Jump Financial LLC Reduces Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Jump Financial LLC lowered its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 63.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,246 shares of the shipping company's stock after selling 170,332 shares during the period. Jump Financial LLC owned approximately 0.12% of Star Bulk Carriers worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Guggenheim Capital LLC purchased a new stake in Star Bulk Carriers in the fourth quarter valued at $155,000. XTX Topco Ltd purchased a new position in Star Bulk Carriers during the fourth quarter worth about $532,000. Mariner LLC increased its position in shares of Star Bulk Carriers by 290.6% during the fourth quarter. Mariner LLC now owns 48,637 shares of the shipping company's stock valued at $727,000 after acquiring an additional 36,186 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Star Bulk Carriers in the 4th quarter worth approximately $970,000. Finally, Advisory Services Network LLC increased its holdings in Star Bulk Carriers by 131.6% in the 4th quarter. Advisory Services Network LLC now owns 23,526 shares of the shipping company's stock valued at $352,000 after purchasing an additional 13,370 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Stock Up 0.9 %

NASDAQ:SBLK traded up $0.13 during mid-day trading on Friday, hitting $14.58. The stock had a trading volume of 314,411 shares, compared to its average volume of 1,852,384. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. Star Bulk Carriers Corp. has a twelve month low of $12.06 and a twelve month high of $27.47. The company has a market capitalization of $1.72 billion, a PE ratio of 5.08 and a beta of 0.77. The stock has a 50-day simple moving average of $15.13 and a two-hundred day simple moving average of $16.42.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $308.92 million for the quarter, compared to analysts' expectations of $230.91 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. On average, equities research analysts anticipate that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Tuesday, March 4th. Star Bulk Carriers's dividend payout ratio (DPR) is presently 12.54%.

Analyst Ratings Changes

Several research firms recently issued reports on SBLK. StockNews.com downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Jefferies Financial Group cut 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average 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.