Marshall Wace LLP Sells 280,844 Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK)

Marshall Wace LLP trimmed its position in Star Bulk Carriers Corp. (NASDAQ:SBLK – Get Rating) by 38.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 450,489 shares of the shipping company’s stock after selling 280,844 shares during the period. Marshall Wace LLP owned 0.44% of Star Bulk Carriers worth $7,874,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in Star Bulk Carriers during the 2nd quarter worth $207,000. Apollon Wealth Management LLC bought a new position in Star Bulk Carriers during the 3rd quarter worth $195,000. Seven Eight Capital LP bought a new position in Star Bulk Carriers during the 3rd quarter worth $1,392,000. Atlas Capital Advisors LLC grew its holdings in Star Bulk Carriers by 81.0% during the 3rd quarter. Atlas Capital Advisors LLC now owns 10,132 shares of the shipping company’s stock worth $177,000 after acquiring an additional 4,534 shares during the period. Finally, CFM Wealth Partners LLC acquired a new stake in Star Bulk Carriers during the 3rd quarter worth about $874,000. 46.29% of the stock is currently owned by institutional investors.

Star Bulk Carriers Stock Performance

Shares of Star Bulk Carriers stock opened at $21.68 on Friday. The company has a current ratio of 1.78, a quick ratio of 2.10 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $22.05 and a two-hundred day moving average price of $20.47. Star Bulk Carriers Corp. has a 1-year low of $16.85 and a 1-year high of $33.99. The company has a market cap of $2.22 billion, a P/E ratio of 3.92 and a beta of 1.09.

Star Bulk Carriers Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 14th. Stockholders of record on Tuesday, February 28th will be paid a $0.60 dividend. The ex-dividend date is Monday, February 27th. This represents a $2.40 annualized dividend and a dividend yield of 11.07%. Star Bulk Carriers’s dividend payout ratio is presently 43.40%.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $26.00 price target on shares of Star Bulk Carriers in a report on Friday, February 17th.

Star Bulk Carriers Profile

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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.