Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC decreased its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 21.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,098 shares of the shipping company’s stock after selling 88,607 shares during the quarter. Gilman Hill Asset Management LLC owned about 0.38% of Star Bulk Carriers worth $4,771,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC increased its stake in shares of Star Bulk Carriers by 27.5% in the second quarter. Encompass Capital Advisors LLC now owns 2,052,262 shares of the shipping company’s stock worth $50,034,000 after acquiring an additional 442,860 shares during the period. Marshall Wace LLP lifted its position in Star Bulk Carriers by 101.8% during the second quarter. Marshall Wace LLP now owns 1,791,426 shares of the shipping company’s stock worth $43,675,000 after buying an additional 903,542 shares in the last quarter. Millennium Management LLC boosted its position in shares of Star Bulk Carriers by 335.4% during the 2nd quarter. Millennium Management LLC now owns 1,221,255 shares of the shipping company’s stock valued at $29,774,000 after acquiring an additional 940,745 shares during the last quarter. Philosophy Capital Management LLC acquired a new position in Star Bulk Carriers in the 3rd quarter valued at about $24,842,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Star Bulk Carriers during the third quarter worth $17,137,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Star Bulk Carriers Stock Performance

Shares of SBLK stock opened at $14.68 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. Star Bulk Carriers Corp. has a 12-month low of $14.37 and a 12-month high of $27.47. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 4.96, a price-to-earnings-growth ratio of 4.57 and a beta of 0.98. The stock has a 50 day simple moving average of $16.47 and a 200-day simple moving average of $19.78.

Star Bulk Carriers Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 16.35%. The ex-dividend date was Thursday, December 5th. Star Bulk Carriers’s dividend payout ratio is currently 81.08%.

Analyst Ratings Changes

A number of research firms have commented on SBLK. DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and upped their price target for the stock from $19.30 to $20.20 in a research note on Thursday, November 21st. StockNews.com raised Star Bulk Carriers from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating and dropped their target price for the company from $30.00 to $21.00 in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $28.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Star Bulk Carriers presently has a consensus rating of “Moderate Buy” and an average target price of $23.80.

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.