Relyea Zuckerberg Hanson LLC Sells 34,353 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Relyea Zuckerberg Hanson LLC decreased its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 21.5% in the fourth quarter, Holdings Channel reports. The firm owned 125,377 shares of the shipping company’s stock after selling 34,353 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Star Bulk Carriers were worth $1,874,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SBLK. Quarry LP boosted its holdings in shares of Star Bulk Carriers by 39.8% in the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock worth $56,000 after acquiring an additional 673 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Star Bulk Carriers by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company’s stock valued at $773,000 after buying an additional 890 shares during the period. Blue Trust Inc. increased its stake in shares of Star Bulk Carriers by 190.5% in the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock valued at $49,000 after buying an additional 1,328 shares during the period. Avior Wealth Management LLC raised its position in shares of 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 worth $157,000 after acquiring an additional 1,385 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of Star Bulk Carriers by 22.1% during the third quarter. Private Advisor Group LLC now owns 11,882 shares of the shipping company’s stock valued at $281,000 after acquiring an additional 2,152 shares during the period. 33.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on SBLK shares. StockNews.com raised Star Bulk Carriers from a “hold” rating to a “buy” rating in a report on Friday, December 20th. DNB Markets upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and upped their target price for the company from $19.30 to $20.20 in a research report on Thursday, November 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $28.00 target price on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus cut Star Bulk Carriers from a “buy” rating to a “hold” rating and decreased their target price for the company from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.80.

Star Bulk Carriers Stock Up 1.2 %

Star Bulk Carriers stock traded up $0.17 during mid-day trading on Friday, reaching $14.89. The company’s stock had a trading volume of 228,919 shares, compared to its average volume of 1,743,433. The business’s 50 day simple moving average is $16.57 and its 200 day simple moving average is $19.92. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.69. 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 capitalization of $1.25 billion, a price-to-earnings ratio of 5.02, a price-to-earnings-growth ratio of 4.57 and a beta of 0.98.

Star Bulk Carriers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors 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 16.11%. The ex-dividend date of this dividend was Thursday, December 5th. Star Bulk Carriers’s dividend payout ratio is currently 81.08%.

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.