Mainstay Capital Management LLC ADV Reduces Stock Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

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Mainstay Capital Management LLC ADV lowered its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 23.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,655 shares of the shipping company’s stock after selling 5,325 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Star Bulk Carriers were worth $209,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SBLK. Tower Research Capital LLC TRC purchased a new position in Star Bulk Carriers in the third quarter worth approximately $32,000. Kistler Tiffany Companies LLC increased its stake in Star Bulk Carriers by 100.0% in the 4th quarter. Kistler Tiffany Companies LLC now owns 4,000 shares of the shipping company’s stock valued at $44,000 after buying an additional 2,000 shares during the period. Marshall Wace North America L.P. acquired a new position in Star Bulk Carriers in the 1st quarter valued at $47,000. Wells Fargo & Company MN acquired a new position in Star Bulk Carriers in the 2nd quarter valued at $102,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Star Bulk Carriers in the 2nd quarter valued at $139,000. Institutional investors own 54.75% of the company’s stock.

Shares of SBLK stock opened at $10.62 on Tuesday. The stock’s fifty day simple moving average is $11.11 and its 200 day simple moving average is $10.57. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.64. The firm has a market cap of $974.31 million, a price-to-earnings ratio of -34.26 and a beta of 1.67. Star Bulk Carriers Corp. has a one year low of $6.16 and a one year high of $12.09.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, November 20th. The shipping company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Star Bulk Carriers had a positive return on equity of 1.24% and a negative net margin of 3.50%. The business had revenue of $248.44 million for the quarter, compared to analyst estimates of $215.35 million. On average, research analysts anticipate that Star Bulk Carriers Corp. will post 0.09 earnings per share for the current year.

Several equities analysts recently issued reports on the company. BidaskClub cut Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Pareto Securities cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. ValuEngine upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating in a research report on Saturday, January 4th. Finally, Zacks Investment Research upgraded Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.50.

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 major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.

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Institutional Ownership by Quarter for Star Bulk Carriers (NASDAQ:SBLK)

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