Sigma Planning Corp Increases Stock Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Sigma Planning Corp boosted its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,482 shares of the shipping company’s stock after buying an additional 1,060 shares during the quarter. Sigma Planning Corp’s holdings in Star Bulk Carriers were worth $336,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SBLK. Blue Trust Inc. boosted its holdings in 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 during the period. Quarry LP boosted its holdings in Star Bulk Carriers by 39.8% during the 3rd quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 673 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Star Bulk Carriers in the third quarter valued at approximately $57,000. AM Squared Ltd purchased a new stake in Star Bulk Carriers during the 3rd quarter worth approximately $76,000. Finally, Avior Wealth Management LLC lifted its holdings in Star Bulk Carriers by 26.4% during the 3rd quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company’s stock worth $157,000 after buying an additional 1,385 shares in the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK opened at $15.63 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. Star Bulk Carriers Corp. has a twelve month low of $14.30 and a twelve month high of $27.47. The stock has a 50 day moving average of $15.25 and a two-hundred day moving average of $18.25. The stock has a market cap of $1.31 billion, a P/E ratio of 5.45 and a beta of 0.95.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.08). Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The business had revenue of $308.92 million during the quarter, compared to analysts’ expectations of $230.91 million. On average, research analysts forecast that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.30%. Star Bulk Carriers’s payout ratio is 12.54%.

Analyst Ratings Changes

SBLK has been the subject of several research reports. DNB Markets upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and boosted their price target for the stock from $19.30 to $20.20 in a research note on Thursday, November 21st. Jefferies Financial Group lowered their target price on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, StockNews.com downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Star Bulk Carriers currently has a consensus rating of “Hold” and an average target price of $22.05.

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.