35,503 Shares in Star Bulk Carriers Corp. (NASDAQ:SBLK) Bought by Golden State Wealth Management LLC

Golden State Wealth Management LLC acquired a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 35,503 shares of the shipping company’s stock, valued at approximately $531,000.

Several other institutional investors have also bought and sold shares of the stock. FMR LLC boosted its position in Star Bulk Carriers by 229.6% in the third quarter. FMR LLC now owns 404,196 shares of the shipping company’s stock worth $9,575,000 after purchasing an additional 281,552 shares during the last quarter. Geode Capital Management LLC grew its stake in Star Bulk Carriers by 359.3% in the 3rd quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company’s stock valued at $10,833,000 after buying an additional 357,720 shares in the last quarter. Barclays PLC boosted its holdings in shares of Star Bulk Carriers by 7,313.4% in the third quarter. Barclays PLC now owns 455,254 shares of the shipping company’s stock worth $10,784,000 after acquiring an additional 449,113 shares during the period. Autumn Glory Partners LLC purchased a new stake in Star Bulk Carriers during the 3rd quarter worth about $649,000. Finally, Benson Investment Management Company Inc. bought a new position in shares of Star Bulk Carriers in the third quarter valued at approximately $5,259,000. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Performance

NASDAQ:SBLK opened at $15.38 on Friday. The stock’s 50 day simple moving average is $15.30 and its two-hundred day simple moving average is $18.97. Star Bulk Carriers Corp. has a 1 year low of $14.30 and a 1 year high of $27.47. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.69 and a quick ratio of 1.50. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 5.20 and a beta of 0.95.

Star Bulk Carriers Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Thursday, December 5th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $2.40 annualized dividend and a yield of 15.60%. Star Bulk Carriers’s payout ratio is 81.08%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SBLK shares. StockNews.com lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $28.00 price objective on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. DNB Markets raised Star Bulk Carriers from a “sell” rating to a “hold” rating and raised their price target for the stock from $19.30 to $20.20 in a research note on Thursday, November 21st. Finally, Stifel Nicolaus cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and lowered their price target for the company from $30.00 to $21.00 in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.80.

Star Bulk Carriers Company 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.