Susquehanna Fundamental Investments LLC Makes New $1.18 Million Investment in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Susquehanna Fundamental Investments LLC purchased a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 78,573 shares of the shipping company's stock, valued at approximately $1,175,000. Susquehanna Fundamental Investments LLC owned about 0.09% of Star Bulk Carriers at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SBLK. Barclays PLC raised its holdings in Star Bulk Carriers by 7,313.4% in the third 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 during the period. Adams Asset Advisors LLC bought a new stake in shares of Star Bulk Carriers in the 4th quarter valued at $1,495,000. Avior Wealth Management LLC raised its stake in Star Bulk Carriers by 110.0% during the 4th quarter. Avior Wealth Management LLC now owns 13,947 shares of the shipping company's stock worth $209,000 after buying an additional 7,306 shares during the period. Blue Trust Inc. grew its stake in Star Bulk Carriers by 51.3% in the fourth quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock valued at $46,000 after acquiring an additional 1,038 shares during the period. Finally, DAVENPORT & Co LLC grew its stake in Star Bulk Carriers by 8.3% in the fourth quarter. DAVENPORT & Co LLC now owns 14,129 shares of the shipping company's stock valued at $211,000 after acquiring an additional 1,083 shares during the period. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Stock Down 0.4 %

Star Bulk Carriers stock traded down $0.07 during midday trading on Wednesday, reaching $14.92. The stock had a trading volume of 82,760 shares, compared to its average volume of 1,836,589. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $27.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. The firm's fifty day simple moving average is $15.00 and its 200-day simple moving average is $16.05. The stock has a market capitalization of $1.75 billion, a P/E ratio of 5.18 and a beta of 0.89.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $308.92 million during the quarter, compared to the consensus estimate of $230.91 million. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Tuesday, March 4th. Star Bulk Carriers's dividend payout ratio is currently 12.54%.

Analyst Ratings Changes

Several research firms have recently weighed in on SBLK. Jefferies Financial Group cut their price objective 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 cut shares of Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.