Star Bulk Carriers (NASDAQ:SBLK) Insider Sells $322,801.50 in Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) insider Charis Plakantonaki sold 10,825 shares of Star Bulk Carriers stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $29.82, for a total transaction of $322,801.50. Following the sale, the insider directly owned 55,778 shares in the company, valued at $1,663,299.96. The trade was a 16.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Charis Plakantonaki also recently made the following trade(s):

• On Friday, August 14th, Charis Plakantonaki sold 10,825 shares of Star Bulk Carriers stock. The stock was sold at an average price of $28.95, for a total value of $313,383.75.

Star Bulk Carriers Price Performance

SBLK opened at $30.13 on Wednesday. The firm has a market cap of $3.42 billion, a PE ratio of 11.82 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.74. Star Bulk Carriers Corp. has a 1 year low of $16.72 and a 1 year high of $30.25. The stock has a 50-day moving average price of $26.95 and a 200-day moving average price of $25.53.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.26. Star Bulk Carriers had a return on equity of 11.72% and a net margin of 23.87%.The business had revenue of $284.60 million for the quarter, compared to analysts’ expectations of $284.29 million. Sell-side analysts predict that Star Bulk Carriers Corp. will post 4.32 earnings per share for the current fiscal year.

Star Bulk Carriers Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, August 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 11.9%. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.50. Star Bulk Carriers’s dividend payout ratio is presently 78.43%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SBLK shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $32.00 price objective on shares of Star Bulk Carriers in a research note on Friday, May 22nd. Jefferies Financial Group lifted their price objective 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. Zacks Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. Finally, Weiss Ratings upgraded Star Bulk Carriers from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $31.50.

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 stake in shares of Star Bulk Carriers during the third quarter worth $26,000. Rhumbline Advisers increased 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 buying an additional 1,022 shares during the period. Sunbelt Securities Inc. bought a new stake in Star Bulk Carriers during the 3rd quarter valued at about $33,000. Morse Asset Management Inc purchased a new stake in Star Bulk Carriers in the 3rd quarter valued at about $37,000. Finally, Leonteq Securities AG bought a new position in Star Bulk Carriers in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.

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.