118,937 Shares in Star Bulk Carriers Corp. $SBLK Acquired by Capital Advisory Group Advisory Services LLC

Capital Advisory Group Advisory Services LLC purchased a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) during the second quarter, according to its most recent filing with the SEC. The firm purchased 118,937 shares of the shipping company’s stock, valued at approximately $2,052,000. Capital Advisory Group Advisory Services LLC owned 0.10% of Star Bulk Carriers at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Star Bulk Carriers by 1,456.0% in the 1st quarter. GAMMA Investing LLC now owns 3,112 shares of the shipping company’s stock valued at $48,000 after acquiring an additional 2,912 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Star Bulk Carriers in the 1st quarter valued at $67,000. Mountain Hill Investment Partners Corp. increased its holdings in shares of Star Bulk Carriers by 66.7% in the 1st quarter. Mountain Hill Investment Partners Corp. now owns 5,000 shares of the shipping company’s stock valued at $78,000 after acquiring an additional 2,000 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in shares of Star Bulk Carriers in the 1st quarter valued at $125,000. Finally, Man Group plc purchased a new position in shares of Star Bulk Carriers in the 4th quarter valued at $154,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Star Bulk Carriers Stock Up 2.5%

Shares of SBLK opened at $19.79 on Thursday. Star Bulk Carriers Corp. has a 52 week low of $12.06 and a 52 week high of $23.82. The company has a quick ratio of 1.42, a current ratio of 1.61 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 18.85 and a beta of 0.97. The stock’s 50-day moving average price is $18.87 and its 200-day moving average price is $16.86.

Star Bulk Carriers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Thursday, August 28th were paid a $0.05 dividend. The ex-dividend date was Thursday, August 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. Star Bulk Carriers’s dividend payout ratio is presently 19.05%.

Analyst Ratings Changes

SBLK has been the topic of a number of analyst reports. Zacks Research upgraded Star Bulk Carriers from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price target on shares of Star Bulk Carriers in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Star Bulk Carriers presently has an average rating of “Hold” and an average price target of $21.07.

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.