Concurrent Investment Advisors LLC Sells 30,575 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Concurrent Investment Advisors LLC lessened its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 40.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,301 shares of the shipping company’s stock after selling 30,575 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Star Bulk Carriers were worth $677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SBLK. Blue Trust Inc. boosted its position in Star Bulk Carriers by 190.5% during the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock valued at $49,000 after acquiring an additional 1,328 shares in the last quarter. Private Advisor Group LLC boosted its position in Star Bulk Carriers by 22.1% during the 3rd quarter. Private Advisor Group LLC now owns 11,882 shares of the shipping company’s stock valued at $281,000 after acquiring an additional 2,152 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Star Bulk Carriers during the 3rd quarter valued at $298,000. J.W. Cole Advisors Inc. bought a new stake in Star Bulk Carriers during the 3rd quarter valued at $338,000. Finally, Autumn Glory Partners LLC purchased a new stake in shares of Star Bulk Carriers during the 3rd quarter valued at $649,000. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Performance

NASDAQ SBLK opened at $15.35 on Monday. Star Bulk Carriers Corp. has a fifty-two week low of $14.30 and a fifty-two week high of $27.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.65. The firm has a market capitalization of $1.29 billion, a P/E ratio of 5.35 and a beta of 0.95. The stock has a 50-day simple moving average of $15.18 and a two-hundred day simple moving average of $18.42.

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

Star Bulk Carriers Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Tuesday, March 4th. Star Bulk Carriers’s dividend payout ratio (DPR) is 12.54%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Jefferies Financial Group decreased their price objective on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and increased their price objective for the company from $19.30 to $20.20 in a report on Thursday, November 21st. Finally, StockNews.com lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $22.05.

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.