Star Bulk Carriers Corp. (SBLK) Shares Down 0.9%

Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) dropped 0.9% during trading on Tuesday . The company traded as low as $9.14 and last traded at $10.01. Approximately 318,200 shares traded hands during trading, a decline of 45% from the average daily volume of 578,623 shares. The stock had previously closed at $10.10.

SBLK has been the subject of a number of analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Star Bulk Carriers Corp. in a report on Thursday, October 19th. Zacks Investment Research raised shares of Star Bulk Carriers Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Pareto Securities raised shares of Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 8th. BidaskClub raised shares of Star Bulk Carriers Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, TheStreet lowered shares of Star Bulk Carriers Corp. from a “c” rating to a “d+” rating in a report on Thursday, September 28th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $13.00.

The company has a quick ratio of 6.93, a current ratio of 6.93 and a debt-to-equity ratio of 0.96.

Hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP grew its holdings in shares of Star Bulk Carriers Corp. by 176.5% in the 2nd quarter. Engineers Gate Manager LP now owns 46,689 shares of the shipping company’s stock valued at $459,000 after buying an additional 29,803 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Star Bulk Carriers Corp. in the 1st quarter valued at $1,529,000. River & Mercantile Asset Management LLP grew its holdings in shares of Star Bulk Carriers Corp. by 57.9% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 298,819 shares of the shipping company’s stock valued at $2,934,000 after buying an additional 109,600 shares during the period. Leucadia National Corp grew its holdings in shares of Star Bulk Carriers Corp. by 491.5% in the 2nd quarter. Leucadia National Corp now owns 174,589 shares of the shipping company’s stock valued at $1,716,000 after buying an additional 145,073 shares during the period. Finally, Caspian Capital LP grew its holdings in shares of Star Bulk Carriers Corp. by 10.7% in the 2nd quarter. Caspian Capital LP now owns 3,167,787 shares of the shipping company’s stock valued at $31,139,000 after buying an additional 306,341 shares during the period. 74.11% of the stock is owned by institutional investors.

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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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