Gordian Capital Singapore Pte Ltd Takes Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 65,000 shares of the shipping company’s stock, valued at approximately $1,585,000. Star Bulk Carriers makes up approximately 0.8% of Gordian Capital Singapore Pte Ltd’s holdings, making the stock its 22nd biggest holding. Gordian Capital Singapore Pte Ltd owned 0.08% of Star Bulk Carriers as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of SBLK. Cambridge Investment Research Advisors Inc. boosted its position in Star Bulk Carriers by 17.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 70,154 shares of the shipping company’s stock valued at $1,491,000 after purchasing an additional 10,407 shares during the last quarter. Seven Eight Capital LP boosted its position in Star Bulk Carriers by 472.3% during the fourth quarter. Seven Eight Capital LP now owns 82,364 shares of the shipping company’s stock valued at $1,751,000 after purchasing an additional 67,973 shares during the last quarter. Capital Fund Management S.A. lifted its position in shares of Star Bulk Carriers by 1.7% in the fourth quarter. Capital Fund Management S.A. now owns 257,665 shares of the shipping company’s stock worth $5,478,000 after buying an additional 4,224 shares during the last quarter. Marketfield Asset Management LLC lifted its position in shares of Star Bulk Carriers by 42.9% in the fourth quarter. Marketfield Asset Management LLC now owns 172,145 shares of the shipping company’s stock worth $3,660,000 after buying an additional 51,639 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Star Bulk Carriers by 67.3% in the fourth quarter. GSA Capital Partners LLP now owns 171,520 shares of the shipping company’s stock worth $3,647,000 after buying an additional 68,999 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on Star Bulk Carriers in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective for the company.

Star Bulk Carriers Price Performance

SBLK stock opened at $23.59 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.34 and a current ratio of 1.51. Star Bulk Carriers Corp. has a 52-week low of $17.91 and a 52-week high of $27.47. The company has a fifty day moving average price of $21.56 and a 200-day moving average price of $23.58. The company has a market capitalization of $1.98 billion, a P/E ratio of 10.63 and a beta of 0.97.

Star Bulk Carriers (NASDAQ:SBLK) last released 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 firm had revenue of $352.88 million for the quarter, compared to analysts’ expectations of $329.38 million. During the same quarter in the previous year, the business earned $0.47 EPS. As a group, equities analysts expect that Star Bulk Carriers Corp. will post 3.32 EPS for the current 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. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 11.87%. Star Bulk Carriers’s payout ratio is currently 126.13%.

Star Bulk Carriers 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.