Star Bulk Carriers Corp. (NASDAQ:SBLK) Short Interest Update

Star Bulk Carriers Corp. (NASDAQ:SBLK – Get Free Report) was the target of a big drop in short interest rates during the month of April. On April 30, there was short interest totaling 1,260,000 shares, a decrease of 34.7% from the total of 1,930,000 shares on April 15. Based on an average trading volume of 1,660,000 shares, the short interest ratio is currently 0.8 days.

Hedge funds weigh heavily on the star bulk carriers

Hedge funds have recently made changes to their positions in the company. Atlas Capital Advisors LLC bought a new position in shares of Star Bulk Carriers during the first quarter valued at approximately $36,000. VisionPoint Advisory Group LLC purchased a new position in shares of Star Bulk Carriers during the 4th quarter valued at approximately $36,000. Principal Securities Inc. bought a new position in shares of Star Bulk Carriers during the fourth quarter worth approximately $40,000. FinTrust Capital Advisors LLC grew its holdings in shares of Star Bulk Carriers by 100.0% in the first quarter. FinTrust Capital Advisors LLC now owns 2,000 shares of the shipping company’s stock worth $48,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new position in shares of Star Bulk Carriers in the fourth quarter worth approximately $50,000. 33.91% of the shares are held by institutional investors.

Wall Street analysts weigh in

Additionally, Stifel Nicolaus raised their price target on shares of Star Bulk Carriers from $76.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, February 14.

Read our latest stock analysis on Star Bulk Carriers

Inventory performance of star bulk carriers

Shares of SLK stock opened at $25.67 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.09 and a current ratio of 1.26. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 14.50 and a beta of 1.07. The company’s 50-day moving average price is $24.17 and its two-hundred-day moving average price is $21.99. Star Bulk Carriers has a 52-week low of $16.57 and a 52-week high of $26.54.

Star Bulk Carriers (NASDAQ:SBLK – Get Free Report) last reported its earnings results on Tuesday, February 13th. The shipping company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.16. The company had revenue of $263.46 million for the quarter, compared to the consensus estimate of $236.40 million. Star Bulk Carriers had a net margin of 18.28% and a return on equity of 9.77%. During the same period last year, the company posted earnings per share of $0.90. On average, analysts expect that Star Bulk Carriers will post earnings per share of 4.19 for the current fiscal year.

Star Bulk Carriers increases dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28. A dividend of $0.45 per share was paid to known shareholders on Tuesday, March 12. This is an increase from Star Bulk Carriers’ previous quarterly dividend of $0.22. This represents an annualized dividend of $1.80 and a yield of 7.01%. The ex-dividend date was Monday, March 11. Star Bulk Carriers’ dividend payout ratio (DPR) is 101.70%.

About Star Bulk Carriers

(Get a free report)

Star Bulk Carriers Corp., a shipping company, is engaged in the maritime transport of dry bulk cargoes worldwide. The ships transport a range of bulk commodities, including iron ore, minerals and grains, bauxite, fertilizers and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk carriers with a combined deadweight tonnage (dwt) of 13.1 million, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax and Supramax ships with loading capacity. between 53,489 dwt and 209,537 dwt.

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