BNP Paribas Financial Markets Cuts Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

BNP Paribas Financial Markets lowered its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 95.0% in the third quarter, Holdings Channel reports. The institutional investor owned 12,614 shares of the shipping company’s stock after selling 238,502 shares during the period. BNP Paribas Financial Markets’ holdings in Star Bulk Carriers were worth $299,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SBLK. Ritholtz Wealth Management grew its stake in Star Bulk Carriers by 2.8% in the third quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company’s stock valued at $773,000 after purchasing an additional 890 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its position in shares of Star Bulk Carriers by 8.5% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 16,640 shares of the shipping company’s stock worth $406,000 after buying an additional 1,310 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Star Bulk Carriers during the 2nd quarter worth approximately $32,000. Blue Trust Inc. raised its stake 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 worth $49,000 after acquiring an additional 1,328 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in Star Bulk Carriers by 26.4% during the third quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company’s stock valued at $157,000 after acquiring an additional 1,385 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Down 1.9 %

Star Bulk Carriers stock opened at $15.15 on Monday. The business’s 50-day simple moving average is $19.01 and its two-hundred day simple moving average is $21.55. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.69. The company has a market cap of $1.27 billion, a PE ratio of 5.12, a PEG ratio of 3.95 and a beta of 0.96. Star Bulk Carriers Corp. has a fifty-two week low of $15.06 and a fifty-two week high of $27.47.

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Thursday, December 5th will be given a $0.60 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.40 dividend on an annualized basis and a yield of 15.84%. Star Bulk Carriers’s dividend payout ratio is currently 81.08%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SBLK. Jefferies Financial Group reaffirmed a “buy” rating and set a $28.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft started coverage on Star Bulk Carriers in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. Stifel Nicolaus downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating and lowered their price target for the stock from $30.00 to $21.00 in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday. Finally, DNB Markets upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and lifted their target price for the stock from $19.30 to $20.20 in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Star Bulk Carriers currently has an average rating of “Hold” and an average price target of $23.80.

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.