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

Mirabella Financial Services LLP acquired a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,978,884 shares of the shipping company’s stock, valued at approximately $73,967,000. Star Bulk Carriers makes up approximately 2.3% of Mirabella Financial Services LLP’s investment portfolio, making the stock its 4th largest holding. Mirabella Financial Services LLP owned approximately 3.38% of Star Bulk Carriers as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Rhumbline Advisers lifted its position in Star Bulk Carriers by 141.7% during the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,022 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Star Bulk Carriers by 135.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the shipping company’s stock valued at $42,000 after acquiring an additional 1,391 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Star Bulk Carriers by 50.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,381 shares of the shipping company’s stock worth $46,000 after buying an additional 802 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Star Bulk Carriers during the third quarter valued at about $111,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Star Bulk Carriers during the third quarter worth about $121,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Zacks Research lowered shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Jefferies Financial Group restated a “buy” rating and issued a $22.00 target price on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.00.

Star Bulk Carriers Stock Performance

SBLK opened at $22.22 on Tuesday. 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 business’s 50 day moving average is $22.90 and its 200-day moving average is $20.28. The stock has a market cap of $2.61 billion, a PE ratio of 30.44 and a beta of 0.73. Star Bulk Carriers Corp. has a twelve month low of $12.06 and a twelve month high of $27.20.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. The company 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%. On average, analysts predict that Star Bulk Carriers Corp. will post 1.74 earnings per share for the current year.

Star Bulk Carriers Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, March 9th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.11. This represents a $1.48 annualized dividend and a yield of 6.7%. Star Bulk Carriers’s dividend payout ratio is presently 202.74%.

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.