Star Bulk Carriers (NASDAQ:SBLK) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Star Bulk Carriers (NASDAQ:SBLK – Get Rating) in a research note released on Thursday. The brokerage issued a hold rating on the shipping company’s stock.

Separately, Jefferies Financial Group reissued a buy rating and set a $26.00 price target on shares of Star Bulk Carriers in a research note on Friday, February 17th.

Star Bulk Carriers Price Performance

SBLK opened at $20.46 on Thursday. Star Bulk Carriers has a one year low of $16.85 and a one year high of $33.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.78 and a quick ratio of 1.54. The company’s 50 day simple moving average is $22.30 and its 200-day simple moving average is $20.46. The stock has a market capitalization of $2.09 billion, a P/E ratio of 3.70 and a beta of 1.09.

Star Bulk Carriers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 14th. Shareholders of record on Tuesday, February 28th were paid a $0.60 dividend. The ex-dividend date was Monday, February 27th. This represents a $2.40 dividend on an annualized basis and a yield of 11.73%. Star Bulk Carriers’s payout ratio is presently 43.40%.

Hedge Funds Weigh In On Star Bulk Carriers

A number of hedge funds and other institutional investors have recently bought and sold shares of SBLK. JPMorgan Chase & Co. boosted its position in shares of Star Bulk Carriers by 861.2% during the first quarter. JPMorgan Chase & Co. now owns 130,578 shares of the shipping company’s stock worth $3,877,000 after purchasing an additional 116,993 shares in the last quarter. Raymond James & Associates boosted its position in shares of Star Bulk Carriers by 101.2% during the first quarter. Raymond James & Associates now owns 72,627 shares of the shipping company’s stock worth $2,156,000 after purchasing an additional 36,528 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Star Bulk Carriers during the first quarter worth $290,000. PNC Financial Services Group Inc. bought a new position in shares of Star Bulk Carriers during the first quarter worth $630,000. Finally, BlackRock Inc. boosted its position in shares of Star Bulk Carriers by 46.1% during the first quarter. BlackRock Inc. now owns 791,111 shares of the shipping company’s stock worth $23,488,000 after purchasing an additional 249,770 shares in the last quarter. 46.29% of the stock is owned by institutional investors.

Star Bulk Carriers Company Profile

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Star Bulk Carriers Corp. provides seaborne transportation solutions in the dry bulk sector. The firm’s vessels transport major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. The company was founded by Petros Alexandros Pappas on December 13, 2006 and is headquartered in Athens, Greece.