Acadian Asset Management LLC purchased a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 253,088 shares of the shipping company’s stock, valued at approximately $3,657,000. Acadian Asset Management LLC owned approximately 0.38% of Star Bulk Carriers as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quantitative Systematic Strategies LLC purchased a new position in Star Bulk Carriers during the 2nd quarter valued at about $142,000. Cubist Systematic Strategies LLC purchased a new position in Star Bulk Carriers during the 1st quarter valued at about $180,000. FNY Investment Advisers LLC purchased a new position in Star Bulk Carriers during the 3rd quarter valued at about $285,000. Paloma Partners Management Co increased its holdings in Star Bulk Carriers by 27.8% during the 2nd quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock valued at $418,000 after acquiring an additional 7,074 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its holdings in Star Bulk Carriers by 164.5% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 34,226 shares of the shipping company’s stock valued at $440,000 after acquiring an additional 21,288 shares in the last quarter. Institutional investors and hedge funds own 68.09% of the company’s stock.
Several equities analysts have weighed in on the stock. Deutsche Bank set a $17.00 target price on shares of Star Bulk Carriers and gave the company a “buy” rating in a report on Thursday. BidaskClub downgraded shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Zacks Investment Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, July 17th. ValuEngine downgraded shares of Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a report on Tuesday. Finally, Seaport Global Securities restated a “buy” rating and set a $20.00 target price on shares of Star Bulk Carriers in a report on Sunday, August 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Star Bulk Carriers currently has an average rating of “Hold” and a consensus price target of $16.71.
Star Bulk Carriers stock opened at $10.58 on Friday. Star Bulk Carriers Corp. has a 12-month low of $8.62 and a 12-month high of $15.38. The stock has a market cap of $775.16 million, a price-to-earnings ratio of -48.09 and a beta of 2.59. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.46 and a current ratio of 1.59.
Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Tuesday, August 7th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Star Bulk Carriers had a net margin of 8.39% and a return on equity of 3.73%. The company had revenue of $132.60 million for the quarter, compared to analysts’ expectations of $122.37 million. As a group, equities research analysts expect that Star Bulk Carriers Corp. will post 1.22 EPS for the current fiscal year.
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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 August 29, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.
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