Key Points
- COO Nikolaos Reskos sold 5,000 Star Bulk Carriers shares at an average price of $29.50, totaling $147,500. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 400,875 shares.
- Star Bulk raised its quarterly dividend to $0.90 per share from $0.50, implying an annualized dividend of $3.60 and a 12.5% yield, although its payout ratio stands at 141.18%.
- SBLK was trading near its 52-week high at $28.90, while analysts maintained a generally positive outlook: the stock has a “Moderate Buy” consensus rating and a $31.50 average 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 Thursday, August 6th. The stock was sold at an average price of $29.50, for a total value of $147,500.00. Following the completion of the transaction, the chief operating officer owned 400,875 shares of the company's stock, valued at $11,825,812.50. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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, July 30th, Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $28.99, for a total transaction of $144,950.00.
- 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 transaction 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 transaction 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 transaction 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 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.
Star Bulk Carriers Stock Performance
SBLK opened at $28.90 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.91. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 11.33 and a beta of 0.72. The company has a fifty day moving average of $26.73 and a 200 day moving average of $25.14. Star Bulk Carriers Corp. has a fifty-two week low of $16.72 and a fifty-two week high of $29.50.
Star Bulk Carriers Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be given a dividend of $0.90 per share. The ex-dividend date is Friday, August 21st. This is a positive change from Star Bulk Carriers's previous quarterly dividend of $0.50. This represents a $3.60 dividend on an annualized basis and a dividend yield of 12.5%. Star Bulk Carriers's dividend payout ratio (DPR) is 141.18%.
Institutional Trading of Star Bulk Carriers
A number of large investors have recently made changes to their positions in SBLK. Bank of America Corp DE increased its holdings in shares of Star Bulk Carriers by 48.5% in the 1st quarter. Bank of America Corp DE now owns 565,562 shares of the shipping company's stock worth $12,991,000 after buying an additional 184,837 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Star Bulk Carriers in the 1st quarter valued at about $403,000. Cooper Creek Partners Management LLC purchased a new position in Star Bulk Carriers in the first quarter worth about $19,893,000. Entropy Technologies LP purchased a new position in Star Bulk Carriers in the first quarter worth about $437,000. Finally, Renaissance Technologies LLC grew 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 acquiring an additional 237,248 shares in the last quarter. 33.91% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $32.00 target price on shares of Star Bulk Carriers in a research report on Friday, May 22nd. Jefferies Financial Group raised their price target on Star Bulk Carriers from $29.00 to $31.00 and gave the company a "buy" rating in a 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 report on Saturday, April 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Star Bulk Carriers in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.50.
Check Out Our Latest Report on SBLK
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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