Avior Wealth Management LLC Raises Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Avior Wealth Management LLC grew its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 110.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,947 shares of the shipping company’s stock after buying an additional 7,306 shares during the quarter. Avior Wealth Management LLC’s holdings in Star Bulk Carriers were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Star Bulk Carriers by 229.6% in the 3rd quarter. FMR LLC now owns 404,196 shares of the shipping company’s stock worth $9,575,000 after purchasing an additional 281,552 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Star Bulk Carriers by 359.3% during the third quarter. Geode Capital Management LLC now owns 457,274 shares of the shipping company’s stock valued at $10,833,000 after buying an additional 357,720 shares during the last quarter. Barclays PLC raised its position in Star Bulk Carriers by 7,313.4% in the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company’s stock worth $10,784,000 after buying an additional 449,113 shares during the last quarter. Autumn Glory Partners LLC bought a new position in Star Bulk Carriers during the 3rd quarter valued at about $649,000. Finally, Benson Investment Management Company Inc. purchased a new stake in shares of Star Bulk Carriers during the 3rd quarter valued at about $5,259,000. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Trading Up 0.4 %

Shares of Star Bulk Carriers stock opened at $14.87 on Tuesday. Star Bulk Carriers Corp. has a 1-year low of $14.30 and a 1-year high of $27.47. The company’s fifty day simple moving average is $15.92 and its 200-day simple moving average is $19.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.69 and a quick ratio of 1.50. The stock has a market capitalization of $1.25 billion, a PE ratio of 5.02, a P/E/G ratio of 4.30 and a beta of 0.98.

Star Bulk Carriers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 16.14%. The ex-dividend date was Thursday, December 5th. Star Bulk Carriers’s dividend payout ratio is presently 81.08%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBLK. Jefferies Financial Group reissued a “buy” rating and set a $28.00 price objective on shares of Star Bulk Carriers in a report on Wednesday, November 20th. DNB Markets raised Star Bulk Carriers from a “sell” rating to a “hold” rating and increased their price target for the company from $19.30 to $20.20 in a report on Thursday, November 21st. Stifel Nicolaus lowered Star Bulk Carriers from a “buy” rating to a “hold” rating and cut their price objective for the stock from $30.00 to $21.00 in a report on Wednesday, October 23rd. Finally, StockNews.com cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.80.

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.