JPMorgan Chase & Co. acquired a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 128,714 shares of the shipping company’s stock, valued at approximately $1,529,000. JPMorgan Chase & Co. owned 0.20% of Star Bulk Carriers Corp. at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Parametric Portfolio Associates LLC raised its position in shares of Star Bulk Carriers Corp. by 122.7% in the first quarter. Parametric Portfolio Associates LLC now owns 117,580 shares of the shipping company’s stock worth $1,397,000 after buying an additional 64,780 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Star Bulk Carriers Corp. during the first quarter worth approximately $201,000. Horseman Capital Management Ltd purchased a new position in shares of Star Bulk Carriers Corp. during the first quarter worth approximately $10,857,000. A.R.T. Advisors LLC bought a new position in Star Bulk Carriers Corp. during the fourth quarter worth $180,000. Finally, Renaissance Technologies LLC increased its position in Star Bulk Carriers Corp. by 174.2% in the fourth quarter. Renaissance Technologies LLC now owns 172,980 shares of the shipping company’s stock worth $884,000 after buying an additional 109,886 shares during the period. Hedge funds and other institutional investors own 73.97% of the company’s stock.
Star Bulk Carriers Corp. (NASDAQ:SBLK) opened at 10.02 on Thursday. The firm’s market cap is $611.49 million. Star Bulk Carriers Corp. has a 1-year low of $3.84 and a 1-year high of $13.40. The stock has a 50 day moving average price of $9.00 and a 200-day moving average price of $9.21.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last issued its quarterly earnings data on Wednesday, May 24th. The shipping company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.04. Star Bulk Carriers Corp. had a negative net margin of 50.28% and a negative return on equity of 7.89%. The company had revenue of $64.87 million for the quarter, compared to analysts’ expectations of $64.27 million. Equities research analysts forecast that Star Bulk Carriers Corp. will post ($0.55) EPS for the current year.
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A number of research analysts have recently weighed in on the company. Stifel Nicolaus set a $11.00 price target on Star Bulk Carriers Corp. and gave the company a “hold” rating in a research note on Sunday, May 28th. Jefferies Group LLC reissued a “buy” rating and issued a $11.00 price target on shares of Star Bulk Carriers Corp. in a research note on Friday, March 31st. Zacks Investment Research downgraded Star Bulk Carriers Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th. Seaport Global Securities raised Star Bulk Carriers Corp. from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.50 to $13.00 in a research note on Friday, May 26th. They noted that the move was a valuation call. Finally, Morgan Stanley raised Star Bulk Carriers Corp. from an “underweight” rating to an “overweight” rating and increased their price target for the company from $3.00 to $15.00 in a research note on Tuesday, March 28th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $12.50.
About Star Bulk Carriers Corp.
Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).
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