Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 39,904.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,219 shares of the shipping company's stock after purchasing an additional 174,781 shares during the period. Cubist Systematic Strategies LLC owned about 0.21% of Star Bulk Carriers worth $2,620,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SBLK. Sowell Financial Services LLC purchased a new position in shares of Star Bulk Carriers during the 4th quarter worth approximately $904,000. Barclays PLC grew its holdings in shares of 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 acquiring an additional 449,113 shares during the period. Blue Trust Inc. grew its holdings in shares of Star Bulk Carriers by 1,458.8% during the 4th quarter. Blue Trust Inc. now owns 31,565 shares of the shipping company's stock worth $472,000 after acquiring an additional 29,540 shares during the period. Mariner LLC grew its holdings in shares of Star Bulk Carriers by 290.6% during the 4th quarter. Mariner LLC now owns 48,637 shares of the shipping company's stock worth $727,000 after acquiring an additional 36,186 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Star Bulk Carriers during the 4th quarter worth approximately $970,000. Hedge funds and other institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Stock Performance

Shares of NASDAQ:SBLK traded down $0.37 during midday trading on Friday, hitting $16.44. The company had a trading volume of 805,107 shares, compared to its average volume of 1,820,646. Star Bulk Carriers Corp. has a 12-month low of $12.06 and a 12-month high of $27.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 5.73 and a beta of 0.89. The company has a fifty day moving average of $15.04 and a two-hundred day moving average of $15.91.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.21. The firm had revenue of $159.28 million during the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.87 earnings per share. On average, equities research analysts expect that Star Bulk Carriers Corp. will post 1.74 EPS 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. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Tuesday, March 4th. Star Bulk Carriers's dividend payout ratio is presently 12.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SBLK shares. Jefferies Financial Group reduced their target price on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. StockNews.com downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Star Bulk Carriers presently has a consensus rating of "Hold" and a consensus target price of $22.05.

Star Bulk Carriers 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.