MQS Management LLC Has $288,000 Stock Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

MQS Management LLC cut its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 64.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,806 shares of the shipping company’s stock after selling 21,292 shares during the period. MQS Management LLC’s holdings in Star Bulk Carriers were worth $288,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in Star Bulk Carriers during the 2nd quarter worth approximately $32,000. Atlas Capital Advisors LLC acquired a new stake in shares of Star Bulk Carriers during the first quarter worth $36,000. Principal Securities Inc. bought a new stake in shares of Star Bulk Carriers in the fourth quarter valued at about $40,000. FinTrust Capital Advisors LLC grew its stake in shares of Star Bulk Carriers by 100.0% in the first quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock valued at $48,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Star Bulk Carriers during the second quarter worth about $54,000. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Price Performance

Shares of NASDAQ:SBLK opened at $21.59 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.81 billion, a PE ratio of 9.73 and a beta of 0.97. The firm has a 50 day moving average of $21.69 and a 200-day moving average of $23.64. Star Bulk Carriers Corp. has a 12 month low of $17.65 and a 12 month high of $27.47.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $352.88 million for the quarter, compared to the consensus estimate of $329.38 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. On average, equities research analysts predict that Star Bulk Carriers Corp. will post 3.32 EPS for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 12.97%. The ex-dividend date of this dividend was Tuesday, August 27th. Star Bulk Carriers’s payout ratio is 126.13%.

Analysts Set New Price Targets

A number of analysts have issued reports on SBLK shares. StockNews.com raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Stifel Nicolaus boosted their price target on Star Bulk Carriers from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Star Bulk Carriers in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target on the stock.

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.