UBS Group AG Has $17.61 Million Holdings in Star Bulk Carriers Corp. $SBLK

Key Points

• UBS Group AG sharply reduced its position in Star Bulk Carriers by 49.4% in the fourth quarter, though it still held 915,978 shares valued at about $17.6 million.
• Analyst sentiment appears constructive: Jefferies initiated coverage with a Buy rating and a $29 price target, while Wall Street Zen and Zacks both upgraded the stock to Strong Buy. The overall consensus rating is Buy.
• Star Bulk Carriers recently beat earnings expectations, reporting $0.62 EPS versus the $0.52 estimate, and it also raised its quarterly dividend to $0.37 per share, implying a 5.4% yield.

UBS Group AG cut its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 49.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 915,978 shares of the shipping company's stock after selling 893,724 shares during the period. UBS Group AG owned approximately 0.78% of Star Bulk Carriers worth $17,605,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in shares of Star Bulk Carriers by 4.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 13,695 shares of the shipping company's stock worth $236,000 after buying an additional 616 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Star Bulk Carriers by 20.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,114 shares of the shipping company's stock worth $76,000 after buying an additional 712 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Star Bulk Carriers by 50.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,381 shares of the shipping company's stock worth $46,000 after buying an additional 802 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of Star Bulk Carriers by 5.6% during the 3rd quarter. Vident Advisory LLC now owns 16,902 shares of the shipping company's stock worth $314,000 after buying an additional 891 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Star Bulk Carriers by 141.7% during the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company's stock worth $32,000 after buying an additional 1,022 shares during the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Star Bulk Carriers in a research note on Friday, March 27th. Jefferies Financial Group assumed coverage on shares of Star Bulk Carriers in a research note on Friday, April 24th. They set a "buy" rating and a $29.00 price objective for the company. Wall Street Zen upgraded shares of Star Bulk Carriers from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 18th. Finally, Zacks Research upgraded shares of Star Bulk Carriers from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $29.00.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK opened at $27.34 on Wednesday. The business's 50 day moving average price is $24.24 and its two-hundred day moving average price is $21.83. The company has a market cap of $3.10 billion, a PE ratio of 37.45 and a beta of 0.71. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.34. Star Bulk Carriers Corp. has a twelve month low of $15.78 and a twelve month high of $27.41.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.10. The firm had revenue of $230.79 million for the quarter, compared to the consensus estimate of $250.51 million. Star Bulk Carriers had a return on equity of 3.89% and a net margin of 8.07%. On average, analysts predict that Star Bulk Carriers Corp. will post 3.85 EPS for the current year.

Star Bulk Carriers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.4%. This is a boost from Star Bulk Carriers's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, March 9th. Star Bulk Carriers's dividend payout ratio (DPR) is presently 202.74%.

Insiders Place Their Bets

In other Star Bulk Carriers news, COO Nikolaos Reskos sold 8,406 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $25.05, for a total transaction of $210,570.30. Following the transaction, the chief operating officer owned 440,878 shares of the company's stock, valued at $11,043,993.90. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company's vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.

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