Star Bulk Carriers Corp. $SBLK Shares Sold by Golden State Wealth Management LLC

Golden State Wealth Management LLC lowered its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 89.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,626 shares of the shipping company’s stock after selling 21,992 shares during the quarter. Golden State Wealth Management LLC’s holdings in Star Bulk Carriers were worth $49,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SBLK. Tower Research Capital LLC TRC lifted its stake in Star Bulk Carriers by 135.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the shipping company’s stock worth $42,000 after purchasing an additional 1,391 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Star Bulk Carriers by 34.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,402 shares of the shipping company’s stock valued at $59,000 after purchasing an additional 864 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in Star Bulk Carriers in the third quarter valued at $111,000. State of Alaska Department of Revenue acquired a new stake in shares of Star Bulk Carriers during the 3rd quarter worth about $121,000. Finally, Financial Gravity Companies Inc. acquired a new stake in Star Bulk Carriers during the second quarter worth approximately $139,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Analysts Set New Price Targets

SBLK has been the subject of several research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 19th. Zacks Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Star Bulk Carriers has a consensus rating of “Buy” and a consensus target price of $22.00.

Star Bulk Carriers Trading Up 0.2%

NASDAQ:SBLK opened at $22.95 on Friday. The firm has a market capitalization of $2.70 billion, a PE ratio of 44.14 and a beta of 0.75. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $23.26. The business’s 50-day moving average is $19.98 and its two-hundred day moving average is $19.14.

Star Bulk Carriers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Friday, December 5th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.9%. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, December 5th. Star Bulk Carriers’s payout ratio is presently 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.