Manatuck Hill Partners LLC Has $3.92 Million Position in Star Bulk Carriers Corp. $SBLK

Manatuck Hill Partners LLC increased its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 117.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 203,800 shares of the shipping company’s stock after buying an additional 110,000 shares during the period. Star Bulk Carriers accounts for 1.4% of Manatuck Hill Partners LLC’s portfolio, making the stock its 28th largest holding. Manatuck Hill Partners LLC owned 0.17% of Star Bulk Carriers worth $3,917,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in Star Bulk Carriers in the fourth quarter worth approximately $26,000. Triumph Capital Management acquired a new position in Star Bulk Carriers in the third quarter worth approximately $26,000. Rhumbline Advisers increased its holdings in Star Bulk Carriers by 141.7% in the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock worth $32,000 after buying an additional 1,022 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Star Bulk Carriers in the third quarter worth approximately $33,000. Finally, Leonteq Securities AG acquired a new position in Star Bulk Carriers in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 33.91% of the company’s stock.

Insider Buying and Selling

In other news, Director Nikolaos Karellis sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $26.96, for a total transaction of $539,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Nikolaos Reskos sold 33,103 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $26.28, for a total value of $869,946.84. Following the transaction, the chief operating officer owned 407,775 shares of the company’s stock, valued at $10,716,327. The trade was a 7.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 108,103 shares of company stock worth $2,886,212 over the last quarter. 0.90% of the stock is owned by company insiders.

Star Bulk Carriers Stock Up 0.5%

Shares of SBLK stock opened at $26.75 on Thursday. The stock has a market cap of $3.03 billion, a P/E ratio of 21.40 and a beta of 0.72. Star Bulk Carriers Corp. has a one year low of $16.21 and a one year high of $28.50. The stock has a fifty day moving average price of $26.05 and a 200 day moving average price of $23.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.73 and a quick ratio of 1.55.

Star Bulk Carriers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 12th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, June 12th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.37. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.5%. Star Bulk Carriers’s dividend payout ratio (DPR) is currently 160.00%.

Analyst Upgrades and Downgrades

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

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.