Navellier & Associates Inc. Sells 997 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Navellier & Associates Inc. trimmed its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLKGet Rating) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,135 shares of the shipping company’s stock after selling 997 shares during the period. Navellier & Associates Inc.’s holdings in Star Bulk Carriers were worth $1,078,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SBLK. Renaissance Technologies LLC raised its stake in Star Bulk Carriers by 638.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,576,600 shares of the shipping company’s stock valued at $76,499,000 after purchasing an additional 2,227,800 shares during the last quarter. Acadian Asset Management LLC raised its stake in Star Bulk Carriers by 5,750.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,568,513 shares of the shipping company’s stock valued at $46,552,000 after purchasing an additional 1,541,705 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Star Bulk Carriers by 175.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,412,760 shares of the shipping company’s stock valued at $41,944,000 after purchasing an additional 899,337 shares during the last quarter. BlackRock Inc. raised its stake in Star Bulk Carriers by 46.1% during the 1st quarter. BlackRock Inc. now owns 791,111 shares of the shipping company’s stock valued at $23,488,000 after purchasing an additional 249,770 shares during the last quarter. Finally, J. Goldman & Co LP acquired a new position in Star Bulk Carriers during the 1st quarter valued at $6,674,000. 52.67% of the stock is owned by institutional investors.

Star Bulk Carriers Price Performance

Shares of SBLK traded up $0.18 during trading hours on Thursday, hitting $20.20. The stock had a trading volume of 1,446,161 shares, compared to its average volume of 1,991,752. The company’s fifty day moving average is $19.30 and its two-hundred day moving average is $23.59. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.07 and a quick ratio of 1.75. Star Bulk Carriers Corp. has a 52 week low of $16.85 and a 52 week high of $33.99. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 2.65 and a beta of 0.98.

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Wednesday, November 30th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 23.76%. The ex-dividend date is Tuesday, November 29th. Star Bulk Carriers’s payout ratio is 86.61%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SBLK. StockNews.com began coverage on shares of Star Bulk Carriers in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Pareto Securities raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a report on Tuesday, September 20th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Star Bulk Carriers from $40.00 to $33.00 in a report on Thursday, October 27th. Finally, Jefferies Financial Group lowered their price target on shares of Star Bulk Carriers from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, September 26th.

Star Bulk Carriers Profile

(Get Rating)

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

See Also

Institutional Ownership by Quarter for Star Bulk Carriers (NASDAQ:SBLK)

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