Gordian Capital Singapore Pte Ltd Makes New Investment in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Gordian Capital Singapore Pte Ltd bought a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 65,000 shares of the shipping company’s stock, valued at approximately $1,585,000. Star Bulk Carriers accounts for about 0.8% of Gordian Capital Singapore Pte Ltd’s portfolio, making the stock its 22nd biggest position.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in Star Bulk Carriers by 14.4% in the first quarter. Russell Investments Group Ltd. now owns 199,760 shares of the shipping company’s stock worth $4,768,000 after purchasing an additional 25,106 shares during the last quarter. Unison Advisors LLC bought a new position in Star Bulk Carriers in the second quarter worth approximately $794,000. Marketfield Asset Management LLC grew its stake in Star Bulk Carriers by 42.9% in the fourth quarter. Marketfield Asset Management LLC now owns 172,145 shares of the shipping company’s stock worth $3,660,000 after purchasing an additional 51,639 shares in the last quarter. Artemis Investment Management LLP grew its stake in Star Bulk Carriers by 112.7% in the first quarter. Artemis Investment Management LLP now owns 792,802 shares of the shipping company’s stock worth $18,915,000 after purchasing an additional 420,100 shares in the last quarter. Finally, Seven Eight Capital LP grew its stake in Star Bulk Carriers by 472.3% in the fourth quarter. Seven Eight Capital LP now owns 82,364 shares of the shipping company’s stock worth $1,751,000 after purchasing an additional 67,973 shares in the last quarter. Institutional investors own 33.91% of the company’s stock.

Analysts Set New Price Targets

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

Star Bulk Carriers Stock Down 0.4 %

Star Bulk Carriers stock opened at $23.59 on Wednesday. Star Bulk Carriers Corp. has a twelve month low of $17.91 and a twelve month high of $27.47. The business has a fifty day moving average of $21.56 and a two-hundred day moving average of $23.58. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.98 billion, a P/E ratio of 10.63 and a beta of 0.97.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.01). The business had revenue of $352.88 million for the quarter, compared to analysts’ expectations of $329.38 million. Star Bulk Carriers had a net margin of 24.05% and a return on equity of 13.58%. During the same quarter in the prior year, the company posted $0.47 EPS. On average, analysts forecast that Star Bulk Carriers Corp. will post 3.32 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 27th were paid a $0.70 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $2.80 dividend on an annualized basis and a yield of 11.87%. Star Bulk Carriers’s dividend payout ratio (DPR) is 126.13%.

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.