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

Star Bulk Carriers Corp. (NASDAQ:SBLK) insider Charis Plakantonaki sold 10,825 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $28.95, for a total value of $313,383.75. Following the completion of the transaction, the insider owned 66,603 shares of the company’s stock, valued at approximately $1,928,156.85. This represents a 13.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Star Bulk Carriers Price Performance

Shares of NASDAQ:SBLK opened at $30.13 on Wednesday. Star Bulk Carriers Corp. has a one year low of $16.72 and a one year high of $30.25. The stock has a market cap of $3.42 billion, a PE ratio of 11.82 and a beta of 0.72. The business’s fifty day moving average price is $26.95 and its two-hundred day moving average price is $25.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 1.91.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly 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 business had revenue of $284.60 million during the quarter, compared to the consensus estimate of $284.29 million. On average, analysts forecast that Star Bulk Carriers Corp. will post 4.32 EPS for the current fiscal year.

Star Bulk Carriers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.60 annualized dividend and a dividend yield of 11.9%. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.50. Star Bulk Carriers’s dividend payout ratio is presently 78.43%.

Wall Street Analyst Weigh In

Several research analysts have commented on SBLK shares. Zacks Research raised Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $32.00 price target on shares of Star Bulk Carriers in a report on Friday, May 22nd. Weiss Ratings raised shares of Star Bulk Carriers from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group raised their price target 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 given a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $31.50.

Institutional Investors Weigh In On Star Bulk Carriers

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in Star Bulk Carriers by 94.3% in 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 increased its holdings in shares of Star Bulk Carriers by 59.7% in the 1st 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 worth $20,204,000 after acquiring an additional 485,436 shares during the period. Geode Capital Management LLC increased its holdings in shares of Star Bulk Carriers by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 122,115 shares of the shipping company’s stock worth $2,106,000 after acquiring an additional 2,748 shares during the period. JPMorgan Chase & Co. lifted its position in Star Bulk Carriers by 673.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 49,471 shares of the shipping company’s stock valued at $853,000 after purchasing an additional 43,072 shares during the last quarter. Finally, Norges Bank acquired a new position in Star Bulk Carriers during the 2nd quarter valued at about $1,444,000. 33.91% of the stock is owned by institutional investors and hedge funds.

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.