Nikolaos Reskos Sells 5,000 Shares of Star Bulk Carriers (NASDAQ:SBLK) Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) COO Nikolaos Reskos sold 5,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.50, for a total value of $147,500.00. Following the completion of the sale, the chief operating officer owned 400,875 shares of the company’s stock, valued at $11,825,812.50. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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, July 30th, Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $28.99, for a total value of $144,950.00.
• On Monday, June 1st, Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $28.49, for a total value of $142,450.00.
• 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 stock was 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 stock was 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 value of $2,278.14.

Star Bulk Carriers Stock Up 1.1%

SBLK stock opened at $28.90 on Friday. The business’s 50-day moving average price is $26.73 and its 200-day moving average price is $25.14. The stock has a market cap of $3.28 billion, a P/E ratio of 11.33 and a beta of 0.72. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. Star Bulk Carriers Corp. has a twelve month low of $16.72 and a twelve month high of $29.50.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 12.5%. The ex-dividend date is Friday, August 21st. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.50. Star Bulk Carriers’s dividend payout ratio (DPR) is 78.43%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SBLK. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $32.00 price target on shares of Star Bulk Carriers in a research 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 research note on Saturday, April 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a report on Wednesday, June 24th. Zacks Research downgraded shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Jefferies Financial Group increased their price target on Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Hedge Funds Weigh In On Star Bulk Carriers

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Triumph Capital Management purchased a new position in Star Bulk Carriers during the third quarter valued at $26,000. Rhumbline Advisers lifted its stake in Star Bulk Carriers by 141.7% in 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 in the last quarter. Sunbelt Securities Inc. bought a new position in shares of Star Bulk Carriers during the 3rd quarter valued at about $33,000. Leonteq Securities AG bought a new position in shares of Star Bulk Carriers during the 4th quarter valued at about $38,000. Finally, Morse Asset Management Inc purchased a new position in shares of Star Bulk Carriers during the third quarter valued at about $37,000. Institutional investors own 33.91% of the company’s stock.

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.