International Assets Investment Management LLC Takes Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

International Assets Investment Management LLC purchased a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 12,579 shares of the shipping company’s stock, valued at approximately $298,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in shares of Star Bulk Carriers during the 2nd quarter valued at $32,000. Blue Trust Inc. boosted its holdings in shares of Star Bulk Carriers by 190.5% during the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock valued at $49,000 after acquiring an additional 1,328 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Star Bulk Carriers during the 2nd quarter valued at $54,000. Point72 DIFC Ltd acquired a new stake in shares of Star Bulk Carriers during the 2nd quarter valued at $72,000. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Star Bulk Carriers by 88.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 5,014 shares of the shipping company’s stock valued at $122,000 after acquiring an additional 2,350 shares in the last quarter. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Down 0.2 %

Shares of SBLK opened at $19.57 on Thursday. The company has a market capitalization of $1.64 billion, a PE ratio of 7.19 and a beta of 1.00. Star Bulk Carriers Corp. has a 12 month low of $17.91 and a 12 month high of $27.47. The stock’s 50-day moving average price is $20.93 and its two-hundred day moving average price is $22.97. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48.

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 the consensus estimate of $0.79 by ($0.01). Star Bulk Carriers had a return on equity of 13.58% and a net margin of 24.05%. The company had revenue of $352.88 million for the quarter, compared to analyst estimates of $329.38 million. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, analysts anticipate that Star Bulk Carriers Corp. will post 2.98 EPS for the current year.

Wall Street Analyst Weigh In

SBLK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Star Bulk Carriers in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective on the stock. DNB Markets downgraded Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating and cut their target price for the stock from $30.00 to $21.00 in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.67.

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.