Y Intercept Hong Kong Ltd Takes Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Y Intercept Hong Kong Ltd bought a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 27,372 shares of the shipping company’s stock, valued at approximately $648,000.

A number of other institutional investors have also bought and sold shares of the business. Quarry LP grew its position in shares of Star Bulk Carriers by 39.8% during the third quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock worth $56,000 after purchasing an additional 673 shares in the last quarter. Ritholtz Wealth Management grew its holdings in Star Bulk Carriers by 2.8% during the 3rd quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company’s stock valued at $773,000 after buying an additional 890 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Star Bulk Carriers by 8.5% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 16,640 shares of the shipping company’s stock valued at $406,000 after buying an additional 1,310 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Star Bulk Carriers in the second quarter worth $32,000. Finally, Blue Trust Inc. boosted its position in shares of Star Bulk Carriers by 190.5% during the third quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock worth $49,000 after acquiring an additional 1,328 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Trading Down 1.9 %

Shares of SBLK stock opened at $15.15 on Friday. The company has a market cap of $1.27 billion, a PE ratio of 5.12, a price-to-earnings-growth ratio of 4.04 and a beta of 0.96. Star Bulk Carriers Corp. has a 1 year low of $15.06 and a 1 year high of $27.47. The stock’s 50 day simple moving average is $19.01 and its two-hundred day simple moving average is $21.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.69 and a quick ratio of 1.50.

Star Bulk Carriers Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Thursday, December 5th will be given a $0.60 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.40 dividend on an annualized basis and a yield of 15.84%. Star Bulk Carriers’s dividend payout ratio is presently 81.08%.

Wall Street Analyst Weigh In

Several analysts have commented on SBLK shares. Jefferies Financial Group reiterated a “buy” rating and issued a $28.00 price target on shares of Star Bulk Carriers in a research note on Wednesday, November 20th. Stifel Nicolaus lowered Star Bulk Carriers from a “buy” rating to a “hold” rating and dropped their price target for the company from $30.00 to $21.00 in a research note on Wednesday, October 23rd. DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and raised their price target for the company from $19.30 to $20.20 in a report on Thursday, November 21st. StockNews.com downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Star Bulk Carriers in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Star Bulk Carriers presently has an average rating of “Hold” and a consensus price target of $23.80.

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.