Star Bulk Carriers Corp. (NASDAQ:SBLK) Stake Boosted by Sigma Planning Corp

Sigma Planning Corp grew its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLKGet Rating) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,878 shares of the shipping company’s stock after purchasing an additional 683 shares during the quarter. Sigma Planning Corp’s holdings in Star Bulk Carriers were worth $647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. bought a new position in Star Bulk Carriers in the 1st quarter worth approximately $26,000. GPS Wealth Strategies Group LLC bought a new position in Star Bulk Carriers in the 2nd quarter worth approximately $35,000. US Bancorp DE grew its holdings in Star Bulk Carriers by 360.0% in the 2nd quarter. US Bancorp DE now owns 2,300 shares of the shipping company’s stock worth $57,000 after buying an additional 1,800 shares in the last quarter. Vestor Capital LLC bought a new position in Star Bulk Carriers in the 2nd quarter worth approximately $70,000. Finally, Worth Asset Management LLC bought a new position in Star Bulk Carriers in the 1st quarter worth approximately $73,000. 52.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Star Bulk Carriers from $40.00 to $33.00 in a report on Thursday, October 27th. Pareto Securities upgraded Star Bulk Carriers from a “hold” rating to a “buy” rating in a research report on Tuesday, September 20th. StockNews.com began coverage on Star Bulk Carriers in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Jefferies Financial Group cut their target price on Star Bulk Carriers from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, September 26th.

Star Bulk Carriers Stock Performance

SBLK opened at $20.02 on Wednesday. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 2.63 and a beta of 0.98. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.07 and a quick ratio of 1.75. Star Bulk Carriers Corp. has a 1-year low of $16.85 and a 1-year high of $33.99. The business has a 50 day moving average price of $19.32 and a two-hundred day moving average price of $23.62.

Star Bulk Carriers Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Wednesday, November 30th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 23.98%. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 86.61%.

About Star Bulk Carriers

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Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

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Institutional Ownership by Quarter for Star Bulk Carriers (NASDAQ:SBLK)

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