River & Mercantile Asset Management LLP decreased its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 37.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,038 shares of the shipping company’s stock after selling 136,208 shares during the period. River & Mercantile Asset Management LLP owned approximately 0.33% of Star Bulk Carriers worth $3,223,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. WealthTrust Axiom LLC bought a new stake in shares of Star Bulk Carriers during the 3rd quarter valued at about $144,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Star Bulk Carriers during the 2nd quarter valued at about $142,000. Virtu Financial LLC bought a new stake in shares of Star Bulk Carriers during the 3rd quarter valued at about $190,000. Jefferies Group LLC bought a new stake in shares of Star Bulk Carriers during the 3rd quarter valued at about $220,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Star Bulk Carriers during the 3rd quarter valued at about $285,000. 77.91% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on SBLK. Zacks Investment Research lowered shares of Star Bulk Carriers from a “hold” rating to a “strong sell” rating in a research note on Friday, November 30th. BidaskClub lowered shares of Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 15th. Seaport Global Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Star Bulk Carriers in a research note on Sunday, August 12th. ValuEngine lowered shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Finally, Deutsche Bank set a $17.00 price target on shares of Star Bulk Carriers and gave the company a “buy” rating in a research report on Thursday, November 8th. Three equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $16.71.
Shares of NASDAQ SBLK opened at $9.47 on Friday. Star Bulk Carriers Corp. has a 1 year low of $7.99 and a 1 year high of $15.38. The stock has a market cap of $630.79 million, a P/E ratio of -43.05 and a beta of 2.48. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.59 and a quick ratio of 1.46.
Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings results on Tuesday, November 20th. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Star Bulk Carriers had a net margin of 12.83% and a return on equity of 6.91%. The business had revenue of $188.47 million for the quarter, compared to analysts’ expectations of $194.27 million. As a group, research analysts forecast that Star Bulk Carriers Corp. will post 0.94 earnings per share for the current fiscal year.
Star Bulk Carriers Company Profile
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of October 10, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.
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