Larson Financial Group LLC Grows Stock Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Larson Financial Group LLC grew its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 696.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,845 shares of the shipping company’s stock after buying an additional 5,986 shares during the quarter. Larson Financial Group LLC’s holdings in Star Bulk Carriers were worth $162,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new stake in Star Bulk Carriers during the second quarter worth approximately $32,000. Blue Trust Inc. lifted 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 purchasing an additional 1,328 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Star Bulk Carriers during the second quarter worth $54,000. Point72 DIFC Ltd acquired a new position in shares of Star Bulk Carriers during the second quarter worth $72,000. Finally, AM Squared Ltd acquired a new position in shares of Star Bulk Carriers during the third quarter worth $76,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SBLK shares. Jefferies Financial Group reissued a “buy” rating and set a $28.00 target price on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. DNB Markets raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and boosted their target price for the stock from $19.30 to $20.20 in a research report on Thursday, November 21st. Stifel Nicolaus cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and reduced their target price for the stock from $30.00 to $21.00 in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Star Bulk Carriers in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price on the stock. Finally, StockNews.com raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Star Bulk Carriers currently has a consensus rating of “Moderate Buy” and an average target price of $23.80.

Star Bulk Carriers Trading Down 2.7 %

SBLK opened at $17.55 on Friday. The stock has a market capitalization of $1.47 billion, a PE ratio of 5.93, a P/E/G ratio of 4.86 and a beta of 1.00. The firm’s fifty day moving average price is $20.46 and its 200 day moving average price is $22.37. 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 Corp. has a 12-month low of $17.22 and a 12-month high of $27.47.

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 issued a $0.60 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.40 annualized dividend and a yield of 13.68%. Star Bulk Carriers’s dividend payout ratio is presently 94.59%.

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.