Y Intercept Hong Kong Ltd Has $591,000 Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Y Intercept Hong Kong Ltd grew its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 44.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 39,557 shares of the shipping company’s stock after acquiring an additional 12,185 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Star Bulk Carriers were worth $591,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SBLK. Philosophy Capital Management LLC bought a new stake in shares of Star Bulk Carriers during the third quarter worth $24,842,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Star Bulk Carriers during the third quarter worth $17,137,000. Barclays PLC raised its position 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 last quarter. Stifel Financial Corp raised its position in shares of Star Bulk Carriers by 152.2% during the third quarter. Stifel Financial Corp now owns 685,053 shares of the shipping company’s stock worth $16,229,000 after acquiring an additional 413,423 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Star Bulk Carriers by 359.3% during the third quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company’s stock worth $10,833,000 after acquiring an additional 357,720 shares during the last quarter. Institutional investors and hedge funds own 33.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SBLK. StockNews.com downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Jefferies Financial Group dropped their target price on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and boosted their target price for the stock from $19.30 to $20.20 in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.05.

Star Bulk Carriers Trading Up 0.7 %

NASDAQ SBLK opened at $15.63 on Friday. The stock has a 50-day simple moving average of $15.25 and a 200 day simple moving average of $18.22. The company has a market capitalization of $1.31 billion, a PE ratio of 5.45 and a beta of 0.95. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. Star Bulk Carriers Corp. has a 12 month low of $14.30 and a 12 month high of $27.47.

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

Star Bulk Carriers Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.36 annualized dividend and a dividend yield of 2.30%. Star Bulk Carriers’s dividend payout ratio (DPR) is currently 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.