Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC trimmed its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,543 shares of the shipping company’s stock after selling 1,299 shares during the period. Global Retirement Partners LLC’s holdings in Star Bulk Carriers were worth $842,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC purchased a new position in shares of Star Bulk Carriers during the second quarter valued at approximately $32,000. Atlas Capital Advisors LLC purchased a new position in shares of Star Bulk Carriers during the 1st quarter worth $36,000. FinTrust Capital Advisors LLC boosted its holdings in shares of Star Bulk Carriers by 100.0% during the first quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock worth $48,000 after purchasing an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Star Bulk Carriers in the second quarter valued at $54,000. Finally, Point72 DIFC Ltd acquired a new position in Star Bulk Carriers in the second quarter valued at $72,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on SBLK shares. DNB Markets downgraded shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Star Bulk Carriers in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target for the company. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.33.

Star Bulk Carriers Stock Performance

Shares of NASDAQ:SBLK opened at $20.40 on Friday. The firm has a market capitalization of $1.71 billion, a PE ratio of 7.50 and a beta of 0.98. Star Bulk Carriers Corp. has a 12 month low of $17.91 and a 12 month high of $27.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. The business has a 50-day moving average of $21.43 and a two-hundred day moving average of $23.34.

Star Bulk Carriers (NASDAQ:SBLK) last posted its earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The business had revenue of $352.88 million for the quarter, compared to analyst estimates of $329.38 million. Star Bulk Carriers had a return on equity of 13.58% and a net margin of 24.05%. During the same period last year, the company posted $0.47 EPS. As a group, research analysts forecast that Star Bulk Carriers Corp. will post 3.47 earnings per share for the current year.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 27th were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, August 27th. This represents a $2.80 annualized dividend and a dividend yield of 13.73%. Star Bulk Carriers’s payout ratio is 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.