Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Bought by Mariner LLC

Mariner LLC lifted its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 290.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,637 shares of the shipping company’s stock after buying an additional 36,186 shares during the period. Mariner LLC’s holdings in Star Bulk Carriers were worth $727,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its stake in Star Bulk Carriers by 4.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 18,422 shares of the shipping company’s stock valued at $275,000 after acquiring an additional 826 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Star Bulk Carriers by 51.3% during the fourth quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 1,038 shares during the period. Sigma Planning Corp raised its stake in shares of Star Bulk Carriers by 4.9% during the fourth quarter. Sigma Planning Corp now owns 22,482 shares of the shipping company’s stock valued at $336,000 after purchasing an additional 1,060 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings 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 worth $211,000 after purchasing an additional 1,083 shares during the period. Finally, Guidance Capital Inc. grew its position in Star Bulk Carriers by 6.1% in the 4th quarter. Guidance Capital Inc. now owns 25,103 shares of the shipping company’s stock valued at $372,000 after buying an additional 1,434 shares in the last quarter. 33.91% of the stock is owned by institutional investors.

Star Bulk Carriers Stock Up 0.3 %

Shares of Star Bulk Carriers stock opened at $14.69 on Wednesday. Star Bulk Carriers Corp. has a 12-month low of $12.06 and a 12-month high of $27.47. The firm has a market capitalization of $1.73 billion, a PE ratio of 5.12 and a beta of 0.77. 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 stock’s fifty day moving average is $15.06 and its 200-day moving average is $16.24.

Star Bulk Carriers (NASDAQ:SBLK) last posted 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). Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. The company had revenue of $308.92 million for the quarter, compared to analyst estimates of $230.91 million. Equities analysts anticipate that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Tuesday, March 4th. Star Bulk Carriers’s dividend payout ratio is 12.54%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SBLK shares. StockNews.com lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Jefferies Financial Group decreased their price target on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.