Key Points
- Star Bulk Carriers COO Nikolaos Reskos sold 5,000 shares on June 1 at an average price of $28.49, worth about $142,450. After the sale, he still directly owned 362,775 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- Reskos has been actively selling shares recently, with multiple transactions in May and April, including a 30,000-share sale on May 21 and a 33,103-share sale on May 18.
- The company recently raised its quarterly dividend to $0.50 per share from $0.37, implying a 7.4% annualized yield, while analysts currently maintain a consensus Buy rating with a $31.50 price target.
Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) COO Nikolaos Reskos sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $28.49, for a total value of $142,450.00. Following the transaction, the chief operating officer directly owned 362,775 shares in the company, valued at approximately $10,335,459.75. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 stock was sold at an average price of $27.29, for a total value of $818,700.00.
- On Wednesday, May 20th, Nikolaos Reskos sold 9,914 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.55, for a total value of $263,216.70.
- 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 value of $869,946.84.
- On Tuesday, May 19th, Nikolaos Reskos sold 86 shares of Star Bulk Carriers stock. The stock was sold at an average price of $26.49, for a total value of $2,278.14.
- On Wednesday, April 15th, Nikolaos Reskos sold 8,406 shares of Star Bulk Carriers stock. The stock was sold at an average price of $25.05, for a total value 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 Stock Performance
NASDAQ SBLK opened at $27.17 on Thursday. The company has a market cap of $3.08 billion, a P/E ratio of 21.74 and a beta of 0.72. The company has a fifty day simple moving average of $25.32 and a 200 day simple moving average of $22.80. The company has a current ratio of 1.73, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. Star Bulk Carriers Corp. has a 12-month low of $16.17 and a 12-month high of $28.50.
Star Bulk Carriers Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 12th will be issued a dividend of $0.50 per share. This is an increase 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 7.4%. The ex-dividend date is Friday, June 12th. Star Bulk Carriers's dividend payout ratio is 118.40%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Star Bulk Carriers in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $32.00 target price on shares of Star Bulk Carriers in a report on Friday, May 22nd. Jefferies Financial Group upped their price target on Star Bulk Carriers from $29.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Zacks Research raised Star Bulk Carriers from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen raised shares of Star Bulk Carriers from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 18th. One investment 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 company currently has a consensus rating of "Buy" and a consensus target price of $31.50.
Check Out Our Latest Research Report on SBLK
Institutional Trading of Star Bulk Carriers
A number of institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. grew its position in shares of Star Bulk Carriers by 44.6% during the 3rd quarter. Alliancebernstein L.P. now owns 5,446,191 shares of the shipping company's stock valued at $101,245,000 after acquiring an additional 1,681,036 shares during the period. Mirabella Financial Services LLP bought a new position in Star Bulk Carriers during the third quarter valued at $73,967,000. Ameriprise Financial Inc. increased its position in Star Bulk Carriers by 33.2% in the third quarter. Ameriprise Financial Inc. now owns 2,166,892 shares of the shipping company's stock worth $40,283,000 after buying an additional 539,567 shares during the last quarter. Renaissance Technologies LLC increased its position in Star Bulk Carriers by 13.0% in the first quarter. Renaissance Technologies LLC now owns 2,067,637 shares of the shipping company's stock worth $47,494,000 after buying an additional 237,248 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Star Bulk Carriers by 59.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company's stock valued at $20,204,000 after buying an additional 485,436 shares during the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.
Star Bulk Carriers Company Profile
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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.
Further Reading
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