AM Squared Ltd Invests $76,000 in Star Bulk Carriers Corp. (NASDAQ:SBLK)

AM Squared Ltd bought a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 3,200 shares of the shipping company’s stock, valued at approximately $76,000.

A number of other large investors have also recently made changes to their positions in the business. Ritholtz Wealth Management increased its holdings in shares of Star Bulk Carriers by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company’s stock worth $773,000 after buying an additional 890 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Star Bulk Carriers by 8.5% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 16,640 shares of the shipping company’s stock worth $406,000 after buying an additional 1,310 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Star Bulk Carriers in the 2nd quarter worth about $32,000. Blue Trust Inc. increased its holdings in shares of Star Bulk Carriers by 190.5% in the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock worth $49,000 after buying an additional 1,328 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. increased its holdings in shares of Star Bulk Carriers by 6.6% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 25,988 shares of the shipping company’s stock worth $634,000 after buying an additional 1,600 shares during the last quarter. 33.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SBLK shares. StockNews.com downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. DNB Markets cut shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Stifel Nicolaus cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and dropped their price target for the stock from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Star Bulk Carriers in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Star Bulk Carriers has an average rating of “Hold” and a consensus target price of $25.67.

Star Bulk Carriers Price Performance

Star Bulk Carriers stock opened at $20.29 on Friday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 7.46 and a beta of 1.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 1.34. Star Bulk Carriers Corp. has a 1 year low of $18.63 and a 1 year high of $27.47. The firm has a 50-day moving average of $20.83 and a two-hundred day moving average of $22.77.

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.