Los Angeles Capital Management LLC Acquires New Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Los Angeles Capital Management LLC bought a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 48,908 shares of the shipping company’s stock, valued at approximately $1,192,000. Los Angeles Capital Management LLC owned about 0.06% of Star Bulk Carriers as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SBLK. Nisa Investment Advisors LLC acquired a new stake in shares of Star Bulk Carriers in the 2nd quarter valued at $32,000. Atlas Capital Advisors LLC bought a new position in Star Bulk Carriers during the first quarter valued at about $36,000. Principal Securities Inc. acquired a new stake in shares of Star Bulk Carriers in the fourth quarter worth about $40,000. FinTrust Capital Advisors LLC boosted its stake in shares of Star Bulk Carriers by 100.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock worth $48,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in shares of Star Bulk Carriers during the 4th quarter valued at about $50,000. 33.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SBLK. Jefferies Financial Group restated a “buy” rating and issued a $30.00 target price on shares of Star Bulk Carriers in a report on Thursday, May 23rd. Stifel Nicolaus upped their price objective on shares of Star Bulk Carriers from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, May 24th. StockNews.com raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Star Bulk Carriers in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target for the company.

Star Bulk Carriers Trading Up 2.6 %

Shares of NASDAQ:SBLK opened at $20.45 on Thursday. The company has a market cap of $1.72 billion, a P/E ratio of 9.21 and a beta of 0.97. The stock’s 50-day moving average is $22.11 and its 200-day moving average is $23.77. Star Bulk Carriers Corp. has a 52-week low of $17.12 and a 52-week high of $27.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.34 and a current ratio of 1.51.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). The business had revenue of $352.88 million during the quarter, compared to analyst estimates of $329.38 million. Star Bulk Carriers had a net margin of 24.05% and a return on equity of 13.58%. During the same period in the prior year, the business posted $0.47 earnings per share. Equities research analysts predict that Star Bulk Carriers Corp. will post 3.32 earnings per share for the current year.

Star Bulk Carriers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 13.69%. The ex-dividend date of this dividend was Tuesday, August 27th. Star Bulk Carriers’s dividend payout ratio is currently 126.13%.

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.