Insider Selling: Star Bulk Carriers (NASDAQ:SBLK) COO Sells 5,000 Shares of Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) COO Nikolaos Reskos sold 5,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $28.49, for a total value of $142,450.00. Following the sale, the chief operating officer owned 362,775 shares in the company, valued at $10,335,459.75. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nikolaos Reskos also recently made the following trade(s):

• On Thursday, May 21st, Nikolaos Reskos sold 30,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $27.29, for a total value of $818,700.00.
• On Wednesday, May 20th, Nikolaos Reskos sold 9,914 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.55, for a total value of $263,216.70.
• On Monday, May 18th, Nikolaos Reskos sold 33,103 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.28, for a total value of $869,946.84.
• On Tuesday, May 19th, Nikolaos Reskos sold 86 shares of Star Bulk Carriers stock. The stock was sold at an average price of $26.49, for a total transaction of $2,278.14.
• On Wednesday, April 15th, Nikolaos Reskos sold 8,406 shares of Star Bulk Carriers stock. The stock was sold at an average price of $25.05, for a total transaction of $210,570.30.
• On Tuesday, April 14th, Nikolaos Reskos sold 1,594 shares of Star Bulk Carriers stock. The stock was sold at an average price of $25.00, for a total transaction of $39,850.00.

Star Bulk Carriers Price Performance

Star Bulk Carriers stock opened at $27.40 on Wednesday. Star Bulk Carriers Corp. has a 52-week low of $15.84 and a 52-week high of $28.50. The firm has a fifty day moving average of $25.13 and a 200-day moving average of $22.68. The firm has a market capitalization of $3.11 billion, a P/E ratio of 21.92 and a beta of 0.72. The company has a quick ratio of 1.55, a current ratio of 1.73 and a debt-to-equity ratio of 0.32.

Star Bulk Carriers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 12th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 12th. This is an increase 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 currently 118.40%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SBLK. Zacks Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group increased their target price on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wall Street Zen raised shares of Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Star Bulk Carriers in a report on Friday, May 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Star Bulk Carriers presently has an average rating of “Buy” and a consensus price target of $31.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SBLK. USA Financial Formulas acquired a new position in shares of Star Bulk Carriers in the fourth quarter worth about $26,000. Triumph Capital Management acquired a new stake in shares of Star Bulk Carriers during the third quarter worth approximately $26,000. Rhumbline Advisers boosted its holdings in shares of Star Bulk Carriers by 141.7% during the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,022 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Star Bulk Carriers during the third quarter worth approximately $33,000. Finally, Morse Asset Management Inc bought a new position in shares of Star Bulk Carriers during the 3rd quarter valued at $37,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

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.