Key Points
- Insider Alexandros Pappas purchased 74,400 Star Bulk shares at an average price of $28.27, investing approximately $2.1 million and increasing his position by 3.03%.
- Star Bulk reported quarterly EPS of $1.21, exceeding the $0.95 analyst consensus, while revenue of $284.6 million was broadly in line with estimates.
- The company raised its quarterly dividend to $0.90, equivalent to a $3.60 annualized payout and an 11.3% yield; analysts maintain a consensus Buy rating with an average price target of $31.50.
Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) insider Charis Plakantonaki acquired 3,000 shares of Star Bulk Carriers stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average price of $28.27 per share, with a total value of $84,810.00. Following the completion of the acquisition, the insider directly owned 58,778 shares in the company, valued at $1,661,654.06. This represents a 5.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Charis Plakantonaki also recently made the following trade(s):
- On Monday, August 17th, Charis Plakantonaki sold 10,825 shares of Star Bulk Carriers stock. The stock was sold at an average price of $29.82, for a total value of $322,801.50.
- 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 transaction of $313,383.75.
Star Bulk Carriers Stock Performance
Shares of NASDAQ SBLK opened at $31.75 on Friday. The firm's 50-day moving average price is $29.17 and its 200-day moving average price is $26.62. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.60 billion, a PE ratio of 12.45 and a beta of 0.70. Star Bulk Carriers Corp. has a 52-week low of $16.72 and a 52-week high of $32.88.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.26. Star Bulk Carriers had a net margin of 23.87% and a return on equity of 11.72%. The firm had revenue of $284.60 million during the quarter, compared to analyst estimates of $284.29 million. As a group, analysts anticipate that Star Bulk Carriers Corp. will post 4.32 EPS for the current year.
Star Bulk Carriers Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Friday, August 21st were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 11.3%. This is a boost from Star Bulk Carriers's previous quarterly dividend of $0.50. The ex-dividend date was Friday, August 21st. Star Bulk Carriers's dividend payout ratio (DPR) is currently 141.18%.
Trending Headlines about Star Bulk Carriers
Here are the key news stories impacting Star Bulk Carriers this week:
- Positive Sentiment: Multiple insiders bought SBLK shares at approximately $28.27 on September 15. Purchases included 10,000 shares by COO Nikolaos Rescos, 15,000 by CFO Symeon Spyrou, 74,400 by Alexandros Pappas, 60,000 by director Raffaele Zagari, and additional buying by directors Koert Erhardt, Nikolaos Karellis and Charis Plakantonaki. The concentrated buying suggests several insiders view the shares as attractively valued and may support investor sentiment. Recent insider purchases
- Positive Sentiment: Star Bulk secured approximately €107.8 million through its Euronext Athens listing, with strong reported investor interest. The capital could provide flexibility for fleet investments, debt management or other growth initiatives. Euronext Athens fundraising
- Positive Sentiment: Recent operating results also provide support: quarterly EPS of $1.21 exceeded the $0.95 consensus estimate, and the company raised its quarterly dividend to $0.90 from $0.50. Analysts maintain a broadly positive view, including a reported consensus “Buy” rating. SBLK insider and company overview
- Neutral Sentiment: The Euronext listing and designation of Greece as the company’s home member state may expand access to European investors, but these administrative changes do not immediately alter earnings or cash flow. Euronext listing announcement
- Negative Sentiment: The follow-on offering involves approximately 4.4 million new shares. While the proceeds may fund fleet expansion, the higher share count can dilute existing shareholders and is the main near-term risk to SBLK’s valuation. Follow-on offering details
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Raiffeisen Bank International AG increased its holdings in Star Bulk Carriers by 26.3% in the 2nd quarter. Raiffeisen Bank International AG now owns 66,429 shares of the shipping company's stock worth $1,659,000 after acquiring an additional 13,851 shares in the last quarter. BTG Pactual Asset Management US LLC lifted its holdings in Star Bulk Carriers by 3.9% during the second quarter. BTG Pactual Asset Management US LLC now owns 53,570 shares of the shipping company's stock valued at $1,338,000 after purchasing an additional 1,986 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of Star Bulk Carriers by 0.8% in the second quarter. Headlands Technologies LLC now owns 66,333 shares of the shipping company's stock worth $1,656,000 after purchasing an additional 518 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Star Bulk Carriers in the second quarter worth approximately $1,371,000. Finally, Bank of America Corp DE boosted its holdings in 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 period. 33.91% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have issued reports on SBLK. Jefferies Financial Group raised 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. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $32.00 price target on shares of Star Bulk Carriers in a research report on Friday, May 22nd. Zacks Research raised shares of Star Bulk Carriers from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 14th. Finally, Weiss Ratings upgraded Star Bulk Carriers from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $31.50.
Get Our Latest Analysis on SBLK
About Star Bulk Carriers
(
Get Free Report)
Star Bulk Carriers Corp. is a global dry bulk shipping company that owns and operates vessels used to transport major and minor bulk commodities. Its fleet serves the international supply chains for iron ore, grain, bauxite, fertilizers, steel products and other dry cargoes.
The company operates a diversified fleet that includes large Capesize and Newcastlemax vessels as well as Panamax, Ultramax and Supramax bulk carriers. Star Bulk's vessels serve customers and ports across major shipping routes worldwide, supporting commodity trade between producers, exporters and end markets.
Star Bulk Carriers was founded in 2006 and is headquartered in Maroussi, Greece, with the company incorporated in the Marshall Islands.
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