XTX Topco Ltd Acquires New Shares in Star Bulk Carriers Corp. (NASDAQ:SBLK)

XTX Topco Ltd purchased a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) during the 4th quarter, HoldingsChannel reports. The firm purchased 35,605 shares of the shipping company’s stock, valued at approximately $532,000.

Several other hedge funds have also recently bought and sold shares of SBLK. Mariner LLC boosted its stake in shares of Star Bulk Carriers by 290.6% during the 4th quarter. Mariner LLC now owns 48,637 shares of the shipping company’s stock worth $727,000 after acquiring an additional 36,186 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Star Bulk Carriers in the 4th quarter worth approximately $970,000. Advisory Services Network LLC boosted its position in Star Bulk Carriers by 131.6% during the fourth quarter. Advisory Services Network LLC now owns 23,526 shares of the shipping company’s stock worth $352,000 after purchasing an additional 13,370 shares during the period. Aristides Capital LLC acquired a new position in Star Bulk Carriers during the fourth quarter valued at approximately $208,000. Finally, Russell Investments Group Ltd. raised its position in shares of Star Bulk Carriers by 8.2% in the fourth quarter. Russell Investments Group Ltd. now owns 329,342 shares of the shipping company’s stock valued at $4,924,000 after purchasing an additional 24,835 shares during the period. 33.91% of the stock is owned by institutional investors and hedge funds.

Star Bulk Carriers Stock Up 1.8 %

Shares of SBLK stock opened at $13.79 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $27.47. The stock has a 50 day moving average of $15.29 and a 200-day moving average of $16.62. The firm has a market cap of $1.62 billion, a PE ratio of 4.80 and a beta of 0.77.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.08). The firm had revenue of $308.92 million during the quarter, compared to the consensus estimate of $230.91 million. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. On average, equities analysts predict that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Tuesday, March 4th. Star Bulk Carriers’s payout ratio is 12.54%.

Analyst Ratings Changes

Several research firms recently issued reports on SBLK. Jefferies Financial Group decreased their price objective on shares of Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. StockNews.com lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Star Bulk Carriers 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.