Star Bulk Carriers Corp. (NASDAQ:SBLK) Stock Holdings Lifted by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,630 shares of the shipping company’s stock after buying an additional 890 shares during the period. Ritholtz Wealth Management’s holdings in Star Bulk Carriers were worth $773,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Encompass Capital Advisors LLC lifted its position in shares of Star Bulk Carriers by 27.5% in the second quarter. Encompass Capital Advisors LLC now owns 2,052,262 shares of the shipping company’s stock worth $50,034,000 after purchasing an additional 442,860 shares in the last quarter. Marshall Wace LLP lifted its position in Star Bulk Carriers by 101.8% in the 2nd quarter. Marshall Wace LLP now owns 1,791,426 shares of the shipping company’s stock worth $43,675,000 after buying an additional 903,542 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Star Bulk Carriers by 25.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,746,070 shares of the shipping company’s stock valued at $42,569,000 after buying an additional 358,870 shares during the period. Millennium Management LLC grew its holdings in shares of Star Bulk Carriers by 335.4% during the 2nd quarter. Millennium Management LLC now owns 1,221,255 shares of the shipping company’s stock valued at $29,774,000 after acquiring an additional 940,745 shares in the last quarter. Finally, Artemis Investment Management LLP increased its stake in shares of Star Bulk Carriers by 29.4% in the second quarter. Artemis Investment Management LLP now owns 1,025,802 shares of the shipping company’s stock worth $25,009,000 after acquiring an additional 233,000 shares during the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBLK has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Star Bulk Carriers in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price on the stock. DNB Markets cut Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Star Bulk Carriers has a consensus rating of “Moderate Buy” and an average target price of $29.33.

Star Bulk Carriers Price Performance

NASDAQ SBLK opened at $20.64 on Tuesday. Star Bulk Carriers Corp. has a fifty-two week low of $17.91 and a fifty-two week high of $27.47. The stock’s 50-day moving average is $21.50 and its two-hundred day moving average is $23.44. The firm has a market cap of $1.73 billion, a P/E ratio of 7.59 and a beta of 0.98. 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 (NASDAQ:SBLK) last issued its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The company had revenue of $352.88 million during the quarter, compared to the consensus estimate 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 period in the previous year, the business posted $0.47 earnings per share. On average, analysts anticipate that Star Bulk Carriers Corp. will post 3.47 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 13.57%. Star Bulk Carriers’s payout ratio is presently 102.94%.

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.