Star Bulk Carriers Corp. (NASDAQ:SBLK) Short Interest Up 30.4% in December

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,733,952 shares, a growth of 30.4% from the December 15th total of 1,329,513 shares. Based on an average daily volume of 1,275,397 shares, the short-interest ratio is currently 1.4 days. Approximately 1.5% of the shares of the company are sold short. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 1,275,397 shares, the short-interest ratio is currently 1.4 days.

Star Bulk Carriers Price Performance

Star Bulk Carriers stock traded down $0.53 during mid-day trading on Monday, hitting $20.37. The stock had a trading volume of 2,364,538 shares, compared to its average volume of 1,185,965. The firm has a market capitalization of $2.40 billion, a P/E ratio of 39.17 and a beta of 0.75. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $19.42 and its 200 day moving average is $18.88. Star Bulk Carriers has a one year low of $12.06 and a one year high of $21.44.

Star Bulk Carriers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Friday, December 5th were issued a $0.11 dividend. The ex-dividend date was Friday, December 5th. This represents a $0.44 dividend on an annualized basis and a yield of 2.2%. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.05. Star Bulk Carriers’s payout ratio is presently 84.62%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 target price on shares of Star Bulk Carriers in a report on Wednesday, November 19th. Zacks Research raised shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $22.00.

Institutional Investors Weigh In On Star Bulk Carriers

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Star Bulk Carriers by 94.3% during the first quarter. Royal Bank of Canada now owns 117,275 shares of the shipping company’s stock valued at $1,825,000 after buying an additional 56,930 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Star Bulk Carriers by 59.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company’s stock valued at $20,204,000 after purchasing an additional 485,436 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Star Bulk Carriers during the second quarter valued at $57,227,000. Arrow Investment Advisors LLC purchased a new position in shares of Star Bulk Carriers in the 2nd quarter worth $228,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Star Bulk Carriers by 34.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,402 shares of the shipping company’s stock valued at $59,000 after buying an additional 864 shares in the last quarter. 33.91% of the stock is owned by institutional investors.

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.