Star Bulk Carriers Corp. (NASDAQ:SBLK) Stock Position Raised by Private Advisor Group LLC

Private Advisor Group LLC lifted its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 22.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,882 shares of the shipping company’s stock after acquiring an additional 2,152 shares during the quarter. Private Advisor Group LLC’s holdings in Star Bulk Carriers were worth $281,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SBLK. Bank of New York Mellon Corp purchased a new stake in shares of Star Bulk Carriers in the 2nd quarter valued at approximately $23,212,000. Millennium Management LLC lifted its position in shares of Star Bulk Carriers by 335.4% in the 2nd quarter. Millennium Management LLC now owns 1,221,255 shares of the shipping company’s stock valued at $29,774,000 after acquiring an additional 940,745 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Star Bulk Carriers by 101.8% in the 2nd quarter. Marshall Wace LLP now owns 1,791,426 shares of the shipping company’s stock valued at $43,675,000 after acquiring an additional 903,542 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Star Bulk Carriers in the 2nd quarter valued at approximately $11,719,000. Finally, Encompass Capital Advisors LLC lifted its position in shares of Star Bulk Carriers by 27.5% in the 2nd quarter. Encompass Capital Advisors LLC now owns 2,052,262 shares of the shipping company’s stock valued at $50,034,000 after acquiring an additional 442,860 shares in the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and reduced their price target for the company from $30.00 to $21.00 in a research report on Wednesday, October 23rd. DNB Markets lowered shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.67.

Star Bulk Carriers Stock Performance

Shares of SBLK opened at $19.57 on Thursday. The company’s fifty day moving average is $20.93 and its 200-day moving average is $22.97. Star Bulk Carriers Corp. has a 12 month low of $17.91 and a 12 month high of $27.47. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 7.19 and a beta of 1.00. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.48.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.78 EPS 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 analyst estimates of $329.38 million. During the same quarter last year, the company earned $0.47 EPS. Equities analysts expect that Star Bulk Carriers Corp. will post 2.98 EPS for the current fiscal year.

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.