Concurrent Investment Advisors LLC Sells 30,575 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Concurrent Investment Advisors LLC lowered its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 40.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,301 shares of the shipping company’s stock after selling 30,575 shares during the period. Concurrent Investment Advisors LLC owned about 0.05% of Star Bulk Carriers worth $677,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Quarry LP grew its holdings in shares of Star Bulk Carriers by 39.8% in the third quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock worth $56,000 after acquiring an additional 673 shares during the period. Blue Trust Inc. grew its holdings in Star Bulk Carriers by 51.3% during the fourth quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 1,038 shares during the period. DAVENPORT & Co LLC grew its holdings in Star Bulk Carriers by 8.3% during the fourth quarter. DAVENPORT & Co LLC now owns 14,129 shares of the shipping company’s stock valued at $211,000 after purchasing an additional 1,083 shares during the period. Avior Wealth Management LLC grew its holdings in Star Bulk Carriers by 26.4% during the third quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company’s stock valued at $157,000 after purchasing an additional 1,385 shares during the period. Finally, Guidance Capital Inc. grew its holdings in Star Bulk Carriers by 6.1% during the fourth quarter. Guidance Capital Inc. now owns 25,103 shares of the shipping company’s stock valued at $372,000 after purchasing an additional 1,434 shares during the period. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Performance

NASDAQ SBLK opened at $15.35 on Monday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 5.35 and a beta of 0.95. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $15.18 and a 200-day moving average price of $18.42. Star Bulk Carriers Corp. has a twelve month low of $14.30 and a twelve month high of $27.47.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.08). The business had revenue of $308.92 million during the quarter, compared to the consensus estimate 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, equities research analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be given a $0.09 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.35%. Star Bulk Carriers’s dividend payout ratio is currently 12.54%.

Analyst Ratings Changes

Several research firms have issued reports on SBLK. StockNews.com lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Jefferies Financial Group cut their price target on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, DNB Markets raised Star Bulk Carriers from a “sell” rating to a “hold” rating and boosted their price target for the company from $19.30 to $20.20 in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.05.

Star Bulk Carriers Company 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.