Avior Wealth Management LLC Increases Stock Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Avior Wealth Management LLC increased its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 26.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,641 shares of the shipping company’s stock after purchasing an additional 1,385 shares during the quarter. Avior Wealth Management LLC’s holdings in Star Bulk Carriers were worth $157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in Star Bulk Carriers in the second quarter valued at $32,000. Blue Trust Inc. grew its position in Star Bulk Carriers by 190.5% during the third quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock worth $49,000 after buying an additional 1,328 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Star Bulk Carriers during the 2nd quarter valued at approximately $54,000. Point72 DIFC Ltd acquired a new stake in shares of Star Bulk Carriers during the 2nd quarter valued at approximately $72,000. Finally, AM Squared Ltd acquired a new stake in shares of Star Bulk Carriers in the 3rd quarter worth approximately $76,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Star Bulk Carriers Trading Down 0.4 %

Shares of SBLK stock opened at $18.63 on Friday. Star Bulk Carriers Corp. has a twelve month low of $18.52 and a twelve month high of $27.47. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 6.29 and a beta of 1.00. The firm has a 50-day moving average price of $20.72 and a 200 day moving average price of $22.59. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 0.44.

Star Bulk Carriers Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Thursday, December 5th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 12.88%. The ex-dividend date of this dividend is Thursday, December 5th. Star Bulk Carriers’s payout ratio is 94.59%.

Analyst Ratings Changes

Several equities analysts recently issued reports on SBLK shares. StockNews.com raised Star Bulk Carriers from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and issued a $28.00 price objective on shares of Star Bulk Carriers in a research report on Wednesday. Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and dropped their target price for the company from $30.00 to $21.00 in a report on Wednesday, October 23rd. DNB Markets raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and upped their price target for the company from $19.30 to $20.20 in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Star Bulk Carriers in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Star Bulk Carriers currently has an average rating of “Moderate Buy” and a consensus price target of $23.80.

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.