter. Norges Bank bought a new position in Star Bulk Carriers during the fourth quarter valued at $3,530,000. Finally, Millennium Management LLC increased its position in Star Bulk Carriers by 97.2% during the fourth quarter. Millennium Management LLC now owns 436,244 shares of the shipping company's stock valued at $6,522,000 after acquiring an additional 215,074 shares during the last quarter. Institutional investors own 33.91% of the company's stock.
Star Bulk Carriers Stock Down 0.2%
Shares of SBLK stock traded down $0.04 during mid-day trading on Wednesday, hitting $16.01. 163,053 shares of the stock traded hands, compared to its average volume of 1,811,902. The stock has a market cap of $1.88 billion, a P/E ratio of 5.57 and a beta of 0.89. The stock's fifty day moving average is $14.98 and its two-hundred day moving average is $15.70. Star Bulk Carriers Corp. has a 52-week low of $12.06 and a 52-week high of $27.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The shipping company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.21. The business had revenue of $159.28 million during the quarter, compared to analyst estimates of $162.57 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. During the same period in the prior year, the firm posted $0.87 earnings per share. Equities analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.
Star Bulk Carriers Announces Dividend
The business also recently disclosed a dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, June 6th. Star Bulk Carriers's dividend payout ratio (DPR) is currently 10.10%.
Analyst Upgrades and Downgrades
Separately, Jefferies Financial Group lowered 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 research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Star Bulk Carriers has an average rating of "Hold" and an average target price of $22.05.
Read Our Latest Stock Analysis on SBLK
About Star Bulk Carriers
(
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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