Praetorian PR LLC Acquires New Shares in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Praetorian PR LLC bought a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 419,174 shares of the shipping company's stock, valued at approximately $6,267,000. Star Bulk Carriers accounts for approximately 2.5% of Praetorian PR LLC's holdings, making the stock its 10th largest holding. Praetorian PR LLC owned about 0.50% of Star Bulk Carriers at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its position 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 worth $10,784,000 after purchasing an additional 449,113 shares during the period. Adams Asset Advisors LLC bought a new position in shares of Star Bulk Carriers in the 4th quarter worth about $1,495,000. Avior Wealth Management LLC lifted its stake in shares of Star Bulk Carriers by 110.0% in the 4th quarter. Avior Wealth Management LLC now owns 13,947 shares of the shipping company's stock valued at $209,000 after purchasing an additional 7,306 shares during the period. Blue Trust Inc. boosted its position in shares of Star Bulk Carriers by 51.3% during the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock valued at $46,000 after purchasing an additional 1,038 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in Star Bulk Carriers by 8.3% during the fourth quarter. DAVENPORT & Co LLC now owns 14,129 shares of the shipping company's stock worth $211,000 after purchasing an additional 1,083 shares during the period. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Stock Down 0.7 %

SBLK stock traded down $0.10 during midday trading on Tuesday, reaching $14.98. 1,055,571 shares of the company's stock traded hands, compared to its average volume of 1,842,865. Star Bulk Carriers Corp. has a 52 week low of $12.06 and a 52 week high of $27.47. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 5.22 and a beta of 0.89. The firm's fifty day moving average price is $15.01 and its 200-day moving average price is $16.06. 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.08). The company had revenue of $308.92 million for the quarter, compared to analyst estimates of $230.91 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. As a group, sell-side analysts forecast that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Tuesday, March 4th. Star Bulk Carriers's payout ratio is currently 12.54%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SBLK shares. StockNews.com cut Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Jefferies Financial Group decreased their price target on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Star Bulk Carriers has a consensus rating of "Hold" and a consensus target price of $22.05.

About Star Bulk Carriers

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.