Point72 DIFC Ltd Purchases Shares of 2,949 Star Bulk Carriers Corp. (NASDAQ:SBLK)

Point72 DIFC Ltd acquired a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,949 shares of the shipping company’s stock, valued at approximately $72,000.

Other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new position in Star Bulk Carriers in the 2nd quarter worth $32,000. Atlas Capital Advisors LLC purchased a new position in shares of Star Bulk Carriers in the first quarter worth about $36,000. FinTrust Capital Advisors LLC lifted its stake in shares of Star Bulk Carriers by 100.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock valued at $48,000 after acquiring an additional 1,000 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in Star Bulk Carriers during the 4th quarter valued at about $50,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Star Bulk Carriers during the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Wall Street Analyst Weigh In

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

Star Bulk Carriers Stock Performance

Shares of NASDAQ:SBLK opened at $23.54 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 10.60 and a beta of 0.97. Star Bulk Carriers Corp. has a 12 month low of $17.91 and a 12 month high of $27.47. The company has a 50-day moving average price of $21.58 and a 200-day moving average price of $23.59.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Wednesday, August 7th. The shipping company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $352.88 million for the quarter, compared to the consensus estimate of $329.38 million. During the same quarter in the prior year, the company earned $0.47 EPS. As a group, equities analysts anticipate that Star Bulk Carriers Corp. will post 3.32 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 11.89%. The ex-dividend date was Tuesday, August 27th. Star Bulk Carriers’s payout ratio is presently 126.13%.

About Star Bulk Carriers

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.