Leucadia National Corp bought a new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,516 shares of the shipping company’s stock, valued at approximately $351,000.
Other hedge funds have also recently bought and sold shares of the company. Monarch Alternative Capital LP purchased a new stake in Star Bulk Carriers Corp. during the fourth quarter valued at about $102,000. A.R.T. Advisors LLC purchased a new stake in Star Bulk Carriers Corp. during the fourth quarter valued at about $180,000. Engineers Gate Manager LP bought a new stake in Star Bulk Carriers Corp. during the first quarter valued at $201,000. Renaissance Technologies LLC raised its position in Star Bulk Carriers Corp. by 174.2% in the fourth quarter. Renaissance Technologies LLC now owns 172,980 shares of the shipping company’s stock valued at $884,000 after buying an additional 109,886 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Star Bulk Carriers Corp. during the fourth quarter valued at approximately $1,259,000. Institutional investors and hedge funds own 73.94% of the company’s stock.
Star Bulk Carriers Corp. (NASDAQ:SBLK) traded down 2.31% during midday trading on Tuesday, reaching $8.44. 95,436 shares of the company were exchanged. Star Bulk Carriers Corp. has a 52 week low of $2.61 and a 52 week high of $13.40. The firm’s 50 day moving average price is $8.40 and its 200-day moving average price is $8.59. The stock’s market capitalization is $515.07 million.
Star Bulk Carriers Corp. (NASDAQ:SBLK) last announced its earnings results on Wednesday, May 24th. The shipping company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.04. The business had revenue of $64.87 million for the quarter, compared to the consensus estimate of $64.27 million. Star Bulk Carriers Corp. had a negative return on equity of 7.89% and a negative net margin of 50.28%. Equities analysts forecast that Star Bulk Carriers Corp. will post ($0.55) EPS for the current fiscal year.
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A number of equities research analysts have issued reports on SBLK shares. Deutsche Bank AG raised shares of Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating and raised their price target for the stock from $3.50 to $12.00 in a report on Tuesday, February 21st. Maxim Group raised shares of Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, February 21st. Morgan Stanley raised shares of Star Bulk Carriers Corp. from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $3.00 to $15.00 in a research report on Tuesday, March 28th. Jefferies Group LLC reissued a “buy” rating and set a $11.00 price target on shares of Star Bulk Carriers Corp. in a research report on Friday, March 31st. Finally, Zacks Investment Research raised shares of Star Bulk Carriers Corp. from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $11.64.
Star Bulk Carriers Corp. Company Profile
Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).
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