Horizon Kinetics Asset Management LLC Decreases Stock Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Horizon Kinetics Asset Management LLC trimmed its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 12.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,637 shares of the shipping company’s stock after selling 5,520 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Star Bulk Carriers were worth $578,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SBLK. Philosophy Capital Management LLC purchased a new stake in shares of Star Bulk Carriers during the third quarter worth $24,842,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Star Bulk Carriers during the 3rd quarter valued at about $17,137,000. Barclays PLC raised its holdings 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 valued at $10,784,000 after acquiring an additional 449,113 shares during the last quarter. Stifel Financial Corp lifted its stake in Star Bulk Carriers by 152.2% in the 3rd quarter. Stifel Financial Corp now owns 685,053 shares of the shipping company’s stock worth $16,229,000 after purchasing an additional 413,423 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Star Bulk Carriers by 48.9% during the 4th quarter. Amundi now owns 1,174,566 shares of the shipping company’s stock worth $17,454,000 after purchasing an additional 385,980 shares during the last quarter. 33.91% of the stock is owned by institutional investors and hedge funds.

Star Bulk Carriers Stock Performance

Shares of Star Bulk Carriers stock opened at $16.55 on Tuesday. The firm has a market cap of $1.39 billion, a PE ratio of 5.77 and a beta of 1.03. The company has a quick ratio of 1.50, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. Star Bulk Carriers Corp. has a 52 week low of $14.30 and a 52 week high of $27.47. The business’s fifty day simple moving average is $15.45 and its 200-day simple moving average is $17.79.

Star Bulk Carriers (NASDAQ:SBLK) last posted its earnings results on Tuesday, February 18th. The shipping company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.08). Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The company had revenue of $308.92 million during the quarter, compared to analyst estimates of $230.91 million. Equities analysts forecast that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.36 annualized dividend and a yield of 2.18%. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 12.54%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SBLK shares. Jefferies Financial Group cut their price target on Star Bulk Carriers from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. DNB Markets upgraded Star Bulk Carriers from a “sell” rating to a “hold” rating and lifted their price target for the stock from $19.30 to $20.20 in a report on Thursday, November 21st. Finally, StockNews.com lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.05.

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.