Marshall Wace LLP Raises Stock Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Marshall Wace LLP grew its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 14.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 858,508 shares of the shipping company’s stock after buying an additional 105,185 shares during the quarter. Marshall Wace LLP owned approximately 0.93% of Star Bulk Carriers worth $5,649,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Oaktree Capital Management LP grew its stake in Star Bulk Carriers by 3.6% during the first quarter. Oaktree Capital Management LP now owns 35,384,197 shares of the shipping company’s stock valued at $232,827,000 after acquiring an additional 1,222,446 shares in the last quarter. Evermore Global Advisors LLC purchased a new position in Star Bulk Carriers during the first quarter valued at approximately $9,531,000. Tokio Marine Asset Management Co. Ltd. grew its stake in Star Bulk Carriers by 18.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 67,700 shares of the shipping company’s stock valued at $445,000 after acquiring an additional 10,500 shares in the last quarter. Sippican Capital Advisors lifted its position in Star Bulk Carriers by 13.2% during the first quarter. Sippican Capital Advisors now owns 18,178 shares of the shipping company’s stock valued at $120,000 after purchasing an additional 2,116 shares during the last quarter. Finally, Cetera Advisor Networks LLC bought a new stake in Star Bulk Carriers during the fourth quarter valued at approximately $123,000. 56.65% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have issued reports on SBLK. ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Zacks Investment Research lowered shares of CGI from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Deutsche Bank set a $15.00 target price on shares of Star Bulk Carriers and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, BidaskClub upgraded shares of Misonix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Star Bulk Carriers presently has an average rating of “Buy” and an average price target of $17.00.

Star Bulk Carriers stock traded down $0.05 during mid-day trading on Friday, hitting $10.65. 338,577 shares of the company traded hands, compared to its average volume of 461,843. The firm has a market capitalization of $987.45 million, a PE ratio of 9.59 and a beta of 1.87. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 0.84. Star Bulk Carriers Corp. has a one year low of $6.16 and a one year high of $15.38. The business’s fifty day moving average price is $8.61.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data on Wednesday, May 22nd. The shipping company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). The business had revenue of $166.49 million during the quarter, compared to the consensus estimate of $154.10 million. Star Bulk Carriers had a return on equity of 4.91% and a net margin of 6.28%. As a group, sell-side analysts forecast that Star Bulk Carriers Corp. will post -0.49 EPS for the current fiscal year.

About Star Bulk Carriers

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 April 10, 2019, the company had a fleet of 109 vessels with an aggregate capacity of approximately 12.45 million deadweight ton, including 17 Newcastlemax, 19 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 17 Ultramax, and 10 Supramax vessels.

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

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