BidaskClub lowered shares of Star Bulk Carriers (NASDAQ:SBLK) from a hold rating to a sell rating in a report issued on Friday morning.
A number of other brokerages have also recently issued reports on SBLK. Stifel Nicolaus increased their price objective on Star Bulk Carriers from $15.00 to $16.00 and gave the stock a buy rating in a report on Thursday, August 30th. Zacks Investment Research cut Star Bulk Carriers from a buy rating to a hold rating in a report on Wednesday, July 18th. ValuEngine cut Star Bulk Carriers from a hold rating to a sell rating in a report on Monday, August 13th. Seaport Global Securities reissued a buy rating and set a $20.00 price objective on shares of Star Bulk Carriers in a report on Sunday, August 12th. Finally, JPMorgan Chase & Co. set a $20.00 price objective on Star Bulk Carriers and gave the stock a buy rating in a report on Tuesday, September 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $16.71.
Shares of SBLK opened at $11.53 on Friday. The stock has a market cap of $785.96 million, a P/E ratio of -52.41 and a beta of 2.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.46 and a current ratio of 1.59. Star Bulk Carriers has a 52-week low of $8.62 and a 52-week high of $15.38.
Large investors have recently added to or reduced their stakes in the business. Atlantic Trust Group LLC raised its holdings in shares of Star Bulk Carriers by 79.0% in the 1st quarter. Atlantic Trust Group LLC now owns 9,362 shares of the shipping company’s stock valued at $109,000 after acquiring an additional 4,132 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Star Bulk Carriers in the 2nd quarter valued at about $142,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Star Bulk Carriers in the 1st quarter valued at about $180,000. FNY Investment Advisers LLC purchased a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at about $285,000. Finally, Paloma Partners Management Co raised its holdings in shares of Star Bulk Carriers by 27.8% in the 2nd quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock valued at $418,000 after acquiring an additional 7,074 shares in the last quarter. 68.00% of the stock is currently owned by hedge funds and other 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 major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of August 29, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.
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