Impala Asset Management LLC Sells 47,000 Shares of Star Bulk Carriers Corp. $SBLK

Impala Asset Management LLC trimmed its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 28.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,000 shares of the shipping company’s stock after selling 47,000 shares during the period. Star Bulk Carriers makes up approximately 1.3% of Impala Asset Management LLC’s holdings, making the stock its 15th biggest holding. Impala Asset Management LLC owned 0.11% of Star Bulk Carriers worth $2,756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in shares of Star Bulk Carriers by 10.3% in the 4th 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 in the last quarter. Magnetar Financial LLC raised its stake in Star Bulk Carriers by 3.1% during the 4th quarter. Magnetar Financial LLC now owns 20,001 shares of the shipping company’s stock worth $384,000 after buying an additional 604 shares during the period. BNP Paribas Financial Markets lifted its holdings in 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 worth $236,000 after acquiring an additional 616 shares in the last quarter. Vident Advisory LLC lifted its holdings in Star Bulk Carriers by 5.6% during the third quarter. Vident Advisory LLC now owns 16,902 shares of the shipping company’s stock worth $314,000 after acquiring an additional 891 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Star Bulk Carriers by 8.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,399 shares of the shipping company’s stock worth $238,000 after buying an additional 983 shares during the period. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Up 0.3%

Star Bulk Carriers stock opened at $26.77 on Thursday. The company’s 50-day moving average price is $26.39 and its two-hundred day moving average price is $24.49. The company has a quick ratio of 1.55, a current ratio of 1.73 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.04 billion, a P/E ratio of 21.42 and a beta of 0.72. Star Bulk Carriers Corp. has a twelve month low of $16.72 and a twelve month high of $28.50.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 12th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.5%. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, June 12th. Star Bulk Carriers’s dividend payout ratio is 160.00%.

Analysts Set New Price Targets

SBLK has been the topic of several analyst reports. Jefferies Financial Group boosted their price target on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Wednesday, June 24th. Wall Street Zen upgraded Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Zacks Research downgraded Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $32.00 target price on shares of Star Bulk Carriers in a report on Friday, May 22nd. Two analysts have 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Insiders Place Their Bets

In other Star Bulk Carriers news, Director Nikolaos Karellis sold 20,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $26.96, for a total value of $539,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Nikolaos Reskos sold 33,103 shares of the stock in a transaction on 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 in the company, valued at $10,716,327. The trade was a 7.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 98,103 shares of company stock worth $2,635,792. Insiders own 0.90% of the company’s stock.

Star Bulk Carriers Company Profile

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.