GSA Capital Partners LLP Has $2.50 Million Stock Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

GSA Capital Partners LLP lifted its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 177.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,378 shares of the shipping company’s stock after buying an additional 102,619 shares during the period. Star Bulk Carriers comprises 0.2% of GSA Capital Partners LLP’s holdings, making the stock its 28th largest position. GSA Capital Partners LLP’s holdings in Star Bulk Carriers were worth $2,495,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SBLK. Praetorian PR LLC bought a new stake in shares of Star Bulk Carriers in the 4th quarter valued at $6,267,000. Norges Bank bought a new stake in shares of Star Bulk Carriers in the 4th quarter valued at $3,530,000. Millennium Management LLC increased its position in shares of Star Bulk Carriers by 97.2% in the 4th quarter. Millennium Management LLC now owns 436,244 shares of the shipping company’s stock valued at $6,522,000 after buying an additional 215,074 shares in the last quarter. Grand Alliance Asset Management Ltd increased its position in shares of Star Bulk Carriers by 37.0% in the 4th quarter. Grand Alliance Asset Management Ltd now owns 740,000 shares of the shipping company’s stock valued at $11,063,000 after buying an additional 200,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Star Bulk Carriers by 39,904.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 175,219 shares of the shipping company’s stock valued at $2,620,000 after buying an additional 174,781 shares in the last quarter. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK opened at $18.85 on Tuesday. The firm has a market cap of $2.22 billion, a PE ratio of 9.52 and a beta of 0.93. The company has a current ratio of 1.65, a quick ratio of 1.47 and a debt-to-equity ratio of 0.42. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $23.82. The company has a fifty day moving average price of $17.28 and a 200 day moving average price of $15.94.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.21. The firm had revenue of $159.28 million during the quarter, compared to analyst estimates of $162.57 million. Star Bulk Carriers had a net margin of 18.62% and a return on equity of 8.20%. During the same period in the prior year, the business earned $0.87 EPS. Research analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current fiscal year.

Star Bulk Carriers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, June 6th. Star Bulk Carriers’s payout ratio is presently 10.10%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Star Bulk Carriers has an average rating of “Hold” and a consensus target price of $22.05.

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.