Private Advisor Group LLC Purchases 2,152 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Private Advisor Group LLC increased its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 22.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,882 shares of the shipping company’s stock after buying an additional 2,152 shares during the period. Private Advisor Group LLC’s holdings in Star Bulk Carriers were worth $281,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC bought a new stake in shares of Star Bulk Carriers during the 2nd quarter worth $32,000. Blue Trust Inc. boosted its holdings in shares of Star Bulk Carriers by 190.5% during 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 period. Allspring Global Investments Holdings LLC bought a new stake in shares of Star Bulk Carriers during the 2nd quarter worth $54,000. Point72 DIFC Ltd bought a new stake in shares of Star Bulk Carriers during the 2nd quarter worth $72,000. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Star Bulk Carriers by 88.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 5,014 shares of the shipping company’s stock worth $122,000 after buying an additional 2,350 shares during the period. 33.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SBLK has been the subject of several recent analyst reports. DNB Markets downgraded shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and reduced their price target for the company from $30.00 to $21.00 in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Star Bulk Carriers in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Star Bulk Carriers currently has an average rating of “Hold” and a consensus target price of $25.67.

Star Bulk Carriers Price Performance

Shares of Star Bulk Carriers stock opened at $19.57 on Thursday. 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 fifty-two week low of $17.91 and a fifty-two week high of $27.47. The firm has a fifty day moving average price of $20.93 and a two-hundred day moving average price of $22.97. The company has a market cap of $1.64 billion, a PE ratio of 7.19 and a beta of 1.00.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The company had revenue of $352.88 million during the quarter, compared to the consensus estimate of $329.38 million. Star Bulk Carriers had a net margin of 24.05% and a return on equity of 13.58%. During the same period last year, the company earned $0.47 earnings per share. Analysts expect that Star Bulk Carriers Corp. will post 2.98 EPS for the current year.

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.