River & Mercantile Asset Management LLP Decreases Stake in Star Bulk Carriers Corp. (SBLK)

River & Mercantile Asset Management LLP trimmed its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 37.9% in the 3rd quarter, Holdings Channel reports. The firm owned 223,038 shares of the shipping company’s stock after selling 136,208 shares during the period. River & Mercantile Asset Management LLP’s holdings in Star Bulk Carriers were worth $3,223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Paloma Partners Management Co raised its holdings in shares of Star Bulk Carriers by 27.8% during the second quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock valued at $418,000 after purchasing an additional 7,074 shares during the last quarter. WealthTrust Axiom LLC purchased a new position in shares of Star Bulk Carriers during the third quarter valued at approximately $144,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Star Bulk Carriers during the second quarter valued at approximately $142,000. Cubist Systematic Strategies LLC raised its holdings in shares of Star Bulk Carriers by 78.1% during the second quarter. Cubist Systematic Strategies LLC now owns 27,528 shares of the shipping company’s stock valued at $354,000 after purchasing an additional 12,069 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Star Bulk Carriers during the third quarter valued at approximately $190,000. 77.91% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ SBLK opened at $9.47 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.59 and a quick ratio of 1.46. The company has a market cap of $630.79 million, a P/E ratio of -43.05 and a beta of 2.48. Star Bulk Carriers Corp. has a 12-month low of $7.99 and a 12-month high of $15.38.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Tuesday, November 20th. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The business had revenue of $188.47 million for the quarter, compared to the consensus estimate of $194.27 million. Star Bulk Carriers had a net margin of 12.83% and a return on equity of 6.91%. Equities research analysts anticipate that Star Bulk Carriers Corp. will post 0.94 EPS for the current year.

Several research analysts have recently weighed in on the stock. Deutsche Bank set a $17.00 price objective on shares of Star Bulk Carriers and gave the company a “buy” rating in a report on Thursday, November 8th. ValuEngine cut shares of Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 6th. BidaskClub cut shares of Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a report on Thursday, November 15th. JPMorgan Chase & Co. set a $20.00 price objective on shares of Star Bulk Carriers and gave the company a “buy” rating in a report on Tuesday, September 11th. Finally, Zacks Investment Research cut shares of Star Bulk Carriers from a “hold” rating to a “strong sell” rating in a report on Friday, November 30th. Three analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Star Bulk Carriers presently has a consensus rating of “Hold” and an average price target of $16.71.

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Star Bulk Carriers 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 October 10, 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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Institutional Ownership by Quarter for Star Bulk Carriers (NASDAQ:SBLK)

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