Squarepoint Ops LLC Reduces Stake in Star Bulk Carriers Corp. $SBLK

Squarepoint Ops LLC lessened its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 51.9% in the second quarter, Holdings Channel reports. The institutional investor owned 43,551 shares of the shipping company’s stock after selling 47,018 shares during the quarter. Squarepoint Ops LLC’s holdings in Star Bulk Carriers were worth $751,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SBLK. Vident Advisory LLC lifted its stake in Star Bulk Carriers by 253.1% in the 1st quarter. Vident Advisory LLC now owns 78,017 shares of the shipping company’s stock worth $1,214,000 after purchasing an additional 55,923 shares in the last quarter. Grand Alliance Asset Management Ltd boosted its stake in Star Bulk Carriers by 5.4% during the first quarter. Grand Alliance Asset Management Ltd now owns 780,000 shares of the shipping company’s stock valued at $12,137,000 after buying an additional 40,000 shares during the period. Graham Capital Management L.P. purchased a new position in Star Bulk Carriers during the first quarter worth about $528,000. Royal Bank of Canada increased its stake in Star Bulk Carriers by 94.3% in the 1st quarter. Royal Bank of Canada now owns 117,275 shares of the shipping company’s stock worth $1,825,000 after acquiring an additional 56,930 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in Star Bulk Carriers in the 1st quarter worth about $4,668,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBLK. Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Monday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.00.

Star Bulk Carriers Price Performance

Shares of Star Bulk Carriers stock opened at $18.89 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.22 billion, a PE ratio of 36.33 and a beta of 0.75. The business’s 50-day moving average price is $18.76 and its 200-day moving average price is $18.53. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $20.87.

Star Bulk Carriers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Friday, December 5th were given a dividend of $0.11 per share. The ex-dividend date was Friday, December 5th. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.05. This represents a $0.44 dividend on an annualized basis and a yield of 2.3%. Star Bulk Carriers’s dividend payout ratio (DPR) is 84.62%.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.