Star Bulk Carriers Corp. (NASDAQ:SBLK) Sees Large Decline in Short Interest

Star Bulk Carriers Corp. (NASDAQ:SBLK) saw a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 1,192,565 shares, a decrease of 19.6% from the February 12th total of 1,482,556 shares. Based on an average daily volume of 1,990,149 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.0% of the company’s shares are short sold. Currently, 1.0% of the company’s shares are short sold. Based on an average daily volume of 1,990,149 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Trading of Star Bulk Carriers

Hedge funds and other institutional investors have recently bought and sold shares of the business. Triumph Capital Management bought a new position in shares of Star Bulk Carriers in the third quarter valued at $26,000. USA Financial Formulas acquired a new stake in shares of Star Bulk Carriers in the 4th quarter worth about $26,000. Rhumbline Advisers lifted its position in Star Bulk Carriers by 141.7% in the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. bought a new position in Star Bulk Carriers in the 3rd quarter valued at about $33,000. Finally, Morse Asset Management Inc acquired a new position in Star Bulk Carriers during the 3rd quarter valued at about $37,000. Institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Down 1.4%

Shares of SBLK stock traded down $0.31 on Friday, reaching $21.84. 1,238,241 shares of the company were exchanged, compared to its average volume of 2,122,724. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56. The company has a 50-day moving average of $22.85 and a 200-day moving average of $20.25. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 29.92 and a beta of 0.73. Star Bulk Carriers has a one year low of $12.06 and a one year high of $27.20.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. The business had revenue of $230.79 million for the quarter, compared to the consensus estimate of $250.51 million. Star Bulk Carriers had a return on equity of 3.90% and a net margin of 8.07%. Analysts anticipate that Star Bulk Carriers will post 1.74 earnings per share for the current year.

Star Bulk Carriers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Monday, March 9th. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.11. Star Bulk Carriers’s payout ratio is 202.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. Zacks Research downgraded Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Jefferies Financial Group restated a “buy” rating and set a $22.00 target price on shares of Star Bulk Carriers in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.00.

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.