Atria Wealth Solutions Inc. Sells 4,350 Shares of Star Bulk Carriers Corp. $SBLK

Atria Wealth Solutions Inc. decreased its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 30.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,113 shares of the shipping company’s stock after selling 4,350 shares during the period. Atria Wealth Solutions Inc.’s holdings in Star Bulk Carriers were worth $157,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Encompass Capital Advisors LLC lifted its stake in Star Bulk Carriers by 13.5% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,240,650 shares of the shipping company’s stock valued at $18,548,000 after purchasing an additional 147,659 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Star Bulk Carriers by 12.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 813,000 shares of the shipping company’s stock worth $12,154,000 after purchasing an additional 89,600 shares during the last quarter. Grand Alliance Asset Management Ltd grew its stake in shares of Star Bulk Carriers by 37.0% in the fourth quarter. Grand Alliance Asset Management Ltd now owns 740,000 shares of the shipping company’s stock worth $11,063,000 after purchasing an additional 200,000 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Star Bulk Carriers by 22.8% in the fourth quarter. Geode Capital Management LLC now owns 561,713 shares of the shipping company’s stock worth $8,398,000 after purchasing an additional 104,439 shares during the last quarter. Finally, Ramirez Asset Management Inc. grew its stake in shares of Star Bulk Carriers by 18.4% in the first quarter. Ramirez Asset Management Inc. now owns 502,529 shares of the shipping company’s stock worth $7,819,000 after purchasing an additional 78,241 shares during the last quarter. Institutional investors own 33.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Jefferies Financial Group reissued a “buy” rating and set a $22.00 target price on shares of Star Bulk Carriers in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Star Bulk Carriers currently has an average rating of “Hold” and an average price target of $22.30.

Star Bulk Carriers Stock Performance

Shares of SBLK stock opened at $18.66 on Monday. The firm’s 50-day simple moving average is $17.98 and its two-hundred day simple moving average is $16.32. Star Bulk Carriers Corp. has a 52 week low of $12.06 and a 52 week high of $23.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.42 and a current ratio of 1.61. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 17.77 and a beta of 0.94.

Star Bulk Carriers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Thursday, August 28th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $0.20 annualized dividend and a yield of 1.1%. Star Bulk Carriers’s payout ratio is currently 19.05%.

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.