Star Bulk Carriers (NASDAQ:SBLK) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.58 and traded as high as $27.41. Star Bulk Carriers shares last traded at $27.25, with a volume of 1,592,510 shares.

Wall Street Analyst Weigh In

SBLK has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $32.00 price target on shares of Star Bulk Carriers in a research report on Friday, May 22nd. Zacks Research raised Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen raised Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Friday, March 27th. Finally, Jefferies Financial Group boosted their price target on Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $31.50.

Star Bulk Carriers Trading Up 0.3%

The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 21.80 and a beta of 0.71. The business has a 50-day moving average of $25.02 and a two-hundred day moving average of $22.58.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.10. The firm had revenue of $230.79 million during the quarter, compared to analyst estimates of $250.51 million. Star Bulk Carriers had a net margin of 13.01% and a return on equity of 6.81%. Research analysts predict that Star Bulk Carriers Corp. will post 3.85 EPS for the current fiscal year.

Star Bulk Carriers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 12th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 7.3%. Star Bulk Carriers’s dividend payout ratio (DPR) is 118.40%.

Insider Buying and Selling at Star Bulk Carriers

In other news, COO Nikolaos Reskos sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $27.29, for a total transaction of $818,700.00. Following the completion of the sale, the chief operating officer owned 367,775 shares of the company’s stock, valued at approximately $10,036,579.75. This trade represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 83,103 shares of company stock worth $2,204,562 over the last three months. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Star Bulk Carriers

Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its holdings 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 worth $87,000 after buying an additional 422 shares in the last quarter. Magnetar Financial LLC increased its holdings 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 worth $384,000 after buying an additional 604 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Star Bulk Carriers by 4.7% in the second quarter. BNP Paribas Financial Markets now owns 13,695 shares of the shipping company’s stock valued at $236,000 after purchasing an additional 616 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Star Bulk Carriers by 50.8% in the third quarter. Jones Financial Companies Lllp now owns 2,381 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 802 shares in the last quarter. Finally, Vident Advisory LLC increased its holdings in shares of Star Bulk Carriers by 5.6% in the third quarter. Vident Advisory LLC now owns 16,902 shares of the shipping company’s stock valued at $314,000 after purchasing an additional 891 shares in the last quarter. Institutional investors and hedge funds own 33.91% 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.