Susquehanna Portfolio Strategies LLC Reduces Stock Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Susquehanna Portfolio Strategies LLC cut its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 76.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,846 shares of the shipping company’s stock after selling 36,069 shares during the quarter. Star Bulk Carriers makes up approximately 0.5% of Susquehanna Portfolio Strategies LLC’s holdings, making the stock its 12th largest holding. Susquehanna Portfolio Strategies LLC’s holdings in Star Bulk Carriers were worth $162,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SBLK. Sowell Financial Services LLC acquired a new stake in shares of Star Bulk Carriers during the 4th quarter valued at approximately $904,000. Barclays PLC raised its position in shares of Star Bulk Carriers by 7,313.4% during the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company’s stock valued at $10,784,000 after acquiring an additional 449,113 shares in the last quarter. Blue Trust Inc. raised its position in shares of Star Bulk Carriers by 1,458.8% during the 4th quarter. Blue Trust Inc. now owns 31,565 shares of the shipping company’s stock valued at $472,000 after acquiring an additional 29,540 shares in the last quarter. Mariner LLC raised its position 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 valued at $727,000 after acquiring an additional 36,186 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Star Bulk Carriers during the 4th quarter valued at approximately $970,000. 33.91% of the stock is currently owned by institutional investors.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK opened at $16.40 on Friday. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $27.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50. The business’s fifty day moving average price is $15.06 and its two-hundred day moving average price is $15.86. The firm has a market capitalization of $1.93 billion, a PE ratio of 5.71 and a beta of 0.89.

Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.21. Star Bulk Carriers had a return on equity of 12.48% and a net margin of 24.08%. The firm had revenue of $159.28 million for the quarter, compared to analyst estimates of $162.57 million. During the same period last year, the company earned $0.87 earnings per share. On average, research analysts expect that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 6th. Star Bulk Carriers’s dividend payout ratio is presently 10.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SBLK shares. StockNews.com lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Jefferies Financial Group dropped their price target on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Star Bulk Carriers has a consensus rating of “Hold” and an average price target of $22.05.

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.