Wexford Capital LP lowered its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 49.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 221,878 shares of the shipping company's stock after selling 217,088 shares during the quarter. Wexford Capital LP owned about 0.26% of Star Bulk Carriers worth $3,317,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Star Bulk Carriers in the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust acquired a new stake in shares of Star Bulk Carriers in the fourth quarter valued at approximately $30,000. Capital Analysts LLC raised its holdings 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 during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Star Bulk Carriers by 177.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock valued at $39,000 after purchasing an additional 1,676 shares during the last quarter. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Star Bulk Carriers during the fourth quarter worth $45,000. Institutional investors own 33.91% of the company's stock.
Star Bulk Carriers Stock Performance
Shares of NASDAQ:SBLK traded up $0.19 on Friday, hitting $16.18. The company had a trading volume of 1,039,106 shares, compared to its average volume of 1,821,931. The stock has a 50 day moving average price of $15.02 and a 200 day moving average price of $15.78. 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 Corp. has a 1-year low of $12.06 and a 1-year high of $27.47. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.21. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The business had revenue of $159.28 million during the quarter, compared to analysts' expectations of $162.57 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. Analysts expect that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.
Star Bulk Carriers Dividend Announcement
The firm also recently announced a dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, June 6th. Star Bulk Carriers's payout ratio is 10.10%.
Analyst Ratings Changes
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 on the stock in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $22.05.
Check Out Our Latest Report on SBLK
Star Bulk Carriers Profile
(
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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