Tower Research Capital LLC TRC Cuts Stock Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Tower Research Capital LLC TRC lessened its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 86.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,885 shares of the shipping company's stock after selling 18,552 shares during the quarter. Tower Research Capital LLC TRC's holdings in Star Bulk Carriers were worth $43,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBLK. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Star Bulk Carriers in the 4th quarter worth $28,000. Parkside Financial Bank & Trust purchased a new stake in Star Bulk Carriers in the 4th quarter worth $30,000. Steward Partners Investment Advisory LLC increased its holdings in Star Bulk Carriers by 177.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock worth $39,000 after acquiring an additional 1,676 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in Star Bulk Carriers in the 4th quarter worth $45,000. Finally, Blue Trust Inc. increased its holdings in Star Bulk Carriers by 51.3% in the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock worth $46,000 after acquiring an additional 1,038 shares in the last quarter. Hedge funds and other institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Trading Up 1.4%

Shares of SBLK opened at $16.43 on Wednesday. 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 firm's fifty day moving average is $15.02 and its two-hundred day moving average is $15.92. The stock has a market cap of $1.93 billion, a PE ratio of 5.72 and a beta of 0.89.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share 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 analyst estimates of $230.91 million. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. Research 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 company also recently declared 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. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.36 annualized dividend and a dividend yield of 2.19%. Star Bulk Carriers's payout ratio is 12.54%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Jefferies Financial Group cut their price target on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating for the company 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 research note on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Star Bulk Carriers has a consensus rating of "Hold" and an average target price 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.

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