Star Bulk Carriers (NASDAQ:SBLK) Insider Charis Plakantonaki Buys 3,000 Shares

Star Bulk Carriers Corp. (NASDAQ:SBLK) insider Charis Plakantonaki bought 3,000 shares of Star Bulk Carriers stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average cost of $28.27 per share, for a total transaction of $84,810.00. Following the acquisition, the insider owned 58,778 shares in the company, valued at $1,661,654.06. The trade was a 5.38% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, August 17th, Charis Plakantonaki sold 10,825 shares of Star Bulk Carriers stock. The stock was sold at an average price of $29.82, for a total transaction of $322,801.50.
• 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 transaction of $313,383.75.

Star Bulk Carriers Stock Performance

NASDAQ SBLK opened at $31.75 on Friday. The company has a 50-day simple moving average of $29.17 and a two-hundred day simple moving average of $26.62. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. Star Bulk Carriers Corp. has a 12-month low of $16.72 and a 12-month high of $32.88. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 12.45 and a beta of 0.70.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.26. Star Bulk Carriers had a return on equity of 11.72% and a net margin of 23.87%.The firm had revenue of $284.60 million for the quarter, compared to analysts’ expectations of $284.29 million. On average, equities analysts forecast that Star Bulk Carriers Corp. will post 4.32 EPS for the current year.

Star Bulk Carriers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Friday, August 21st were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 11.3%. The ex-dividend date was Friday, August 21st. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.50. Star Bulk Carriers’s dividend payout ratio is 141.18%.

Key Stories Impacting Star Bulk Carriers

Here are the key news stories impacting Star Bulk Carriers this week:

• Positive Sentiment: Multiple insiders bought SBLK shares at approximately $28.27 on September 15. Purchases included 10,000 shares by COO Nikolaos Rescos, 15,000 by CFO Symeon Spyrou, 74,400 by Alexandros Pappas, 60,000 by director Raffaele Zagari, and additional buying by directors Koert Erhardt, Nikolaos Karellis and Charis Plakantonaki. The concentrated buying suggests several insiders view the shares as attractively valued and may support investor sentiment. Recent insider purchases
• Positive Sentiment: Star Bulk secured approximately €107.8 million through its Euronext Athens listing, with strong reported investor interest. The capital could provide flexibility for fleet investments, debt management or other growth initiatives. Euronext Athens fundraising
• Positive Sentiment: Recent operating results also provide support: quarterly EPS of $1.21 exceeded the $0.95 consensus estimate, and the company raised its quarterly dividend to $0.90 from $0.50. Analysts maintain a broadly positive view, including a reported consensus “Buy” rating. SBLK insider and company overview
• Neutral Sentiment: The Euronext listing and designation of Greece as the company’s home member state may expand access to European investors, but these administrative changes do not immediately alter earnings or cash flow. Euronext listing announcement
• Negative Sentiment: The follow-on offering involves approximately 4.4 million new shares. While the proceeds may fund fleet expansion, the higher share count can dilute existing shareholders and is the main near-term risk to SBLK’s valuation. Follow-on offering details

Institutional Investors Weigh In On Star Bulk Carriers

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC lifted its stake in shares of Star Bulk Carriers by 0.8% in the second quarter. Headlands Technologies LLC now owns 66,333 shares of the shipping company’s stock worth $1,656,000 after buying an additional 518 shares in the last quarter. Leonteq Securities AG purchased a new position in Star Bulk Carriers in the 4th quarter worth approximately $38,000. BTG Pactual Asset Management US LLC lifted its position in Star Bulk Carriers by 3.9% in the 2nd quarter. BTG Pactual Asset Management US LLC now owns 53,570 shares of the shipping company’s stock valued at $1,338,000 after acquiring an additional 1,986 shares in the last quarter. Kestra Advisory Services LLC lifted its position in Star Bulk Carriers by 21.8% in the 1st quarter. Kestra Advisory Services LLC now owns 18,335 shares of the shipping company’s stock valued at $421,000 after acquiring an additional 3,281 shares in the last quarter. Finally, State of Wyoming boosted its stake in Star Bulk Carriers by 190.3% during the 1st quarter. State of Wyoming now owns 10,363 shares of the shipping company’s stock valued at $238,000 after purchasing an additional 6,793 shares during the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBLK has been the subject of a number of analyst reports. Zacks Research raised Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 14th. Jefferies Financial Group lifted their target price on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of Star Bulk Carriers from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $32.00 price target on shares of Star Bulk Carriers in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat, Star Bulk Carriers has a consensus rating of “Buy” and an average target price of $31.50.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp. is a global dry bulk shipping company that owns and operates vessels used to transport major and minor bulk commodities. Its fleet serves the international supply chains for iron ore, grain, bauxite, fertilizers, steel products and other dry cargoes.

The company operates a diversified fleet that includes large Capesize and Newcastlemax vessels as well as Panamax, Ultramax and Supramax bulk carriers. Star Bulk’s vessels serve customers and ports across major shipping routes worldwide, supporting commodity trade between producers, exporters and end markets.

Star Bulk Carriers was founded in 2006 and is headquartered in Maroussi, Greece, with the company incorporated in the Marshall Islands.