Autumn Glory Partners LLC Makes New $649,000 Investment in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Autumn Glory Partners LLC purchased a new stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 27,400 shares of the shipping company’s stock, valued at approximately $649,000.

A number of other hedge funds also recently modified their holdings of SBLK. Russell Investments Group Ltd. increased its position in Star Bulk Carriers by 14.4% during the 1st quarter. Russell Investments Group Ltd. now owns 199,760 shares of the shipping company’s stock valued at $4,768,000 after purchasing an additional 25,106 shares during the period. Unison Advisors LLC bought a new position in Star Bulk Carriers during the second quarter worth $794,000. Benson Investment Management Company Inc. acquired a new position in Star Bulk Carriers in the third quarter valued at $5,259,000. Fifth Lane Capital LP bought a new stake in Star Bulk Carriers during the first quarter valued at $1,856,000. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its holdings in Star Bulk Carriers by 34.1% during the 2nd quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 295,000 shares of the shipping company’s stock worth $7,192,000 after acquiring an additional 75,000 shares during the period. Institutional investors and hedge funds own 33.91% of the company’s stock.

Star Bulk Carriers Stock Performance

Shares of Star Bulk Carriers stock opened at $19.03 on Tuesday. The business has a 50-day simple moving average of $21.20 and a 200 day simple moving average of $23.16. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 7.00 and a beta of 0.98. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. Star Bulk Carriers Corp. has a one year low of $17.91 and a one year high of $27.47.

Star Bulk Carriers (NASDAQ:SBLK) last issued its 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 return on equity of 13.58% and a net margin of 24.05%. The firm had revenue of $352.88 million for the quarter, compared to analyst estimates of $329.38 million. During the same period in the previous year, the company earned $0.47 earnings per share. On average, research analysts anticipate that Star Bulk Carriers Corp. will post 2.98 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 14.71%. The ex-dividend date of this dividend was Tuesday, August 27th. Star Bulk Carriers’s dividend payout ratio (DPR) is 102.94%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SBLK shares. Deutsche Bank Aktiengesellschaft assumed coverage on Star Bulk Carriers in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price objective on the stock. Stifel Nicolaus cut Star Bulk Carriers from a “buy” rating to a “hold” rating and cut their price target for the stock from $30.00 to $21.00 in a report on Wednesday, October 23rd. Finally, DNB Markets lowered shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Star Bulk Carriers has an average rating of “Hold” and an average price target of $25.67.

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.