Grand Alliance Asset Management Ltd boosted its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 37.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 740,000 shares of the shipping company's stock after purchasing an additional 200,000 shares during the period. Star Bulk Carriers comprises 12.2% of Grand Alliance Asset Management Ltd's holdings, making the stock its 3rd largest position. Grand Alliance Asset Management Ltd owned about 0.88% of Star Bulk Carriers worth $11,063,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Amundi increased its holdings in shares of Star Bulk Carriers by 48.9% during the fourth quarter. Amundi now owns 1,174,566 shares of the shipping company's stock worth $17,454,000 after purchasing an additional 385,980 shares during the period. Geode Capital Management LLC lifted its stake in Star Bulk Carriers by 22.8% during the fourth quarter. Geode Capital Management LLC now owns 561,713 shares of the shipping company's stock worth $8,398,000 after purchasing an additional 104,439 shares during the last quarter. Barclays PLC boosted its holdings in shares of Star Bulk Carriers by 7,313.4% in the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock valued at $10,784,000 after purchasing an additional 449,113 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Star Bulk Carriers by 8.2% in the 4th quarter. Russell Investments Group Ltd. now owns 329,342 shares of the shipping company's stock valued at $4,924,000 after purchasing an additional 24,835 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Star Bulk Carriers during the 4th quarter worth $3,530,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.
Star Bulk Carriers Trading Up 0.3 %
Shares of NASDAQ SBLK traded up $0.05 during trading on Wednesday, reaching $14.74. The company had a trading volume of 484,574 shares, compared to its average volume of 1,848,429. The company's fifty day moving average price is $15.06 and its 200-day moving average price is $16.24. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $27.47. The stock has a market cap of $1.73 billion, a P/E ratio of 5.14 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.08). Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The company had revenue of $308.92 million during the quarter, compared to the consensus estimate of $230.91 million. As a group, research analysts expect that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.
Star Bulk Carriers Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.36 annualized dividend and a dividend yield of 2.44%. Star Bulk Carriers's payout ratio is 12.54%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. StockNews.com cut Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Jefferies Financial Group lowered their price target on 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Star Bulk Carriers has a consensus rating of "Hold" and an average price target of $22.05.
View Our Latest Stock Report on SBLK
About Star Bulk Carriers
(
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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