Chesapeake Capital Corp IL Trims Holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Chesapeake Capital Corp IL decreased its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 10.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,733 shares of the shipping company’s stock after selling 1,545 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Star Bulk Carriers were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SBLK. Ritholtz Wealth Management increased its position in Star Bulk Carriers by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 32,630 shares of the shipping company’s stock valued at $773,000 after acquiring an additional 890 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Star Bulk Carriers by 8.5% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 16,640 shares of the shipping company’s stock worth $406,000 after buying an additional 1,310 shares during the period. Nisa Investment Advisors LLC purchased a new position in shares of Star Bulk Carriers in the 2nd quarter worth $32,000. Blue Trust Inc. increased its holdings in Star Bulk Carriers by 190.5% in the 3rd quarter. Blue Trust Inc. now owns 2,025 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 1,328 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. increased its holdings in Star Bulk Carriers by 6.6% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 25,988 shares of the shipping company’s stock valued at $634,000 after purchasing an additional 1,600 shares in the last quarter. 33.91% of the stock is owned by institutional investors and hedge funds.

Star Bulk Carriers Stock Performance

SBLK opened at $20.29 on Monday. The business’s 50 day moving average is $20.83 and its 200-day moving average is $22.77. The stock has a market cap of $1.70 billion, a PE ratio of 7.46 and a beta of 1.00. The company has a current ratio of 1.51, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48. Star Bulk Carriers Corp. has a twelve month low of $18.63 and a twelve month high of $27.47.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SBLK shares. StockNews.com downgraded Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Star Bulk Carriers in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price for the company. DNB Markets downgraded Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus cut shares of Star Bulk Carriers from a “buy” rating to a “hold” rating and reduced their price target for the stock from $30.00 to $21.00 in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.67.

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 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.