Dakota Wealth Management Sells 2,701 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Dakota Wealth Management trimmed its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 3.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 77,453 shares of the shipping company’s stock after selling 2,701 shares during the quarter. Dakota Wealth Management’s holdings in Star Bulk Carriers were worth $1,835,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SBLK. International Assets Investment Management LLC bought a new stake in shares of Star Bulk Carriers during the third quarter valued at approximately $298,000. Private Advisor Group LLC boosted its stake in shares of Star Bulk Carriers by 22.1% in the 3rd quarter. Private Advisor Group LLC now owns 11,882 shares of the shipping company’s stock valued at $281,000 after purchasing an additional 2,152 shares during the last quarter. Glenorchy Capital Ltd grew its position in shares of Star Bulk Carriers by 19.1% during the 3rd quarter. Glenorchy Capital Ltd now owns 24,208 shares of the shipping company’s stock worth $573,000 after buying an additional 3,877 shares during the period. Blue Trust Inc. raised its stake 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 buying an additional 1,328 shares during the last quarter. Finally, nVerses Capital LLC lifted its holdings in Star Bulk Carriers by 39.7% in the third quarter. nVerses Capital LLC now owns 8,800 shares of the shipping company’s stock valued at $208,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 33.91% of the company’s stock.

Star Bulk Carriers Stock Up 0.6 %

Shares of SBLK stock opened at $19.35 on Friday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 7.11 and a beta of 0.98. Star Bulk Carriers Corp. has a 12-month low of $17.91 and a 12-month high of $27.47. The firm has a fifty day moving average of $21.25 and a 200-day moving average of $23.20. 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 released its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). The firm had revenue of $352.88 million during the quarter, compared to analyst estimates of $329.38 million. Star Bulk Carriers had a net margin of 24.05% and a return on equity of 13.58%. During the same period in the prior year, the business earned $0.47 EPS. As a group, equities research analysts predict that Star Bulk Carriers Corp. will post 3.47 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 14.47%. The ex-dividend date of this dividend was Tuesday, August 27th. Star Bulk Carriers’s dividend payout ratio (DPR) is currently 102.94%.

Wall Street Analyst Weigh In

SBLK has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Star Bulk Carriers in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target on the stock. DNB Markets downgraded shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $30.00 to $21.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.67.

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.