Star Bulk Carriers (NASDAQ:SBLK) Shares Up 5.4% – Should You Buy?

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s stock price was up 5.4% during mid-day trading on Monday . The company traded as high as $26.34 and last traded at $26.2360. 395,918 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 1,390,845 shares. The stock had previously closed at $24.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $32.00 price target on shares of Star Bulk Carriers in a report on Friday, May 22nd. Zacks Research lowered shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group lifted their target price on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Star Bulk Carriers Stock Up 4.8%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.73. The company has a market cap of $2.96 billion, a PE ratio of 20.86 and a beta of 0.72. The firm has a fifty day simple moving average of $26.41 and a 200 day simple moving average of $24.34.

Star Bulk Carriers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 12th were issued a $0.50 dividend. The ex-dividend date was Friday, June 12th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.37. This represents a $2.00 dividend on an annualized basis and a yield of 7.7%. Star Bulk Carriers’s payout ratio is presently 160.00%.

Insider Activity at Star Bulk Carriers

In other news, Director Nikolaos Karellis sold 20,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $26.96, for a total transaction of $539,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Nikolaos Reskos sold 33,103 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $26.28, for a total transaction of $869,946.84. Following the sale, the chief operating officer directly owned 407,775 shares of the company’s stock, valued at $10,716,327. This represents a 7.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 98,103 shares of company stock valued at $2,635,792 in the last ninety days. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. USA Financial Formulas acquired a new stake in Star Bulk Carriers during the fourth quarter worth about $26,000. Triumph Capital Management acquired a new position in shares of Star Bulk Carriers in the 3rd quarter valued at about $26,000. Rhumbline Advisers lifted its stake in shares of 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 purchasing an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Star Bulk Carriers during the 3rd quarter worth about $33,000. Finally, Leonteq Securities AG purchased a new stake in shares of Star Bulk Carriers during the 4th quarter worth about $38,000. 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.