Key Points
- Director Koert Erhardt sold 6,000 SBLK shares at an average price of $30.39, worth $182,340, reducing his holdings by 37.31% to 10,080 shares. He had purchased 6,000 shares at $28.27 in September.
- Star Bulk Carriers reported quarterly EPS of $1.21, exceeding estimates of $0.95, and raised its quarterly dividend to $0.90 per share, representing a 12.1% annualized yield.
- SBLK shares opened at $29.69, within a 52-week range of $16.72 to $32.88. Analysts maintain an overall “Moderate Buy” rating with an average price target of $31.50.
Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) Director Koert Erhardt sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $30.39, for a total value of $182,340.00. Following the sale, the director owned 10,080 shares of the company's stock, valued at approximately $306,331.20. This trade represents a 37.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Koert Erhardt also recently made the following trade(s):
- On Tuesday, September 15th, Koert Erhardt acquired 6,000 shares of Star Bulk Carriers stock. The shares were acquired at an average price of $28.27 per share, for a total transaction of $169,620.00.
Star Bulk Carriers Stock Performance
Shares of SBLK opened at $29.69 on Thursday. The business's 50 day moving average is $30.18 and its two-hundred day moving average is $27.28. Star Bulk Carriers Corp. has a 52-week low of $16.72 and a 52-week high of $32.88. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.12 and a beta of 0.74. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.32.
Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.21 earnings per share 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 business had revenue of $284.60 million during the quarter, compared to the consensus estimate of $284.29 million. Analysts forecast that Star Bulk Carriers Corp. will post 4.38 EPS for the current fiscal year.
Star Bulk Carriers Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were paid a dividend of $0.90 per share. This is a positive change from Star Bulk Carriers's previous quarterly dividend of $0.50. The ex-dividend date was Friday, August 21st. This represents a $3.60 dividend on an annualized basis and a yield of 12.1%. Star Bulk Carriers's payout ratio is currently 141.18%.
Analysts Set New Price Targets
SBLK has been the subject of several research analyst reports. Zacks Research downgraded shares of Star Bulk Carriers from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 18th. Weiss Ratings raised shares of Star Bulk Carriers from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 27th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Star Bulk Carriers presently has an average rating of "Moderate Buy" and an average target price of $31.50.
View Our Latest Stock Report on SBLK
Institutional Investors Weigh In On Star Bulk Carriers
Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake 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 purchasing an additional 237,248 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new position in Star Bulk Carriers in the first quarter worth $19,893,000. Arrowstreet Capital Limited Partnership bought a new stake in Star Bulk Carriers during the first quarter valued at $17,398,000. Fearnley Asset Management AS bought a new stake in Star Bulk Carriers during the fourth quarter valued at $11,096,000. Finally, Bank of America Corp DE raised its holdings in shares of Star Bulk Carriers by 48.5% during the first quarter. Bank of America Corp DE now owns 565,562 shares of the shipping company's stock worth $12,991,000 after purchasing an additional 184,837 shares during the period. 33.91% of the stock is owned by institutional investors and hedge funds.
Star Bulk Carriers Company Profile
(
Get Free Report)
Star Bulk Carriers Corp. (NASDAQ:SBLK) is a global dry bulk shipping company that owns and operates vessels used to transport major and minor bulk commodities. Its cargoes include iron ore, grains, bauxite, fertilizers, steel products and other raw materials.
The company operates a diversified fleet of dry bulk carriers, including Capesize, Panamax, Ultramax and Supramax vessels. These ships serve international trade routes and transport commodities between producers, exporters and industrial customers across major global markets.
Star Bulk was founded in 2006 and is headquartered in Maroussi, Greece.
Further Reading
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