Atlas Capital Advisors Inc. Has $59,000 Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Atlas Capital Advisors Inc. cut its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 68.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,933 shares of the shipping company’s stock after selling 8,646 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in Star Bulk Carriers were worth $59,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SBLK. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Star Bulk Carriers in the third quarter valued at approximately $17,137,000. Barclays PLC raised its holdings in shares of Star Bulk Carriers by 7,313.4% during the third quarter. Barclays PLC now owns 455,254 shares of the shipping company’s stock worth $10,784,000 after acquiring an additional 449,113 shares during the period. Stifel Financial Corp lifted its position in Star Bulk Carriers by 152.2% in the 3rd quarter. Stifel Financial Corp now owns 685,053 shares of the shipping company’s stock valued at $16,229,000 after acquiring an additional 413,423 shares in the last quarter. Amundi boosted its stake in Star Bulk Carriers by 48.9% in the 4th quarter. Amundi now owns 1,174,566 shares of the shipping company’s stock worth $17,454,000 after purchasing an additional 385,980 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Star Bulk Carriers by 359.3% during the 3rd quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company’s stock worth $10,833,000 after purchasing an additional 357,720 shares in the last quarter. 33.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SBLK. Jefferies Financial Group cut 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. StockNews.com cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.05.

Star Bulk Carriers Trading Down 8.0 %

Shares of NASDAQ:SBLK opened at $13.08 on Friday. The stock has a market capitalization of $1.54 billion, a PE ratio of 4.56 and a beta of 1.03. The company’s 50-day moving average price is $15.73 and its two-hundred day moving average price is $17.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50. Star Bulk Carriers Corp. has a one year low of $12.72 and a one year high of $27.47.

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

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a yield of 2.75%. Star Bulk Carriers’s payout ratio is 12.54%.

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.