Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Purchased by Amundi

Amundi boosted its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 48.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,174,566 shares of the shipping company’s stock after purchasing an additional 385,980 shares during the period. Amundi owned approximately 1.40% of Star Bulk Carriers worth $17,454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AM Squared Ltd acquired a new stake in shares of Star Bulk Carriers during the 3rd quarter worth approximately $76,000. Avior Wealth Management LLC grew its position in Star Bulk Carriers by 26.4% in the third quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company’s stock worth $157,000 after acquiring an additional 1,385 shares during the period. Moors & Cabot Inc. increased its stake in Star Bulk Carriers by 142.1% during the third quarter. Moors & Cabot Inc. now owns 35,396 shares of the shipping company’s stock worth $839,000 after acquiring an additional 20,775 shares during the last quarter. Navellier & Associates Inc. purchased a new stake in Star Bulk Carriers in the third quarter valued at $892,000. Finally, Larson Financial Group LLC lifted its stake in shares of Star Bulk Carriers by 696.9% in the 3rd quarter. Larson Financial Group LLC now owns 6,845 shares of the shipping company’s stock valued at $162,000 after purchasing an additional 5,986 shares during the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Price Performance

SBLK opened at $16.40 on Friday. The stock’s 50-day moving average price is $15.39 and its 200 day moving average price is $17.90. Star Bulk Carriers Corp. has a 12-month low of $14.30 and a 12-month high of $27.47. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 5.71 and a beta of 1.03. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings results 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). The business had revenue of $308.92 million for the quarter, compared to analyst estimates of $230.91 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. As a group, sell-side analysts expect that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.36 annualized dividend and a yield of 2.20%. Star Bulk Carriers’s dividend payout ratio is presently 12.54%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SBLK. Jefferies Financial Group reduced their price objective on shares of Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. DNB Markets upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and lifted their price target for the company from $19.30 to $20.20 in a research report on Thursday, November 21st. Finally, StockNews.com lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Star Bulk Carriers has an average rating of “Hold” and an average 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.