Impala Asset Management LLC lowered its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,631,526 shares of the shipping company’s stock after selling 195,676 shares during the period. Star Bulk Carriers makes up about 1.2% of Impala Asset Management LLC’s portfolio, making the stock its 19th largest position. Impala Asset Management LLC owned approximately 3.94% of Star Bulk Carriers worth $23,895,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in Star Bulk Carriers during the 3rd quarter valued at approximately $68,000. Cetera Advisor Networks LLC acquired a new position in shares of Star Bulk Carriers in the 4th quarter valued at $123,000. Citigroup Inc. lifted its stake in shares of Star Bulk Carriers by 13.0% in the 4th quarter. Citigroup Inc. now owns 14,890 shares of the shipping company’s stock valued at $136,000 after purchasing an additional 1,709 shares during the period. Sippican Capital Advisors lifted its stake in shares of Star Bulk Carriers by 13.2% in the 1st quarter. Sippican Capital Advisors now owns 18,178 shares of the shipping company’s stock valued at $120,000 after purchasing an additional 2,116 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in Star Bulk Carriers during the fourth quarter worth $301,000. 56.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SBLK traded up $0.38 during mid-day trading on Wednesday, reaching $8.81. The stock had a trading volume of 392,008 shares, compared to its average volume of 551,360. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.22 and a current ratio of 1.34. Star Bulk Carriers Corp. has a 52-week low of $6.16 and a 52-week high of $15.38. The company has a fifty day moving average of $7.95. The stock has a market capitalization of $813.03 million, a price-to-earnings ratio of 7.94 and a beta of 1.76.
Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data on Wednesday, May 22nd. The shipping company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). The firm had revenue of $166.49 million during the quarter, compared to analysts’ expectations of $154.10 million. Star Bulk Carriers had a net margin of 6.28% and a return on equity of 4.91%. As a group, research analysts forecast that Star Bulk Carriers Corp. will post -0.49 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on SBLK shares. BidaskClub raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Deutsche Bank set a $15.00 target price on shares of Star Bulk Carriers and gave the stock a “buy” rating in a report on Friday, May 24th. Finally, Zacks Investment Research raised shares of Star Bulk Carriers from a “sell” rating to a “hold” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Star Bulk Carriers currently has a consensus rating of “Buy” and a consensus price target of $17.00.
Star Bulk Carriers Profile
Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.
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