Nikolaos Reskos Sells 5,000 Shares of Star Bulk Carriers (NASDAQ:SBLK) Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) COO Nikolaos Reskos sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $28.49, for a total transaction of $142,450.00. Following the transaction, the chief operating officer owned 362,775 shares in the company, valued at $10,335,459.75. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nikolaos Reskos also recently made the following trade(s):

• On Thursday, May 21st, Nikolaos Reskos sold 30,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $27.29, for a total value of $818,700.00.
• On Wednesday, May 20th, Nikolaos Reskos sold 9,914 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.55, for a total value of $263,216.70.
• On Monday, May 18th, Nikolaos Reskos sold 33,103 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.28, for a total value of $869,946.84.
• On Tuesday, May 19th, Nikolaos Reskos sold 86 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.49, for a total value of $2,278.14.
• On Wednesday, April 15th, Nikolaos Reskos sold 8,406 shares of Star Bulk Carriers stock. The shares were sold at an average price of $25.05, for a total value of $210,570.30.
• On Tuesday, April 14th, Nikolaos Reskos sold 1,594 shares of Star Bulk Carriers stock. The shares were sold at an average price of $25.00, for a total value of $39,850.00.

Star Bulk Carriers Stock Performance

NASDAQ:SBLK opened at $27.15 on Friday. The firm has a market cap of $3.08 billion, a PE ratio of 21.72 and a beta of 0.72. Star Bulk Carriers Corp. has a fifty-two week low of $16.21 and a fifty-two week high of $28.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.73. The business has a 50 day moving average price of $25.39 and a 200-day moving average price of $22.85.

Star Bulk Carriers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 12th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.4%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, June 12th. Star Bulk Carriers’s payout ratio is currently 118.40%.

Analyst Ratings Changes

A number of analysts have recently weighed in on SBLK shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $32.00 price objective on shares of Star Bulk Carriers in a research note on Friday, May 22nd. Wall Street Zen raised Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Friday, March 27th. Zacks Research upgraded Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group upped their target price on Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Star Bulk Carriers currently has an average rating of “Buy” and a consensus target price of $31.50.

Hedge Funds Weigh In On Star Bulk Carriers

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its position in shares of Star Bulk Carriers by 10.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,536 shares of the shipping company’s stock valued at $87,000 after buying an additional 422 shares during the last quarter. Magnetar Financial LLC boosted its position in shares of Star Bulk Carriers by 3.1% during the fourth quarter. Magnetar Financial LLC now owns 20,001 shares of the shipping company’s stock valued at $384,000 after buying an additional 604 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of 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 valued at $236,000 after buying an additional 616 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Star Bulk Carriers by 50.8% during the third quarter. Jones Financial Companies Lllp now owns 2,381 shares of the shipping company’s stock valued at $46,000 after buying an additional 802 shares during the last quarter. Finally, Vident Advisory LLC boosted its position in shares of Star Bulk Carriers by 5.6% during the third quarter. Vident Advisory LLC now owns 16,902 shares of the shipping company’s stock valued at $314,000 after buying an additional 891 shares during the last quarter. Institutional investors own 33.91% of the company’s stock.

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.