Key Points
- Insider Charis Plakantonaki sold 10,825 Star Bulk Carriers shares for $322,801.50 at an average price of $29.82, reducing their position by 16.25% to 55,778 shares. This followed another sale of 10,825 shares the prior week.
- Star Bulk Carriers reported quarterly EPS of $1.21, beating estimates of $0.95, on revenue of $284.60 million. The company also raised its quarterly dividend to $0.90 per share, implying a 11.9% annualized yield.
- Analysts maintain a favorable outlook, with the stock holding a consensus “Buy” rating and a $31.50 price target; shares recently opened at $30.17.
Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) insider Charis Plakantonaki sold 10,825 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $29.82, for a total value of $322,801.50. Following the transaction, the insider owned 55,778 shares in the company, valued at $1,663,299.96. This represents a 16.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Charis Plakantonaki also recently made the following trade(s):
- On Friday, August 14th, Charis Plakantonaki sold 10,825 shares of Star Bulk Carriers stock. The shares were sold at an average price of $28.95, for a total value of $313,383.75.
Star Bulk Carriers Stock Up 0.1%
Star Bulk Carriers stock opened at $30.17 on Thursday. The stock has a market capitalization of $3.42 billion, a PE ratio of 11.83 and a beta of 0.72. Star Bulk Carriers Corp. has a 12 month low of $16.72 and a 12 month high of $30.90. The business has a 50 day simple moving average of $27.02 and a 200-day simple moving average of $25.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.74.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The shipping company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.26. Star Bulk Carriers had a return on equity of 11.72% and a net margin of 23.87%.The business had revenue of $284.60 million during the quarter, compared to the consensus estimate of $284.29 million. On average, analysts anticipate that Star Bulk Carriers Corp. will post 4.32 EPS for the current fiscal year.
Star Bulk Carriers Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend 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 annualized dividend and a yield of 11.9%. Star Bulk Carriers's payout ratio is 141.18%.
Wall Street Analyst Weigh In
SBLK has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Star Bulk Carriers from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. 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. Zacks Research upgraded Star Bulk Carriers from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 14th. Finally, Jefferies Financial Group lifted their price target on Star Bulk Carriers from $29.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $31.50.
Read Our Latest Analysis on Star Bulk Carriers
Institutional Trading of Star Bulk Carriers
Hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its holdings in shares of Star Bulk Carriers by 10.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,536 shares of the shipping company's stock worth $87,000 after purchasing an additional 422 shares during the last quarter. Magnetar Financial LLC increased its holdings in shares of Star Bulk Carriers by 3.1% in the fourth quarter. Magnetar Financial LLC now owns 20,001 shares of the shipping company's stock valued at $384,000 after purchasing an additional 604 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Star Bulk Carriers by 4.7% during the second quarter. BNP Paribas Financial Markets now owns 13,695 shares of the shipping company's stock worth $236,000 after buying an additional 616 shares in the last quarter. Vident Advisory LLC boosted its stake in Star Bulk Carriers by 5.6% during the third quarter. Vident Advisory LLC now owns 16,902 shares of the shipping company's stock worth $314,000 after buying an additional 891 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Star Bulk Carriers by 8.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,399 shares of the shipping company's stock worth $238,000 after buying an additional 983 shares during 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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