Wexford Capital LP Lowers Stake in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Wexford Capital LP trimmed its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 49.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,878 shares of the shipping company's stock after selling 217,088 shares during the period. Wexford Capital LP owned 0.26% of Star Bulk Carriers worth $3,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SBLK. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Star Bulk Carriers during the 4th quarter worth about $28,000. Parkside Financial Bank & Trust purchased a new position in Star Bulk Carriers in the 4th quarter valued at about $30,000. Capital Analysts LLC grew its position in shares of Star Bulk Carriers by 215.9% in the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock valued at $34,000 after purchasing an additional 1,561 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings 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 during the period. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Star Bulk Carriers during the fourth quarter worth about $45,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Star Bulk Carriers Stock Performance

NASDAQ SBLK traded down $0.03 during trading on Thursday, reaching $15.99. The company's stock had a trading volume of 1,373,149 shares, compared to its average volume of 1,825,519. Star Bulk Carriers Corp. has a twelve month low of $12.06 and a twelve month high of $27.47. 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 fifty day moving average price is $15.04 and its 200-day moving average price is $15.83. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 5.57 and a beta of 0.89.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.21. The firm had revenue of $159.28 million during the quarter, compared to the consensus estimate 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 period last year, the business posted $0.87 EPS. As a group, analysts anticipate that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal 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 presently 10.10%.

Analyst Ratings Changes

A number of brokerages have weighed in on SBLK. Wall Street Zen cut shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Jefferies Financial Group decreased their price objective on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $22.05.

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.