California Public Employees Retirement System boosted its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 10.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 281,888 shares of the shipping company’s stock after buying an additional 27,488 shares during the quarter. California Public Employees Retirement System’s holdings in Star Bulk Carriers were worth $2,737,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SBLK. Capital Fund Management S.A. acquired a new stake in Star Bulk Carriers during the second quarter valued at $103,000. Dynamic Technology Lab Private Ltd acquired a new stake in Star Bulk Carriers during the second quarter valued at $110,000. GLG Partners LP acquired a new stake in Star Bulk Carriers during the second quarter valued at $127,000. State Street Corp acquired a new stake in Star Bulk Carriers during the second quarter valued at $176,000. Finally, Neuberger Berman Group LLC grew its position in Star Bulk Carriers by 3.5% during the second quarter. Neuberger Berman Group LLC now owns 31,146 shares of the shipping company’s stock valued at $306,000 after buying an additional 1,052 shares during the period. Institutional investors own 70.43% of the company’s stock.

Several research firms recently commented on SBLK. Jefferies Group began coverage on shares of Star Bulk Carriers in a research report on Monday, December 18th. They set a “buy” rating and a $15.00 price target on the stock. Zacks Investment Research lowered shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Stifel Nicolaus set a $11.00 price target on shares of Star Bulk Carriers and gave the company a “hold” rating in a research report on Sunday, October 22nd. Finally, TheStreet lowered shares of Star Bulk Carriers from a “c” rating to a “d+” rating in a research report on Thursday, September 28th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $13.00.

Shares of Star Bulk Carriers Corp. (NASDAQ SBLK) opened at $11.89 on Tuesday. Star Bulk Carriers Corp. has a 52-week low of $6.73 and a 52-week high of $13.40. The stock has a market cap of $762.78, a PE ratio of -6.36 and a beta of 2.73. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.64 and a quick ratio of 2.64.

Star Bulk Carriers (NASDAQ:SBLK) last announced its earnings results on Sunday, November 19th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08). Star Bulk Carriers had a negative net margin of 23.09% and a negative return on equity of 4.04%. sell-side analysts forecast that Star Bulk Carriers Corp. will post -0.37 EPS for the current year.

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

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