nVerses Capital LLC Purchases New Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

nVerses Capital LLC bought a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,300 shares of the shipping company’s stock, valued at approximately $154,000.

A number of other large investors have also bought and sold shares of SBLK. Artemis Investment Management LLP grew its stake in shares of Star Bulk Carriers by 29.4% during the 2nd quarter. Artemis Investment Management LLP now owns 1,025,802 shares of the shipping company’s stock worth $25,009,000 after acquiring an additional 233,000 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Star Bulk Carriers in the second quarter valued at $23,212,000. Grand Alliance Asset Management Ltd bought a new position in shares of Star Bulk Carriers in the fourth quarter valued at $12,756,000. Gilman Hill Asset Management LLC grew its stake in shares of Star Bulk Carriers by 0.3% in the first quarter. Gilman Hill Asset Management LLC now owns 404,110 shares of the shipping company’s stock valued at $9,646,000 after buying an additional 1,046 shares in the last quarter. Finally, DNB Asset Management AS bought a new position in shares of Star Bulk Carriers in the second quarter valued at $9,694,000. 33.91% of the stock is owned by institutional investors.

Star Bulk Carriers Stock Up 0.2 %

SBLK opened at $21.37 on Tuesday. Star Bulk Carriers Corp. has a fifty-two week low of $17.12 and a fifty-two week high of $27.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.34 and a current ratio of 1.51. The company has a market capitalization of $1.80 billion, a P/E ratio of 9.63 and a beta of 0.96. The stock has a fifty day moving average of $22.76 and a 200-day moving average of $23.89.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.78 EPS 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 analyst estimates 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 firm earned $0.47 EPS. On average, equities analysts expect that Star Bulk Carriers Corp. will post 3.47 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Tuesday, August 27th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 13.10%. The ex-dividend date of this dividend is Tuesday, August 27th. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 126.13%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Stifel Nicolaus raised their price target on Star Bulk Carriers from $28.00 to $32.00 and gave the company a “buy” rating in a report on Friday, May 24th. StockNews.com raised Star Bulk Carriers from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $30.00 price target on shares of Star Bulk Carriers in a report on Thursday, May 23rd.

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.