Star Bulk Carriers Corp. (NASDAQ:SBLK) Short Interest Update

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 2,180,000 shares, a drop of 14.5% from the August 31st total of 2,550,000 shares. Based on an average trading volume of 1,640,000 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft began coverage on Star Bulk Carriers in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price on the stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Star Bulk Carriers by 39.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,214 shares of the shipping company’s stock worth $6,064,000 after acquiring an additional 80,406 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Star Bulk Carriers by 17.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 70,154 shares of the shipping company’s stock worth $1,491,000 after buying an additional 10,407 shares during the last quarter. Armor Advisors L.L.C. boosted its stake in Star Bulk Carriers by 56.1% in the fourth quarter. Armor Advisors L.L.C. now owns 133,576 shares of the shipping company’s stock valued at $2,840,000 after acquiring an additional 48,000 shares during the last quarter. Seven Eight Capital LP increased its stake in shares of Star Bulk Carriers by 472.3% during the 4th quarter. Seven Eight Capital LP now owns 82,364 shares of the shipping company’s stock worth $1,751,000 after purchasing an additional 67,973 shares during the last quarter. Finally, Capital Fund Management S.A. lifted its stake in Star Bulk Carriers by 1.7% in the fourth quarter. Capital Fund Management S.A. now owns 257,665 shares of the shipping company’s stock valued at $5,478,000 after purchasing an additional 4,224 shares during the last quarter. 33.91% of the stock is owned by institutional investors.

Star Bulk Carriers Trading Down 0.6 %

SBLK opened at $23.54 on Friday. The firm has a market capitalization of $1.98 billion, a PE ratio of 10.60 and a beta of 0.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. Star Bulk Carriers has a fifty-two week low of $17.91 and a fifty-two week high of $27.47. The company’s 50-day moving average is $21.58 and its 200 day moving average is $23.59.

Star Bulk Carriers (NASDAQ:SBLK) last posted its earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The company had revenue of $352.88 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $0.47 EPS. As a group, research analysts predict that Star Bulk Carriers will post 3.32 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 27th were paid a $0.70 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $2.80 annualized dividend and a dividend yield of 11.89%. Star Bulk Carriers’s payout ratio is 126.13%.

About Star Bulk Carriers

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.