GSA Capital Partners LLP cut its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 83.5% in the fourth quarter, HoldingsChannel reports. The firm owned 54,994 shares of the shipping company’s stock after selling 277,636 shares during the quarter. GSA Capital Partners LLP’s holdings in Star Bulk Carriers were worth $503,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of SBLK. York Capital Management Global Advisors LLC purchased a new position in shares of Star Bulk Carriers in the third quarter valued at $79,189,000. Renaissance Technologies LLC grew its holdings in shares of Star Bulk Carriers by 40.1% in the third quarter. Renaissance Technologies LLC now owns 1,539,336 shares of the shipping company’s stock valued at $22,243,000 after purchasing an additional 440,437 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of Star Bulk Carriers in the third quarter valued at $6,209,000. Marshall Wace LLP grew its holdings in shares of Star Bulk Carriers by 85.8% in the third quarter. Marshall Wace LLP now owns 688,473 shares of the shipping company’s stock valued at $9,948,000 after purchasing an additional 317,857 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Star Bulk Carriers by 167.8% in the third quarter. Morgan Stanley now owns 339,742 shares of the shipping company’s stock valued at $4,909,000 after purchasing an additional 212,861 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.
SBLK has been the subject of a number of recent research reports. BidaskClub lowered shares of Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a report on Thursday, November 15th. Zacks Investment Research lowered shares of Star Bulk Carriers from a “hold” rating to a “strong sell” rating in a research note on Friday, November 30th. DNB Markets assumed coverage on shares of Star Bulk Carriers in a research note on Friday, January 4th. They set a “buy” rating for the company. Finally, Morgan Stanley lowered shares of Star Bulk Carriers from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $17.00.
Star Bulk Carriers (NASDAQ:SBLK) last issued its earnings results on Monday, February 11th. The shipping company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.06. The firm had revenue of $209.43 million during the quarter, compared to analyst estimates of $186.95 million. Star Bulk Carriers had a net margin of 9.05% and a return on equity of 7.65%. Analysts predict that Star Bulk Carriers Corp. will post 0.4 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 October 10, 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.
Further Reading: How to calculate the intrinsic value of a stock
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