Headlands Technologies LLC Boosts Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Headlands Technologies LLC raised its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 21.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 48,011 shares of the shipping company’s stock after acquiring an additional 8,376 shares during the period. Headlands Technologies LLC’s holdings in Star Bulk Carriers were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Star Bulk Carriers in the 4th quarter worth $28,000. Parkside Financial Bank & Trust purchased a new stake in Star Bulk Carriers in the 4th quarter worth approximately $30,000. Steward Partners Investment Advisory LLC raised its stake in Star Bulk Carriers by 177.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company’s stock worth $39,000 after acquiring an additional 1,676 shares during the period. Mountain Hill Investment Partners Corp. purchased a new position in Star Bulk Carriers during the fourth quarter valued at approximately $45,000. Finally, Blue Trust Inc. boosted its position in shares of Star Bulk Carriers by 51.3% in the fourth quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company’s stock worth $46,000 after purchasing an additional 1,038 shares during the period. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on SBLK shares. StockNews.com downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Jefferies Financial Group decreased their price target on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.05.

Star Bulk Carriers Trading Down 0.4 %

Star Bulk Carriers stock opened at $15.65 on Thursday. Star Bulk Carriers Corp. has a 1 year low of $14.30 and a 1 year high of $27.47. The firm’s 50 day moving average price is $15.78 and its 200-day moving average price is $17.44. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50. The stock has a market cap of $1.84 billion, a P/E ratio of 5.45 and a beta of 1.03.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Tuesday, February 18th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.08). Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The company had revenue of $308.92 million during the quarter, compared to the consensus estimate of $230.91 million. On average, equities analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Tuesday, March 4th. Star Bulk Carriers’s payout ratio is presently 12.54%.

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.