Key Points
- Star Bulk Carriers COO Nikolaos Reskos sold 30,000 shares on May 21 at an average price of $27.29, worth about $818,700. The sale was part of a pre-arranged Rule 10b5-1 plan.
- Reskos has made several other recent stock sales as well, including trades on May 18, 19, and 20, reducing his ownership by 7.54% after the latest transaction. He still holds 367,775 shares valued at roughly $10.0 million.
- Star Bulk Carriers continues to show positive operating signals, with its recent quarterly dividend raised to $0.50 per share and analysts maintaining a Buy consensus price target of $30.50. The stock also recently traded near $26.40, close to its 52-week high of $28.28.
Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) COO Nikolaos Reskos sold 9,914 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $26.55, for a total transaction of $263,216.70. Following the sale, the chief operating officer owned 397,775 shares in the company, valued at $10,560,926.25. This trade represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nikolaos Reskos also recently made the following trade(s):
- On Thursday, May 21st, Nikolaos Reskos sold 30,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $27.29, for a total transaction of $818,700.00.
- On Monday, May 18th, Nikolaos Reskos sold 33,103 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.28, for a total transaction of $869,946.84.
- On Tuesday, May 19th, Nikolaos Reskos sold 86 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.49, for a total transaction of $2,278.14.
- On Wednesday, April 15th, Nikolaos Reskos sold 8,406 shares of Star Bulk Carriers stock. The shares were sold at an average price of $25.05, for a total transaction of $210,570.30.
- On Tuesday, April 14th, Nikolaos Reskos sold 1,594 shares of Star Bulk Carriers stock. The shares were sold at an average price of $25.00, for a total transaction of $39,850.00.
Star Bulk Carriers Price Performance
NASDAQ SBLK opened at $26.40 on Friday. Star Bulk Carriers Corp. has a 12 month low of $15.78 and a 12 month high of $28.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.65. The firm has a market capitalization of $2.99 billion, a PE ratio of 21.12 and a beta of 0.71. The company's 50 day simple moving average is $24.53 and its 200 day simple moving average is $22.27.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.10. Star Bulk Carriers had a net margin of 13.01% and a return on equity of 6.82%. The business had revenue of $230.79 million for the quarter, compared to analyst estimates of $250.51 million. As a group, equities research analysts forecast that Star Bulk Carriers Corp. will post 3.85 EPS for the current fiscal year.
Star Bulk Carriers Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 12th will be paid a dividend of $0.50 per share. This is a boost from Star Bulk Carriers's previous quarterly dividend of $0.37. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Friday, June 12th. Star Bulk Carriers's dividend payout ratio (DPR) is 160.00%.
Analyst Upgrades and Downgrades
Several research firms have issued reports on SBLK. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $32.00 price target on shares of Star Bulk Carriers in a research report on Friday. Zacks Research upgraded shares of Star Bulk Carriers from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Star Bulk Carriers in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Star Bulk Carriers from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 18th. Finally, Jefferies Financial Group began coverage on shares of Star Bulk Carriers in a research report on Friday, April 24th. They issued a "buy" rating and a $29.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $30.50.
Get Our Latest Stock Analysis on Star Bulk Carriers
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new position in Star Bulk Carriers during the 4th quarter worth approximately $26,000. Triumph Capital Management acquired a new stake in shares of Star Bulk Carriers during the 3rd quarter valued at $26,000. Rhumbline Advisers boosted its stake in shares of Star Bulk Carriers by 141.7% during the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company's stock valued at $32,000 after buying an additional 1,022 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Star Bulk Carriers during the 3rd quarter valued at $33,000. Finally, Leonteq Securities AG acquired a new stake in shares of Star Bulk Carriers during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 33.91% of the company's stock.
Star Bulk Carriers News Summary
Here are the key news stories impacting Star Bulk Carriers this week:
- Positive Sentiment: Star Bulk reported stronger-than-expected Q1 results, including earnings and revenue that beat analyst estimates, which supports the bullish case for the dry bulk shipping business. Article Title
- Positive Sentiment: The company declared a larger quarterly dividend of $0.50 per share, a 35.1% increase from the prior payout, signaling confidence in cash generation and shareholder returns. Article Title
- Positive Sentiment: Management outlined a plan to return 100% of free cash flow while maintaining a minimum $2.1 million per vessel cash balance, which may reassure investors about capital discipline and ongoing distributions. Article Title
- Neutral Sentiment: Several earnings-call transcripts and the Q1 presentation are circulating, keeping attention on operating trends, but they do not appear to add a new catalyst by themselves. Article Title
- Neutral Sentiment: COO Nikolaos Reskos disclosed several stock sales, including recent trades under a pre-arranged 10b5-1 plan; while notable, these sales are not necessarily a sign of worsening fundamentals. Article Title
Star Bulk Carriers Company Profile
(
Get Free Report)
Star Bulk Carriers Corp is a global shipping company engaged in the ocean transport of dry bulk commodities. The company owns and operates a diversified fleet of bulk carriers, including Handymax, Supramax, Panamax and Capesize vessels. Its ships are designed to carry a broad range of cargoes, such as iron ore, coal, grain, bauxite and phosphate, catering to industrial and agricultural customers worldwide.
The company's vessels operate on major trade routes across the Atlantic, Pacific and Indian Oceans, connecting producers and consumers in Asia, Europe, North and South America.
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