Silvercrest Asset Management Group LLC Buys 21,489 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Silvercrest Asset Management Group LLC grew its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 40.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,159 shares of the shipping company’s stock after purchasing an additional 21,489 shares during the period. Silvercrest Asset Management Group LLC owned about 0.09% of Star Bulk Carriers worth $1,109,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich bought a new position in Star Bulk Carriers in the fourth quarter worth $28,000. Parkside Financial Bank & Trust acquired a new stake in shares of Star Bulk Carriers during the 4th quarter valued at about $30,000. Capital Analysts LLC increased its stake in Star Bulk Carriers by 215.9% in the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 1,561 shares during the period. Steward Partners Investment Advisory LLC raised its position in Star Bulk Carriers by 177.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company’s stock worth $39,000 after purchasing an additional 1,676 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. bought a new position in Star Bulk Carriers during the fourth quarter worth about $45,000. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Performance

NASDAQ SBLK opened at $16.48 on Wednesday. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $27.47. The company has a 50 day moving average of $15.05 and a 200-day moving average of $15.83. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 5.74 and a beta of 0.89.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.21. The firm had revenue of $159.28 million during the quarter, compared to analysts’ expectations of $162.57 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. During the same period last year, the firm posted $0.87 EPS. On average, equities analysts forecast that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.

Star Bulk Carriers Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 6th. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 10.10%.

Analyst Upgrades and Downgrades

SBLK has been the topic of several analyst reports. Jefferies Financial Group lowered their price objective on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. StockNews.com lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.05.

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.