Key Points
- Star Bulk Carriers COO Nikolaos Reskos sold 5,000 shares at an average price of $28.99, generating $144,950. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 1.22% to 405,875 shares.
- The company raised its quarterly dividend to $0.50 per share, implying a $2.00 annualized payout and a 7.0% yield, though its payout ratio stands at 160%.
- Analyst sentiment is moderately positive: Star Bulk has a consensus “Moderate Buy” rating and a $31.50 price target, compared with shares opening at $28.73 and a 52-week high of $29.34.
Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) COO Nikolaos Reskos sold 5,000 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $28.99, for a total value of $144,950.00. Following the completion of the sale, the chief operating officer directly owned 405,875 shares of the company's stock, valued at approximately $11,766,316.25. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Monday, June 1st, Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $28.49, for a total value of $142,450.00.
- 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 stock was 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 stock was 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 shares were sold at an average price of $26.49, for a total transaction of $2,278.14.
Star Bulk Carriers Stock Performance
Shares of SBLK opened at $28.73 on Tuesday. The stock has a market capitalization of $3.26 billion, a P/E ratio of 22.98 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.73. Star Bulk Carriers Corp. has a 1 year low of $16.72 and a 1 year high of $29.34. The company's fifty day moving average is $26.64 and its two-hundred day moving average is $24.95.
Star Bulk Carriers Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 12th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 12th. This is a positive change from Star Bulk Carriers's previous quarterly dividend of $0.37. This represents a $2.00 annualized dividend and a dividend yield of 7.0%. Star Bulk Carriers's payout ratio is presently 160.00%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on SBLK shares. Weiss Ratings reissued a "hold (c)" rating on shares of Star Bulk Carriers in a report on Wednesday, June 24th. Jefferies Financial Group boosted their target price on Star Bulk Carriers from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Zacks Research downgraded Star Bulk Carriers from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 22nd. Wall Street Zen raised Star Bulk Carriers from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 18th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $32.00 price target on shares of Star Bulk Carriers in a report on Friday, May 22nd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.
Get Our Latest Stock Analysis on SBLK
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. grew its stake in Star Bulk Carriers by 44.6% in 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 last quarter. Ameriprise Financial Inc. raised its position in Star Bulk Carriers by 33.2% during the third quarter. Ameriprise Financial Inc. now owns 2,166,892 shares of the shipping company's stock worth $40,283,000 after acquiring an additional 539,567 shares during the last quarter. Renaissance Technologies LLC raised its position in Star Bulk Carriers by 13.0% during the first quarter. Renaissance Technologies LLC now owns 2,067,637 shares of the shipping company's stock worth $47,494,000 after acquiring an additional 237,248 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Star Bulk Carriers by 59.7% in the first 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 purchasing an additional 485,436 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Star Bulk Carriers by 4.3% in the fourth quarter. Focus Partners Wealth now owns 1,041,252 shares of the shipping company's stock valued at $19,391,000 after purchasing an additional 43,158 shares in the last quarter. Institutional investors and hedge funds own 33.91% of the company's stock.
About Star Bulk Carriers
(
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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