Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC grew its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 696.9% during the third quarter, Holdings Channel reports. The firm owned 6,845 shares of the shipping company’s stock after acquiring an additional 5,986 shares during the quarter. Larson Financial Group LLC’s holdings in Star Bulk Carriers were worth $162,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in shares of Star Bulk Carriers during the second quarter worth $32,000. Blue Trust Inc. raised its holdings in shares of 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 purchasing 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 second quarter worth $54,000. Point72 DIFC Ltd bought a new position in shares of Star Bulk Carriers during the second quarter worth about $72,000. Finally, AM Squared Ltd bought a new position in shares of Star Bulk Carriers during the third quarter worth about $76,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK opened at $17.55 on Friday. Star Bulk Carriers Corp. has a twelve month low of $17.22 and a twelve month high of $27.47. The company has a current ratio of 1.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 4.86 and a beta of 1.00. The firm has a 50-day moving average of $20.46 and a two-hundred day moving average of $22.37.

Star Bulk Carriers Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Thursday, December 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 13.68%. The ex-dividend date of this dividend is Thursday, December 5th. Star Bulk Carriers’s payout ratio is 94.59%.

Analyst Ratings Changes

SBLK has been the subject of several recent research reports. DNB Markets upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and upped their price target for the stock from $19.30 to $20.20 in a research report on Thursday, November 21st. Stifel Nicolaus lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and decreased their target price for the company from $30.00 to $21.00 in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Jefferies Financial Group reiterated a “buy” rating and issued a $28.00 target price on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Star Bulk Carriers in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Star Bulk Carriers currently has an average rating of “Moderate Buy” and an average price target of $23.80.

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.