Star Bulk Carriers Corp. (NASDAQ:SBLK) Short Interest Update

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 1,329,513 shares, a growth of 69.8% from the November 30th total of 782,823 shares. Based on an average trading volume of 1,440,249 shares, the short-interest ratio is currently 0.9 days. Currently, 1.1% of the shares of the company are sold short. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 1,440,249 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of Star Bulk Carriers

Hedge funds have recently bought and sold shares of the company. Mirabella Financial Services LLP acquired a new position in Star Bulk Carriers during the 3rd quarter valued at $73,967,000. Alliancebernstein L.P. bought a new position in Star Bulk Carriers during the second quarter valued at about $64,949,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Star Bulk Carriers during the 2nd quarter worth approximately $57,227,000. Amundi increased its position in shares of Star Bulk Carriers by 59.1% during the first quarter. Amundi now owns 1,868,249 shares of the shipping company’s stock valued at $26,548,000 after purchasing an additional 693,683 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Star Bulk Carriers in the first quarter valued at $10,734,000. 33.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Jefferies Financial Group restated a “buy” rating and set a $22.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.00.

Star Bulk Carriers Price Performance

Shares of SBLK traded up $0.20 during midday trading on Monday, reaching $19.63. The stock had a trading volume of 1,095,309 shares, compared to its average volume of 1,488,103. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56. The company has a market capitalization of $2.31 billion, a P/E ratio of 37.73 and a beta of 0.75. The firm’s 50 day moving average price is $18.86 and its 200-day moving average price is $18.58. Star Bulk Carriers has a 52 week low of $12.06 and a 52 week high of $20.87.

Star Bulk Carriers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Friday, December 5th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.44 annualized dividend and a dividend yield of 2.2%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.05. Star Bulk Carriers’s dividend payout ratio is 84.62%.

About Star Bulk Carriers

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.