Insider Selling: Star Bulk Carriers (NASDAQ:SBLK) Director Sells $112,420.00 in Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) Director Eleni Vrettou sold 3,500 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $32.12, for a total transaction of $112,420.00. Following the completion of the transaction, the director owned 73,686 shares of the company’s stock, valued at approximately $2,366,794.32. This trade represents a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Star Bulk Carriers Stock Performance

SBLK opened at $31.73 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $29.40 and its 200-day moving average is $26.70. The stock has a market cap of $3.60 billion, a PE ratio of 12.44 and a beta of 0.70. Star Bulk Carriers Corp. has a twelve month low of $16.72 and a twelve month high of $32.88.

Star Bulk Carriers (NASDAQ:SBLK) last posted its earnings results on Wednesday, August 5th. The shipping company reported $1.21 EPS for the quarter, beating the consensus estimate 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, analysts predict that Star Bulk Carriers Corp. will post 4.32 earnings per share for the current year.

Star Bulk Carriers Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their price target on Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings raised Star Bulk Carriers from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 27th. Finally, Zacks Research cut shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research report on Friday. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Star Bulk Carriers presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Institutional Trading of Star Bulk Carriers

Large investors have recently added to or reduced their stakes in the company. Impala Asset Management LLC lifted its holdings in shares of Star Bulk Carriers by 39.2% in the fourth quarter. Impala Asset Management LLC now owns 167,000 shares of the shipping company’s stock valued at $3,210,000 after purchasing an additional 47,000 shares in the last quarter. Bank of America Corp DE lifted its stake in Star Bulk Carriers by 48.5% in the 1st quarter. Bank of America Corp DE now owns 565,562 shares of the shipping company’s stock worth $12,991,000 after acquiring an additional 184,837 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Star Bulk Carriers during the 1st quarter worth about $909,000. Counterpoint Mutual Funds LLC purchased a new position in Star Bulk Carriers during the 1st quarter valued at about $4,788,000. Finally, Fearnley Asset Management AS purchased a new position in Star Bulk Carriers during the fourth quarter valued at approximately $11,096,000. 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 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.