Star Bulk Carriers (NASDAQ:SBLK) Director Sells $539,200.00 in Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) Director Nikolaos Karellis sold 20,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $26.96, for a total value of $539,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Star Bulk Carriers Stock Performance

NASDAQ SBLK opened at $27.15 on Monday. The business’s 50-day moving average price is $25.90 and its 200 day moving average price is $23.18. The company has a current ratio of 1.73, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. Star Bulk Carriers Corp. has a twelve month low of $16.21 and a twelve month high of $28.50. The company has a market capitalization of $3.08 billion, a PE ratio of 21.72 and a beta of 0.72.

Star Bulk Carriers Increases Dividend

The business 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. This represents a $2.00 annualized dividend and a dividend yield of 7.4%. The ex-dividend date is Friday, June 12th. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.37. Star Bulk Carriers’s payout ratio is currently 160.00%.

Institutional Investors Weigh In On Star Bulk Carriers

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its position in shares of 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 worth $1,825,000 after acquiring an additional 56,930 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Star Bulk Carriers by 59.7% during 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 valued at $20,204,000 after acquiring an additional 485,436 shares in the last quarter. Geode Capital Management LLC boosted its position in Star Bulk Carriers by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 122,115 shares of the shipping company’s stock worth $2,106,000 after purchasing an additional 2,748 shares during the period. JPMorgan Chase & Co. boosted its position in Star Bulk Carriers by 673.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 49,471 shares of the shipping company’s stock worth $853,000 after purchasing an additional 43,072 shares during the period. Finally, Norges Bank acquired a new stake in Star Bulk Carriers in the 2nd quarter valued at $1,444,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.