Key Points
- Insider sale: Star Bulk Carriers director Nikolaos Karellis sold 20,000 shares on June 11 at an average price of $26.96, totaling about $539,200.
- Dividend increase: The company raised its quarterly dividend to $0.50 per share from $0.37, implying a $2.00 annualized payout and a 7.4% yield.
- Analyst sentiment remains positive: Wall Street consensus on SBLK is a Buy, with a $31.50 average price target, while several firms recently reiterated or upgraded their ratings.
Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) Director Nikolaos Karellis sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $26.96, for a total value of $539,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Star Bulk Carriers Stock Performance
SBLK opened at $27.15 on Friday. The stock has a market cap of $3.08 billion, a PE ratio of 21.72 and a beta of 0.72. The company has a quick ratio of 1.55, a current ratio of 1.73 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $25.90 and a 200-day moving average of $23.16. Star Bulk Carriers Corp. has a 52 week low of $16.21 and a 52 week high of $28.50.
Star Bulk Carriers Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 12th will be paid a $0.50 dividend. 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. This is a boost from Star Bulk Carriers's previous quarterly dividend of $0.37. Star Bulk Carriers's dividend payout ratio (DPR) is 118.40%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Wall Street Zen upgraded Star Bulk Carriers from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 18th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $32.00 price objective on shares of Star Bulk Carriers in a research note on Friday, May 22nd. Jefferies Financial Group lifted their price objective on Star Bulk Carriers from $29.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Zacks Research upgraded Star Bulk Carriers from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Star Bulk Carriers in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Star Bulk Carriers presently has a consensus rating of "Buy" and a consensus price target of $31.50.
Read Our Latest Report on SBLK
Institutional Trading of Star Bulk Carriers
Institutional investors and hedge funds have recently modified their holdings of the business. USA Financial Formulas bought a new stake in shares of Star Bulk Carriers in the 4th quarter worth $26,000. Triumph Capital Management bought a new stake in shares of Star Bulk Carriers in the 3rd quarter worth $26,000. Rhumbline Advisers increased its holdings in shares of Star Bulk Carriers by 141.7% in the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company's stock worth $32,000 after purchasing an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Star Bulk Carriers in the 3rd quarter worth $33,000. Finally, Leonteq Securities AG bought a new stake in shares of Star Bulk Carriers in the 4th quarter worth $38,000. Institutional investors own 33.91% of the company's stock.
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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