DAVENPORT & Co LLC Has $211,000 Stock Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

DAVENPORT & Co LLC increased its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,129 shares of the shipping company’s stock after buying an additional 1,083 shares during the quarter. DAVENPORT & Co LLC’s holdings in Star Bulk Carriers were worth $211,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new stake in shares of Star Bulk Carriers in the second quarter worth approximately $754,000. SG Americas Securities LLC purchased a new stake in shares of Star Bulk Carriers in the third quarter worth approximately $336,000. Ritholtz Wealth Management raised its stake in shares of Star Bulk Carriers by 2.8% in the third quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company’s stock worth $773,000 after purchasing an additional 890 shares during the last quarter. Gilman Hill Asset Management LLC raised its stake in shares of Star Bulk Carriers by 2.0% in the third quarter. Gilman Hill Asset Management LLC now owns 407,705 shares of the shipping company’s stock worth $9,659,000 after purchasing an additional 8,008 shares during the last quarter. Finally, Benson Investment Management Company Inc. purchased a new stake in shares of Star Bulk Carriers in the third quarter worth approximately $5,259,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBLK has been the subject of several analyst reports. Stifel Nicolaus downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $28.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. StockNews.com lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, DNB Markets raised Star Bulk Carriers from a “sell” rating to a “hold” rating and upped their target price for the company from $19.30 to $20.20 in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.80.

Star Bulk Carriers Stock Performance

SBLK stock opened at $15.38 on Monday. The firm has a market cap of $1.29 billion, a PE ratio of 5.20 and a beta of 0.95. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $15.26 and a 200-day moving average of $18.87. Star Bulk Carriers Corp. has a 12-month low of $14.30 and a 12-month high of $27.47.

Star Bulk Carriers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 15.60%. The ex-dividend date was Thursday, December 5th. Star Bulk Carriers’s dividend payout ratio (DPR) is 81.08%.

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.