Susquehanna Fundamental Investments LLC Increases Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Susquehanna Fundamental Investments LLC boosted its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 22.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,888 shares of the shipping company’s stock after purchasing an additional 29,042 shares during the period. Susquehanna Fundamental Investments LLC owned about 0.19% of Star Bulk Carriers worth $3,825,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBLK. Millennium Management LLC raised its stake in shares of Star Bulk Carriers by 335.4% during the 2nd quarter. Millennium Management LLC now owns 1,221,255 shares of the shipping company’s stock worth $29,774,000 after buying an additional 940,745 shares during the last quarter. Encompass Capital Advisors LLC raised its position in Star Bulk Carriers by 27.5% during the second quarter. Encompass Capital Advisors LLC now owns 2,052,262 shares of the shipping company’s stock worth $50,034,000 after acquiring an additional 442,860 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Star Bulk Carriers in the second quarter valued at about $376,000. Cubist Systematic Strategies LLC grew its position in shares of Star Bulk Carriers by 7.2% in the second quarter. Cubist Systematic Strategies LLC now owns 380,083 shares of the shipping company’s stock valued at $9,266,000 after purchasing an additional 25,373 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of Star Bulk Carriers during the 2nd quarter worth approximately $72,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Star Bulk Carriers Price Performance

NASDAQ:SBLK opened at $23.54 on Monday. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 10.60 and a beta of 0.97. Star Bulk Carriers Corp. has a 12-month low of $17.91 and a 12-month high of $27.47. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average is $21.58 and its two-hundred day moving average is $23.58.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). The company had revenue of $352.88 million for the quarter, compared to analysts’ expectations of $329.38 million. Star Bulk Carriers had a return on equity of 13.58% and a net margin of 24.05%. During the same quarter in the previous year, the company earned $0.47 earnings per share. Research analysts expect that Star Bulk Carriers Corp. will post 3.32 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Tuesday, August 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend 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 currently 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.