Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Sunday.
Star Bulk Carriers Stock Up 0.9%
Star Bulk Carriers stock traded up $0.15 during midday trading on Friday, reaching $17.12. The stock had a trading volume of 3,424,317 shares, compared to its average volume of 1,796,367. The stock has a market capitalization of $2.01 billion, a P/E ratio of 8.65 and a beta of 0.95. The firm's fifty day simple moving average is $15.77 and its 200-day simple moving average is $15.44. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.47 and a current ratio of 1.65. Star Bulk Carriers has a 1-year low of $12.06 and a 1-year high of $25.25.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.21. The company had revenue of $159.28 million during the quarter, compared to analysts' expectations of $162.57 million. Star Bulk Carriers had a net margin of 18.62% and a return on equity of 8.20%. During the same period last year, the business earned $0.87 EPS. As a group, analysts expect that Star Bulk Carriers will post 1.74 EPS for the current fiscal year.
Hedge Funds Weigh In On Star Bulk Carriers
A number of large investors have recently modified their holdings of SBLK. Intrua Financial LLC raised its holdings in Star Bulk Carriers by 49.0% during the first quarter. Intrua Financial LLC now owns 15,200 shares of the shipping company's stock worth $237,000 after acquiring an additional 5,000 shares in the last quarter. Focus Partners Wealth grew its stake in Star Bulk Carriers by 56.0% in the first quarter. Focus Partners Wealth now owns 938,208 shares of the shipping company's stock valued at $14,599,000 after purchasing an additional 336,873 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Star Bulk Carriers by 59.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company's stock worth $20,204,000 after purchasing an additional 485,436 shares during the last quarter. Philosophy Capital Management LLC raised its stake in shares of Star Bulk Carriers by 10.1% during the 1st quarter. Philosophy Capital Management LLC now owns 1,519,259 shares of the shipping company's stock worth $23,640,000 after purchasing an additional 139,930 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Star Bulk Carriers during the 1st quarter worth approximately $10,734,000. 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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