Pathstone Holdings LLC Cuts Stock Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Pathstone Holdings LLC lowered its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 28.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 55,597 shares of the shipping company’s stock after selling 22,058 shares during the period. Pathstone Holdings LLC’s holdings in Star Bulk Carriers were worth $1,317,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Unison Advisors LLC purchased a new stake in Star Bulk Carriers in the 2nd quarter valued at about $794,000. Autumn Glory Partners LLC purchased a new stake in shares of Star Bulk Carriers during the third quarter valued at approximately $649,000. Benson Investment Management Company Inc. bought a new stake in Star Bulk Carriers during the third quarter worth $5,259,000. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group boosted its position in Star Bulk Carriers by 34.1% in the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 295,000 shares of the shipping company’s stock worth $7,192,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Star Bulk Carriers in the 2nd quarter valued at $539,000. 33.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SBLK has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Star Bulk Carriers in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price on the stock. Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and reduced their target price for the company from $30.00 to $21.00 in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Jefferies Financial Group reiterated a “buy” rating and issued a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. Finally, DNB Markets raised Star Bulk Carriers from a “sell” rating to a “hold” rating and raised their target price for the stock from $19.30 to $20.20 in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Star Bulk Carriers has an average rating of “Moderate Buy” and a consensus target price of $23.80.

Star Bulk Carriers Stock Down 2.7 %

SBLK opened at $17.55 on Friday. The company has a 50 day moving average of $20.46 and a 200 day moving average of $22.37. The company has a current ratio of 1.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. Star Bulk Carriers Corp. has a 12 month low of $17.22 and a 12 month high of $27.47. The company has a market cap of $1.47 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 4.86 and a beta of 1.00.

Star Bulk Carriers Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 13.68%. The ex-dividend date is Thursday, December 5th. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 94.59%.

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.