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 disclosure with the Securities and Exchange Commission (SEC). The firm acquired 128,714 shares of the shipping company’s stock, valued at approximately $1,529,000. JPMorgan Chase & Co. owned about 0.20% of Star Bulk Carriers Corp. as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its stake 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 stake in shares of Star Bulk Carriers Corp. during the first quarter worth $201,000. Horseman Capital Management Ltd purchased a new stake in shares of Star Bulk Carriers Corp. during the first quarter worth $10,857,000. A.R.T. Advisors LLC purchased a new stake in shares of Star Bulk Carriers Corp. during the fourth quarter worth $180,000. Finally, Renaissance Technologies LLC boosted its stake in shares of 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 last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.
Shares of Star Bulk Carriers Corp. (SBLK) opened at 9.57 on Friday. Star Bulk Carriers Corp. has a one year low of $3.95 and a one year high of $13.40. The stock’s market capitalization is $584.03 million. The firm’s 50-day moving average price is $9.34 and its 200-day moving average price is $9.36.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, May 24th. The shipping company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.04. Star Bulk Carriers Corp. had a negative return on equity of 7.89% and a negative net margin of 50.28%. The firm had revenue of $64.87 million during the quarter, compared to the consensus estimate of $64.27 million. Equities research analysts anticipate that Star Bulk Carriers Corp. will post ($0.56) EPS for the current fiscal year.
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Several research firms recently commented on SBLK. BidaskClub cut Star Bulk Carriers Corp. from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research cut Star Bulk Carriers Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday. Stifel Nicolaus set a $11.00 target price on Star Bulk Carriers Corp. and gave the stock a “hold” rating in a research note on Sunday, May 28th. Seaport Global Securities raised Star Bulk Carriers Corp. from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.50 to $13.00 in a research note on Friday, May 26th. They noted that the move was a valuation call. Finally, Jefferies Group LLC reissued a “buy” rating and set a $13.00 target price on shares of Star Bulk Carriers Corp. in a research note on Friday, May 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Star Bulk Carriers Corp. has a consensus rating of “Hold” and an average price target of $12.50.
Star Bulk Carriers Corp. Company Profile
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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