Star Bulk Carriers Corp. $SBLK Shares Acquired by Rossby Financial LCC

Rossby Financial LCC lifted its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 20.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 15,000 shares of the shipping company’s stock after buying an additional 2,500 shares during the period. Rossby Financial LCC’s holdings in Star Bulk Carriers were worth $259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MQS Management LLC acquired a new position in shares of Star Bulk Carriers during the 2nd quarter valued at $535,000. Allianz Asset Management GmbH lifted its holdings in shares of Star Bulk Carriers by 54.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 484,491 shares of the shipping company’s stock valued at $8,357,000 after acquiring an additional 170,502 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in Star Bulk Carriers by 29.5% in the 2nd quarter. Apollon Wealth Management LLC now owns 30,250 shares of the shipping company’s stock worth $522,000 after buying an additional 6,895 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in Star Bulk Carriers by 36.8% in the 2nd quarter. DAVENPORT & Co LLC now owns 17,776 shares of the shipping company’s stock worth $307,000 after buying an additional 4,778 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in 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 worth $59,000 after buying an additional 864 shares in the last quarter. Institutional investors and hedge funds own 33.91% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SBLK. Zacks Research upgraded shares of Star Bulk Carriers from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Wall Street Zen upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Star Bulk Carriers in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Star Bulk Carriers has an average rating of “Hold” and an average price target of $21.10.

Star Bulk Carriers Price Performance

SBLK opened at $18.22 on Wednesday. The company has a market capitalization of $2.14 billion, a P/E ratio of 17.35 and a beta of 0.95. The company has a 50-day moving average of $18.65 and a 200-day moving average of $17.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.42 and a current ratio of 1.61. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $20.54.

Star Bulk Carriers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Thursday, August 28th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 28th. Star Bulk Carriers’s dividend payout ratio is 19.05%.

Star Bulk Carriers Profile

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.