Squarepoint Ops LLC Has $751,000 Stake in Star Bulk Carriers Corp. $SBLK

Squarepoint Ops LLC cut its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 51.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,551 shares of the shipping company’s stock after selling 47,018 shares during the quarter. Squarepoint Ops LLC’s holdings in Star Bulk Carriers were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of SBLK. Grand Alliance Asset Management Ltd raised its position in Star Bulk Carriers by 5.4% in the 1st quarter. Grand Alliance Asset Management Ltd now owns 780,000 shares of the shipping company’s stock valued at $12,137,000 after buying an additional 40,000 shares during the last quarter. Vident Advisory LLC grew its stake in shares of Star Bulk Carriers by 253.1% in the 1st quarter. Vident Advisory LLC now owns 78,017 shares of the shipping company’s stock worth $1,214,000 after acquiring an additional 55,923 shares in the last quarter. Amundi raised its holdings in shares of Star Bulk Carriers by 59.1% in the first quarter. Amundi now owns 1,868,249 shares of the shipping company’s stock valued at $26,548,000 after purchasing an additional 693,683 shares during the last quarter. 683 Capital Management LLC bought a new position in shares of Star Bulk Carriers during the first quarter valued at about $4,668,000. Finally, Capital Advisory Group Advisory Services LLC purchased a new position in Star Bulk Carriers during the second quarter worth about $2,052,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Price Performance

Star Bulk Carriers stock opened at $18.89 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The business’s 50 day simple moving average is $18.76 and its 200 day simple moving average is $18.53. Star Bulk Carriers Corp. has a 12 month low of $12.06 and a 12 month high of $20.87. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 36.33 and a beta of 0.75.

Star Bulk Carriers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Friday, December 5th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, December 5th. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.05. Star Bulk Carriers’s dividend payout ratio is currently 84.62%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating and set a $22.00 target price on shares of Star Bulk Carriers in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Star Bulk Carriers has a consensus rating of “Hold” and an average target price of $22.00.

About Star Bulk Carriers

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.