Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $17.69, but opened at $17.10. Star Bulk Carriers shares last traded at $17.47, with a volume of 793,147 shares changing hands.
Analysts Set New Price Targets
SBLK has been the topic of several recent research reports. Wall Street Zen upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Jefferies Financial Group reissued a "buy" rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a research report on Thursday, August 7th. Zacks Research raised shares of Star Bulk Carriers from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Star Bulk Carriers in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.07.
Check Out Our Latest Research Report on SBLK
Star Bulk Carriers Trading Down 3.7%
The stock has a market capitalization of $2.00 billion, a P/E ratio of 16.25 and a beta of 0.95. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 0.40. The stock's 50 day moving average price is $18.98 and its 200-day moving average price is $17.16.
Star Bulk Carriers Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Thursday, August 28th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, August 28th. Star Bulk Carriers's dividend payout ratio (DPR) is 19.05%.
Institutional Investors Weigh In On Star Bulk Carriers
Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in shares of Star Bulk Carriers by 135.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the shipping company's stock worth $42,000 after buying an additional 1,391 shares during the period. GAMMA Investing LLC lifted its stake in shares of Star Bulk Carriers by 1,456.0% during the first quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company's stock worth $48,000 after buying an additional 2,912 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Star Bulk Carriers by 34.0% during the second quarter. Public Employees Retirement System of Ohio now owns 3,402 shares of the shipping company's stock worth $59,000 after buying an additional 864 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Star Bulk Carriers during the first quarter worth $67,000. Finally, Mountain Hill Investment Partners Corp. lifted its stake in shares of Star Bulk Carriers by 66.7% during the first quarter. Mountain Hill Investment Partners Corp. now owns 5,000 shares of the shipping company's stock worth $78,000 after buying an additional 2,000 shares during the period. 33.91% of the stock is currently owned by institutional investors and hedge funds.
About Star Bulk Carriers
(
Get Free Report)
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.
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