Mariner LLC Acquires 36,186 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Mariner LLC increased its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 290.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,637 shares of the shipping company's stock after buying an additional 36,186 shares during the quarter. Mariner LLC owned about 0.06% of Star Bulk Carriers worth $727,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC increased its holdings 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 in the last quarter. Amundi lifted its holdings in 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 acquiring an additional 385,980 shares during the period. Geode Capital Management LLC increased its position in shares of Star Bulk Carriers by 359.3% during the 3rd quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company's stock valued at $10,833,000 after purchasing an additional 357,720 shares during the last quarter. Norges Bank purchased a new stake in Star Bulk Carriers during the fourth quarter worth about $3,530,000. Finally, Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Star Bulk Carriers during the 4th quarter worth approximately $2,743,000. Institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK traded up $0.11 during mid-day trading on Monday, reaching $15.14. 101,247 shares of the company were exchanged, compared to its average volume of 1,844,354. The company's 50 day moving average price is $15.02 and its 200 day moving average price is $16.10. Star Bulk Carriers Corp. has a 52 week low of $12.06 and a 52 week 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 stock has a market capitalization of $1.78 billion, a PE ratio of 5.25 and a beta of 0.89.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.08). Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. The firm had revenue of $308.92 million during the quarter, compared to analysts' expectations of $230.91 million. 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 announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Tuesday, March 4th. Star Bulk Carriers's dividend payout ratio (DPR) is presently 12.54%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a research report 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 research note on Wednesday, February 19th. Three 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, Star Bulk Carriers has an average rating of "Hold" and an average price target 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.