Star Bulk Carriers (NASDAQ:SBLK) Stock Passes Above 200-Day Moving Average – Should You Sell?

Star Bulk Carriers Corp. (NASDAQ:SBLK) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.72 and traded as high as $25.34. Star Bulk Carriers shares last traded at $24.81, with a volume of 918,713 shares trading hands.

Wall Street Analyst Weigh In

SBLK has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Wednesday, June 24th. Jefferies Financial Group upped their price objective on Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $32.00 target price on shares of Star Bulk Carriers in a research report on Friday, May 22nd. Wall Street Zen raised shares of Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Finally, Zacks Research cut shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Star Bulk Carriers Price Performance

The stock has a market cap of $2.85 billion, a PE ratio of 20.12 and a beta of 0.72. The business has a fifty day moving average of $26.28 and a 200-day moving average of $23.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.73 and a quick ratio of 1.55.

Star Bulk Carriers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 12th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 8.0%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, June 12th. Star Bulk Carriers’s payout ratio is currently 160.00%.

Insider Activity

In other news, COO Nikolaos Reskos sold 33,103 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $26.28, for a total value of $869,946.84. Following the completion of the sale, the chief operating officer owned 407,775 shares in the company, valued at approximately $10,716,327. The trade was a 7.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nikolaos Karellis sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $26.96, for a total transaction of $539,200.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 108,103 shares of company stock worth $2,886,212. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Star Bulk Carriers

Institutional investors have recently bought and sold shares of the business. USA Financial Formulas purchased a new stake in Star Bulk Carriers during the fourth quarter worth $26,000. Triumph Capital Management bought a new position in shares of Star Bulk Carriers in the 3rd quarter worth $26,000. Rhumbline Advisers lifted its stake in shares of Star Bulk Carriers by 141.7% during the 3rd 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 last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Star Bulk Carriers during the 3rd quarter worth $33,000. Finally, Morse Asset Management Inc bought a new stake in Star Bulk Carriers during the third quarter valued at about $37,000. 33.91% of the stock is owned by hedge funds and other institutional investors.

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.