Star Bulk Carriers’ (SBLK) “Buy” Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Star Bulk Carriers (NASDAQ:SBLK) in a report released on Thursday, Benzinga reports. They currently have a $30.00 price objective on the shipping company’s stock.

Separately, Stifel Nicolaus raised their target price on shares of Star Bulk Carriers from $76.00 to $83.00 and gave the company a buy rating in a research note on Wednesday, February 14th.

Star Bulk Carriers Price Performance

Shares of NASDAQ SBLK opened at $26.09 on Thursday. The business has a 50-day moving average of $24.45 and a 200-day moving average of $22.44. Star Bulk Carriers has a fifty-two week low of $16.57 and a fifty-two week high of $26.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.26 and a quick ratio of 1.09. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 11.75 and a beta of 1.07.

Institutional Trading of Star Bulk Carriers

A number of institutional investors have recently modified their holdings of SBLK. Jessup Wealth Management Inc acquired a new position in Star Bulk Carriers in the fourth quarter valued at about $5,042,000. Kestra Advisory Services LLC raised its position in shares of Star Bulk Carriers by 209.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 52,009 shares of the shipping company’s stock valued at $1,003,000 after buying an additional 35,220 shares in the last quarter. Hosking Partners LLP lifted its holdings in shares of Star Bulk Carriers by 20.1% during the 3rd quarter. Hosking Partners LLP now owns 291,317 shares of the shipping company’s stock worth $5,617,000 after acquiring an additional 48,691 shares during the period. Grand Alliance Asset Management Ltd acquired a new stake in shares of Star Bulk Carriers during the 4th quarter worth approximately $12,756,000. Finally, Boston Partners increased its stake in Star Bulk Carriers by 110.1% in the fourth quarter. Boston Partners now owns 113,107 shares of the shipping company’s stock valued at $2,405,000 after acquiring an additional 59,264 shares during the last quarter. 33.91% of the stock is currently owned by institutional investors.

Star Bulk Carriers Company 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.