Susquehanna Portfolio Strategies LLC Has $2.31 Million Stock Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Susquehanna Portfolio Strategies LLC boosted its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 10.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,881 shares of the shipping company’s stock after acquiring an additional 9,304 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Star Bulk Carriers were worth $2,313,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBLK. Nisa Investment Advisors LLC bought a new position in shares of Star Bulk Carriers in the 2nd quarter valued at about $32,000. Atlas Capital Advisors LLC bought a new position in Star Bulk Carriers in the first quarter valued at approximately $36,000. FinTrust Capital Advisors LLC grew its holdings in Star Bulk Carriers by 100.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock worth $48,000 after acquiring an additional 1,000 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Star Bulk Carriers during the 2nd quarter valued at $54,000. Finally, Creekmur Asset Management LLC acquired a new position in shares of Star Bulk Carriers in the 4th quarter valued at $50,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Star Bulk Carriers Stock Down 0.6 %

Star Bulk Carriers stock opened at $23.54 on Friday. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 10.60 and a beta of 0.97. The company’s 50 day simple moving average is $21.59 and its 200 day simple moving average is $23.59. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. Star Bulk Carriers Corp. has a fifty-two week low of $17.91 and a fifty-two week high of $27.47.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). Star Bulk Carriers had a net margin of 24.05% and a return on equity of 13.58%. The firm had revenue of $352.88 million during the quarter, compared to analyst estimates of $329.38 million. During the same period last year, the firm earned $0.47 EPS. As a group, sell-side analysts anticipate that Star Bulk Carriers Corp. will post 3.32 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $2.80 annualized dividend and a dividend yield of 11.89%. Star Bulk Carriers’s dividend payout ratio (DPR) is currently 126.13%.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on Star Bulk Carriers in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective for the company.

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.