Star Bulk Carriers (NASDAQ:SBLK) Sets New 1-Year High – Time to Buy?

Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) hit a new 52-week high during trading on Tuesday . The company traded as high as $25.82 and last traded at $25.5020, with a volume of 397492 shares trading hands. The stock had previously closed at $25.24.

Analyst Ratings Changes

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

Star Bulk Carriers Stock Up 1.2%

The stock has a market capitalization of $3.00 billion, a P/E ratio of 49.08 and a beta of 0.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56. The stock has a fifty day moving average price of $21.27 and a 200 day moving average price of $19.70.

Institutional Investors Weigh In On Star Bulk Carriers

Several hedge funds have recently bought and sold shares of SBLK. Alliancebernstein L.P. increased its stake in Star Bulk Carriers by 44.6% in the third quarter. Alliancebernstein L.P. now owns 5,446,191 shares of the shipping company’s stock valued at $101,245,000 after acquiring an additional 1,681,036 shares during the last quarter. Mirabella Financial Services LLP purchased a new position in shares of Star Bulk Carriers in the 3rd quarter worth about $73,967,000. Ameriprise Financial Inc. boosted its holdings in shares of Star Bulk Carriers by 33.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,166,892 shares of the shipping company’s stock worth $40,283,000 after purchasing an additional 539,567 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of 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 valued at $20,204,000 after purchasing an additional 485,436 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of Star Bulk Carriers by 4.3% during the 4th quarter. Focus Partners Wealth now owns 1,041,252 shares of the shipping company’s stock valued at $19,391,000 after buying an additional 43,158 shares in the last quarter. 33.91% of the stock is currently owned by institutional investors.

About Star Bulk Carriers

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.