Star Bulk Carriers (NASDAQ:SBLK) Hits New 12-Month Low – Should You Sell?

Star Bulk Carriers Corp. (NASDAQ:SBLK) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $14.37 and last traded at $14.59, with a volume of 327249 shares trading hands. The stock had previously closed at $14.82.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com upgraded Star Bulk Carriers from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. DNB Markets raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating and lifted their price target for the company from $19.30 to $20.20 in a report on Thursday, November 21st. Stifel Nicolaus downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and dropped their price target for the company from $30.00 to $21.00 in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $28.00 price target on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.80.

Star Bulk Carriers Stock Performance

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 firm has a market capitalization of $1.25 billion, a P/E ratio of 5.02, a P/E/G ratio of 3.95 and a beta of 0.98. The stock has a fifty day simple moving average of $17.01 and a two-hundred day simple moving average of $20.24.

Star Bulk Carriers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Thursday, December 5th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 16.15%. The ex-dividend date of this dividend was Thursday, December 5th. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 81.08%.

Hedge Funds Weigh In On Star Bulk Carriers

A number of hedge funds have recently bought and sold shares of the company. Quarry LP boosted its holdings in Star Bulk Carriers by 39.8% during the third quarter. Quarry LP now owns 2,365 shares of the shipping company’s stock worth $56,000 after purchasing an additional 673 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Star Bulk Carriers by 2.8% in the third quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company’s stock valued at $773,000 after acquiring an additional 890 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Star Bulk Carriers by 190.5% in 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 last quarter. Avior Wealth Management LLC raised its holdings in shares of Star Bulk Carriers by 26.4% in the 3rd quarter. Avior Wealth Management LLC now owns 6,641 shares of the shipping company’s stock worth $157,000 after purchasing an additional 1,385 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of Star Bulk Carriers by 22.1% in the third quarter. Private Advisor Group LLC now owns 11,882 shares of the shipping company’s stock valued at $281,000 after buying an additional 2,152 shares during the period. 33.91% of the stock is owned by hedge funds and other institutional investors.

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.