Sowell Financial Services LLC lifted its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK – Free Report) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,909 shares of the shipping company’s stock after purchasing an additional 1,466 shares during the quarter. Sowell Financial Services LLC’s holdings in Star Bulk Carriers were worth $963,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of SBLK. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Star Bulk Carriers during the 4th quarter valued at $28,000. Parkside Financial Bank & Trust purchased a new position in Star Bulk Carriers during the 4th quarter valued at $30,000. Capital Analysts LLC boosted its holdings in Star Bulk Carriers by 215.9% during the 4th quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 1,561 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Star Bulk Carriers by 177.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company’s stock valued at $39,000 after acquiring an additional 1,676 shares during the period. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Star Bulk Carriers during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Jefferies Financial Group dropped their price objective on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Wall Street Zen upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Saturday, June 14th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.05.
Star Bulk Carriers Price Performance
Shares of SBLK stock opened at $16.80 on Thursday. Star Bulk Carriers Corp. has a twelve month low of $12.06 and a twelve month high of $25.25. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 8.48 and a beta of 0.95. The stock has a fifty day simple moving average of $15.54 and a two-hundred day simple moving average of $15.45. The company has a current ratio of 1.65, a quick ratio of 1.47 and a debt-to-equity ratio of 0.42.
Star Bulk Carriers (NASDAQ:SBLK – Get Free Report) last issued its 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. Star Bulk Carriers had a return on equity of 8.20% and a net margin of 18.62%. The business had revenue of $159.28 million during the quarter, compared to analysts’ expectations of $162.57 million. During the same period in the prior year, the business earned $0.87 EPS. On average, analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.
Star Bulk Carriers Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, June 6th. Star Bulk Carriers’s dividend payout ratio is 10.10%.
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.
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