Star Bulk Carriers (NASDAQ:SBLK) Insider Charis Plakantonaki Sells 10,825 Shares

Star Bulk Carriers Corp. (NASDAQ:SBLK) insider Charis Plakantonaki sold 10,825 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $29.82, for a total value of $322,801.50. Following the transaction, the insider directly owned 55,778 shares in the company, valued at $1,663,299.96. This represents a 16.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Charis Plakantonaki also recently made the following trade(s):

• On Friday, August 14th, Charis Plakantonaki sold 10,825 shares of Star Bulk Carriers stock. The stock was sold at an average price of $28.95, for a total value of $313,383.75.

Star Bulk Carriers Stock Performance

SBLK opened at $30.17 on Thursday. Star Bulk Carriers Corp. has a 52-week low of $16.72 and a 52-week high of $30.90. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.42 billion, a P/E ratio of 11.83 and a beta of 0.72. The firm’s 50-day moving average price is $27.02 and its 200-day moving average price is $25.58.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results on Wednesday, August 5th. The shipping company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.26. Star Bulk Carriers had a net margin of 23.87% and a return on equity of 11.72%. The company had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $284.29 million. As a group, equities analysts anticipate that Star Bulk Carriers Corp. will post 4.32 EPS for the current fiscal year.

Star Bulk Carriers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 11.9%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, August 21st. Star Bulk Carriers’s dividend payout ratio is presently 141.18%.

Institutional Trading of Star Bulk Carriers

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Triumph Capital Management acquired a new position in Star Bulk Carriers in the third quarter valued at approximately $26,000. Rhumbline Advisers increased its holdings in shares of Star Bulk Carriers by 141.7% during the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Star Bulk Carriers in the 3rd quarter valued at $33,000. Leonteq Securities AG purchased a new stake in Star Bulk Carriers during the fourth quarter worth $38,000. Finally, Morse Asset Management Inc acquired a new stake in Star Bulk Carriers during the third quarter valued at $37,000. 33.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SBLK shares. Weiss Ratings upgraded Star Bulk Carriers from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Zacks Research upgraded Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $32.00 price target on shares of Star Bulk Carriers in a research report on Friday, May 22nd. Finally, Jefferies Financial Group upped their price objective on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, Star Bulk Carriers 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.