Vident Advisory LLC Has $1.21 Million Holdings in Star Bulk Carriers Corp. $SBLK

Key Points

• Vident Advisory LLC has increased its stake in Star Bulk Carriers Corp. by 253.1%, now owning 78,017 shares worth approximately $1.21 million.
• The company has announced a quarterly dividend of $0.05 to be paid on September 10th, with an annualized yield of 1.1%.
• Star Bulk Carriers holds a consensus "Hold" rating among analysts, with a price target range pointing towards a potential valuation of around $21.07 per share.

Vident Advisory LLC raised its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 253.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 78,017 shares of the shipping company's stock after purchasing an additional 55,923 shares during the quarter. Vident Advisory LLC owned 0.07% of Star Bulk Carriers worth $1,214,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valueworks LLC increased its position in Star Bulk Carriers by 6.6% in the first quarter. Valueworks LLC now owns 364,270 shares of the shipping company's stock worth $5,668,000 after purchasing an additional 22,545 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Star Bulk Carriers in the 1st quarter valued at approximately $67,000. Raiffeisen Bank International AG raised its position in shares of Star Bulk Carriers by 73.2% in the 1st quarter. Raiffeisen Bank International AG now owns 56,201 shares of the shipping company's stock valued at $898,000 after purchasing an additional 23,746 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of Star Bulk Carriers by 12.3% in the 1st quarter. Moors & Cabot Inc. now owns 51,275 shares of the shipping company's stock valued at $798,000 after purchasing an additional 5,629 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Star Bulk Carriers by 177.7% in the 1st quarter. GSA Capital Partners LLP now owns 160,378 shares of the shipping company's stock valued at $2,495,000 after purchasing an additional 102,619 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SBLK. Jefferies Financial Group reaffirmed a "buy" rating and set a $22.00 price objective on shares of Star Bulk Carriers in a research note on Thursday, August 7th. 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. Finally, Zacks Research raised shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $21.07.

Star Bulk Carriers Trading Up 0.7%

SBLK stock traded up $0.14 during midday trading on Tuesday, reaching $19.59. 596,097 shares of the company's stock traded hands, compared to its average volume of 1,662,836. The company has a market capitalization of $2.30 billion, a P/E ratio of 18.64 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.42. Star Bulk Carriers Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $23.82. The business has a 50-day moving average price of $18.64 and a two-hundred day moving average price of $16.69.

Star Bulk Carriers Announces Dividend

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

Star Bulk Carriers Company 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.