Northern Trust Corp lessened its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 36.6% in the second quarter, HoldingsChannel.com reports. The fund owned 39,081 shares of the shipping company’s stock after selling 22,563 shares during the period. Northern Trust Corp’s holdings in Star Bulk Carriers were worth $502,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in SBLK. Quantitative Systematic Strategies LLC bought a new stake in shares of Star Bulk Carriers in the second quarter valued at about $142,000. Cubist Systematic Strategies LLC boosted its position in shares of Star Bulk Carriers by 78.1% in the second quarter. Cubist Systematic Strategies LLC now owns 27,528 shares of the shipping company’s stock valued at $354,000 after acquiring an additional 12,069 shares during the period. Paloma Partners Management Co boosted its position in shares of Star Bulk Carriers by 27.8% in the second quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock valued at $418,000 after acquiring an additional 7,074 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in shares of Star Bulk Carriers by 164.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 34,226 shares of the shipping company’s stock valued at $440,000 after acquiring an additional 21,288 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Star Bulk Carriers by 183.4% in the second quarter. Macquarie Group Ltd. now owns 41,100 shares of the shipping company’s stock valued at $529,000 after acquiring an additional 26,600 shares during the period. 77.91% of the stock is owned by institutional investors.

A number of equities research analysts have recently issued reports on SBLK shares. ValuEngine cut shares of Star Bulk Carriers from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 6th. BidaskClub cut shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Deutsche Bank set a $17.00 target price on shares of Star Bulk Carriers and gave the company a “buy” rating in a research report on Friday, September 28th. Stifel Nicolaus boosted their target price on shares of Star Bulk Carriers from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Finally, JPMorgan Chase & Co. set a $20.00 target price on shares of Star Bulk Carriers and gave the company a “buy” rating in a research report on Tuesday, September 11th. Three research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $16.71.

Shares of Star Bulk Carriers stock opened at $9.47 on Friday. The stock has a market capitalization of $644.28 million, a PE ratio of -43.05 and a beta of 2.48. Star Bulk Carriers Corp. has a 52-week low of $7.99 and a 52-week high of $15.38. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.59 and a quick ratio of 1.46.

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

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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.

See Also: Leveraged Buyout (LBO)

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

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