1,991 Shares in Star Bulk Carriers Corp. (NASDAQ:SBLK) Purchased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust purchased a new stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,991 shares of the shipping company’s stock, valued at approximately $30,000.

Other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Star Bulk Carriers by 229.6% during the 3rd quarter. FMR LLC now owns 404,196 shares of the shipping company’s stock valued at $9,575,000 after acquiring an additional 281,552 shares during the last quarter. Geode Capital Management LLC lifted its position in Star Bulk Carriers by 359.3% during the third quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company’s stock valued at $10,833,000 after purchasing an additional 357,720 shares during the last quarter. Barclays PLC increased its holdings in shares of Star Bulk Carriers by 7,313.4% in the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company’s stock worth $10,784,000 after buying an additional 449,113 shares during the last quarter. Blue Trust Inc. raised its position in shares of Star Bulk Carriers by 1,458.8% during the 4th quarter. Blue Trust Inc. now owns 31,565 shares of the shipping company’s stock valued at $472,000 after buying an additional 29,540 shares in the last quarter. Finally, Navellier & Associates Inc. bought a new position in shares of Star Bulk Carriers in the 3rd quarter valued at about $892,000. Institutional investors own 33.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Star Bulk Carriers Trading Down 2.6 %

Shares of NASDAQ SBLK opened at $15.23 on Tuesday. The business’s 50 day moving average price is $15.25 and its 200-day moving average price is $18.16. Star Bulk Carriers Corp. has a fifty-two week low of $14.30 and a fifty-two week high of $27.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 5.31 and a beta of 0.95.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results 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 analysts’ expectations of $230.91 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. On average, sell-side analysts expect that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.36 annualized dividend and a yield of 2.36%. Star Bulk Carriers’s dividend payout ratio (DPR) is 12.54%.

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.