Belpointe Asset Management LLC Purchases Shares of 3,672 Star Bulk Carriers Corp. (NASDAQ:SBLK)

Belpointe Asset Management LLC acquired a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,672 shares of the shipping company’s stock, valued at approximately $71,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Apollon Wealth Management LLC purchased a new position in shares of Star Bulk Carriers in the third quarter worth about $195,000. Seven Eight Capital LP purchased a new stake in Star Bulk Carriers during the 3rd quarter valued at $1,392,000. Atlas Capital Advisors LLC increased its position in shares of Star Bulk Carriers by 81.0% in the third quarter. Atlas Capital Advisors LLC now owns 10,132 shares of the shipping company’s stock valued at $177,000 after acquiring an additional 4,534 shares during the period. Sigma Planning Corp raised its stake in shares of Star Bulk Carriers by 10.7% during the third quarter. Sigma Planning Corp now owns 28,652 shares of the shipping company’s stock valued at $501,000 after acquiring an additional 2,774 shares during the last quarter. Finally, Paradiem LLC boosted its holdings in shares of Star Bulk Carriers by 15.9% during the fourth quarter. Paradiem LLC now owns 50,231 shares of the shipping company’s stock worth $966,000 after purchasing an additional 6,878 shares during the period. Institutional investors own 46.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of Star Bulk Carriers from $27.00 to $30.00 in a report on Tuesday, April 25th. Jefferies Financial Group reissued a “buy” rating and set a $26.00 price objective on shares of Star Bulk Carriers in a research report on Friday, February 17th. Finally, StockNews.com began coverage on shares of Star Bulk Carriers in a research report on Thursday. They set a “hold” rating on the stock.

Star Bulk Carriers Trading Down 0.3 %

SBLK opened at $18.90 on Monday. The stock has a market cap of $1.94 billion, a PE ratio of 4.40 and a beta of 1.04. The company has a quick ratio of 1.54, a current ratio of 1.64 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $20.48 and a 200-day moving average of $20.81. Star Bulk Carriers Corp. has a 52 week low of $16.85 and a 52 week high of $33.99.

Star Bulk Carriers (NASDAQ:SBLK – Get Rating) last released its earnings results on Thursday, February 16th. The shipping company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The company had revenue of $294.80 million during the quarter, compared to analysts’ expectations of $274.04 million. Star Bulk Carriers had a return on equity of 23.00% and a net margin of 33.95%. Equities research analysts predict that Star Bulk Carriers Corp. will post 2.88 earnings per share for the current fiscal year.

Star Bulk Carriers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 27th. Shareholders of record on Wednesday, June 7th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date of this dividend is Tuesday, June 6th. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 55.81%.

About Star Bulk Carriers

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Star Bulk Carriers Corp. provides seaborne transportation solutions in the dry bulk sector. The firm’s vessels transport major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. The company was founded by Petros Alexandros Pappas on December 13, 2006 and is headquartered in Athens, Greece.