Two Sigma Investments LP Sells 1,158,252 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Two Sigma Investments LP lessened its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 53.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 989,218 shares of the shipping company's stock after selling 1,158,252 shares during the quarter. Two Sigma Investments LP owned 1.18% of Star Bulk Carriers worth $14,789,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Star Bulk Carriers in the fourth quarter valued at about $28,000. Parkside Financial Bank & Trust bought a new stake in shares of Star Bulk Carriers during the 4th quarter valued at about $30,000. Capital Analysts LLC boosted its stake in Star Bulk Carriers by 215.9% during the fourth 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 boosted its stake in Star Bulk Carriers by 177.0% during the fourth 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. bought a new stake in Star Bulk Carriers during the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Stock Performance

Shares of SBLK traded up $0.19 during mid-day trading on Friday, 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 stock has a 50-day moving average price of $15.02 and a two-hundred day moving average price of $15.76. Star Bulk Carriers Corp. has a 1 year low of $12.06 and a 1 year high of $27.47. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 5.64 and a beta of 0.89.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.21. The company 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 previous year, the business posted $0.87 earnings per share. Equities analysts anticipate that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, June 6th. Star Bulk Carriers's dividend payout ratio (DPR) is 10.10%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group decreased 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.05.

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.