Star Bulk Carriers Corp. $SBLK Holdings Decreased by Oaktree Capital Management LP

Oaktree Capital Management LP lessened its stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 39.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,962,892 shares of the shipping company’s stock after selling 1,267,635 shares during the period. Oaktree Capital Management LP’s holdings in Star Bulk Carriers were worth $36,490,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SBLK. Royal Bank of Canada raised its position in shares of Star Bulk Carriers by 94.3% during the 1st quarter. Royal Bank of Canada now owns 117,275 shares of the shipping company’s stock worth $1,825,000 after buying an additional 56,930 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Star Bulk Carriers by 59.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company’s stock valued at $20,204,000 after acquiring an additional 485,436 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Star Bulk Carriers by 2.3% during the second quarter. Geode Capital Management LLC now owns 122,115 shares of the shipping company’s stock valued at $2,106,000 after acquiring an additional 2,748 shares during the period. Financial Gravity Companies Inc. acquired a new position in shares of Star Bulk Carriers during the second quarter valued at approximately $139,000. Finally, Raiffeisen Bank International AG raised its holdings in Star Bulk Carriers by 14.1% during the second quarter. Raiffeisen Bank International AG now owns 64,119 shares of the shipping company’s stock worth $1,096,000 after purchasing an additional 7,918 shares in the last quarter. Institutional investors and hedge funds own 33.91% of the company’s stock.

Star Bulk Carriers Price Performance

Star Bulk Carriers stock traded down $0.15 during mid-day trading on Friday, hitting $22.01. The company’s stock had a trading volume of 253,119 shares, compared to its average volume of 1,640,058. The stock has a market capitalization of $2.59 billion, a P/E ratio of 30.13 and a beta of 0.73. Star Bulk Carriers Corp. has a twelve month low of $12.06 and a twelve month high of $27.20. The stock’s fifty day moving average price is $22.80 and its two-hundred day moving average price is $20.22. The company has a quick ratio of 1.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. The company had revenue of $230.79 million during the quarter, compared to the consensus estimate of $250.51 million. Star Bulk Carriers had a return on equity of 3.90% and a net margin of 8.07%. Research analysts forecast that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 9th will be issued a $0.37 dividend. The ex-dividend date is Monday, March 9th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.11. This represents a $1.48 annualized dividend and a dividend yield of 6.7%. Star Bulk Carriers’s dividend payout ratio is 202.74%.

Wall Street Analyst Weigh In

SBLK has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Star Bulk Carriers currently has an average rating of “Hold” and a consensus target price of $22.00.

Star Bulk Carriers Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.