Star Bulk Carriers Corp. (NASDAQ:SBLK) Stock Position Lowered by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC cut its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 21.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,377 shares of the shipping company’s stock after selling 34,353 shares during the quarter. Relyea Zuckerberg Hanson LLC owned about 0.15% of Star Bulk Carriers worth $1,874,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

SBLK has been the subject of several recent analyst reports. Stifel Nicolaus cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and decreased their target price for the stock from $30.00 to $21.00 in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and increased their target price for the company from $19.30 to $20.20 in a report on Thursday, November 21st. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $28.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.80.

Star Bulk Carriers Stock Performance

Star Bulk Carriers stock traded up $0.17 during mid-day trading on Friday, reaching $14.89. The company had a trading volume of 228,919 shares, compared to its average volume of 1,743,433. The company has a 50 day moving average of $16.57 and a 200-day moving average of $19.92. Star Bulk Carriers Corp. has a 52 week low of $14.37 and a 52 week high of $27.47. The company has a quick ratio of 1.50, a current ratio of 1.69 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 5.02, a PEG ratio of 4.57 and a beta of 0.98.

Star Bulk Carriers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Thursday, December 5th were given a $0.60 dividend. The ex-dividend date was Thursday, December 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 16.11%. Star Bulk Carriers’s dividend payout ratio is currently 81.08%.

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.