Atlas Capital Advisors LLC Has $170,000 Stock Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Atlas Capital Advisors LLC lifted its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 365.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,975 shares of the shipping company’s stock after buying an additional 5,475 shares during the period. Atlas Capital Advisors LLC’s holdings in Star Bulk Carriers were worth $170,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SBLK. Cambridge Investment Research Advisors Inc. lifted its stake in Star Bulk Carriers by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 71,144 shares of the shipping company’s stock valued at $1,698,000 after buying an additional 990 shares in the last quarter. FinTrust Capital Advisors LLC boosted its stake in Star Bulk Carriers by 100.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock worth $48,000 after purchasing an additional 1,000 shares during the period. Gilman Hill Asset Management LLC increased its holdings in Star Bulk Carriers by 0.3% during the 1st quarter. Gilman Hill Asset Management LLC now owns 404,110 shares of the shipping company’s stock worth $9,646,000 after purchasing an additional 1,046 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of Star Bulk Carriers by 5.8% in the 4th quarter. Apollon Wealth Management LLC now owns 20,612 shares of the shipping company’s stock valued at $438,000 after purchasing an additional 1,131 shares during the period. Finally, Nisa Investment Advisors LLC bought a new stake in shares of Star Bulk Carriers in the second quarter valued at about $32,000. Institutional investors and hedge funds own 33.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SBLK. StockNews.com upgraded Star Bulk Carriers from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Stifel Nicolaus raised their price target on shares of Star Bulk Carriers from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $30.00 price objective on shares of Star Bulk Carriers in a research report on Thursday, May 23rd.

Star Bulk Carriers Stock Up 0.2 %

Shares of NASDAQ:SBLK traded up $0.04 during midday trading on Friday, reaching $21.37. The company had a trading volume of 2,050,159 shares, compared to its average volume of 1,554,755. Star Bulk Carriers Corp. has a 1-year low of $17.12 and a 1-year high of $27.47. The stock has a market cap of $1.80 billion, a PE ratio of 9.63 and a beta of 0.96. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average price is $22.76 and its 200 day moving average price is $23.86.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Star Bulk Carriers had a net margin of 24.05% and a return on equity of 13.58%. The company had revenue of $352.88 million during the quarter, compared to the consensus estimate of $329.38 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. Research analysts forecast that Star Bulk Carriers Corp. will post 3.47 EPS for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 13.10%. The ex-dividend date is Tuesday, August 27th. Star Bulk Carriers’s dividend payout ratio (DPR) is currently 126.13%.

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.