JPMorgan Chase & Co. Invests $1.53 Million in Star Bulk Carriers Corp. (NASDAQ:SBLK)

JPMorgan Chase & Co. acquired a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) during the first quarter, according to its most recent disclosure 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 about 0.20% of Star Bulk Carriers Corp. at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SBLK. Parametric Portfolio Associates LLC increased 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 acquired a new position in shares of Star Bulk Carriers Corp. during the first quarter worth $201,000. Horseman Capital Management Ltd acquired a new position in shares of Star Bulk Carriers Corp. during the first quarter worth $10,857,000. A.R.T. Advisors LLC acquired a new position in shares of Star Bulk Carriers Corp. during the fourth quarter worth $180,000. Finally, Renaissance Technologies LLC increased its position 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. 75.14% of the stock is owned by hedge funds and other institutional investors.

Star Bulk Carriers Corp. (NASDAQ:SBLK) traded up 3.10% during mid-day trading on Monday, reaching $10.63. 845,115 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $9.78 and its 200 day moving average price is $9.52. The firm’s market cap is $673.26 million. Star Bulk Carriers Corp. has a one year low of $3.95 and a one year high of $13.40.

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 for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.04. Star Bulk Carriers Corp. had a negative net margin of 36.90% and a negative return on equity of 5.59%. The business had revenue of $64.87 million during the quarter, compared to analysts’ expectations of $64.27 million. On average, equities analysts forecast that Star Bulk Carriers Corp. will post ($0.46) EPS for the current year.

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Several research firms recently commented on SBLK. Stifel Nicolaus set a $11.00 price objective on Star Bulk Carriers Corp. and gave the company a “hold” rating in a research note on Sunday, May 28th. TheStreet upgraded Star Bulk Carriers Corp. from a “d+” rating to a “c” rating in a research note on Wednesday, August 9th. BidaskClub downgraded Star Bulk Carriers Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research downgraded Star Bulk Carriers Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC restated a “buy” rating and set a $13.00 target price on shares of Star Bulk Carriers Corp. in a research report on Friday, May 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price 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).