419,174 Shares in Star Bulk Carriers Corp. (NASDAQ:SBLK) Acquired by Praetorian PR LLC

Praetorian PR LLC bought a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 419,174 shares of the shipping company's stock, valued at approximately $6,267,000. Star Bulk Carriers accounts for about 2.5% of Praetorian PR LLC's investment portfolio, making the stock its 10th biggest position. Praetorian PR LLC owned approximately 0.50% of Star Bulk Carriers at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in Star Bulk Carriers by 7,313.4% during 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. Amundi boosted its stake 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 buying an additional 385,980 shares during the period. Norges Bank purchased a new position in shares of Star Bulk Carriers during the fourth quarter worth about $3,530,000. Grand Alliance Asset Management Ltd raised its stake in Star Bulk Carriers by 37.0% during the 4th quarter. Grand Alliance Asset Management Ltd now owns 740,000 shares of the shipping company's stock valued at $11,063,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC acquired a new stake in Star Bulk Carriers during the 4th quarter worth approximately $2,743,000. Institutional investors and hedge funds own 33.91% of the company's stock.

Analyst Ratings Changes

SBLK has been the subject of several analyst reports. StockNews.com cut Star Bulk Carriers from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $22.05.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK traded up $0.01 during midday trading on Wednesday, hitting $14.99. The company had a trading volume of 253,503 shares, compared to its average volume of 1,837,062. The business has a 50-day simple moving average of $15.00 and a two-hundred day simple moving average of $16.05. Star Bulk Carriers Corp. has a twelve month low of $12.06 and a twelve month high of $27.47. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 5.21 and a beta of 0.89.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.08). The business had revenue of $308.92 million during 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%. Equities research analysts anticipate that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Cuts Dividend

The business also recently disclosed 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. 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 dividend payout ratio is presently 12.54%.

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.