Mirabella Financial Services LLP Makes New $2.82 Million Investment in Star Bulk Carriers Corp. $SBLK

Mirabella Financial Services LLP acquired a new position in Star Bulk Carriers Corp. (NASDAQ:SBLK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 151,818 shares of the shipping company’s stock, valued at approximately $2,822,000. Mirabella Financial Services LLP owned about 0.13% of Star Bulk Carriers as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Alliancebernstein L.P. bought a new stake in Star Bulk Carriers during the second quarter worth $64,949,000. Ameriprise Financial Inc. lifted its stake in Star Bulk Carriers by 33.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,166,892 shares of the shipping company’s stock valued at $40,283,000 after acquiring an additional 539,567 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Star Bulk Carriers by 59.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company’s stock worth $20,204,000 after acquiring an additional 485,436 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Star Bulk Carriers by 34.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 652,982 shares of the shipping company’s stock worth $12,139,000 after acquiring an additional 168,491 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Star Bulk Carriers by 130.0% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 194,004 shares of the shipping company’s stock worth $3,607,000 after acquiring an additional 109,643 shares in the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Up 2.6%

SBLK stock opened at $22.80 on Thursday. The stock has a market cap of $2.68 billion, a P/E ratio of 31.23 and a beta of 0.73. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $22.99 and its two-hundred day simple moving average is $20.32. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $27.20.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Wednesday, February 25th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.10. The firm had revenue of $230.79 million during the quarter, compared to analyst estimates of $250.51 million. Star Bulk Carriers had a return on equity of 3.90% and a net margin of 8.07%. Analysts expect that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 6.5%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.11. The ex-dividend date is Monday, March 9th. Star Bulk Carriers’s dividend payout ratio is 202.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. Jefferies Financial Group restated a “buy” rating and set a $22.00 price target on shares of Star Bulk Carriers in a report on Wednesday, November 19th. Finally, Zacks Research downgraded shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Star Bulk Carriers Profile

Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.

The company’s vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.