Y Intercept Hong Kong Ltd bought a new position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 144,945 shares of the shipping company’s stock, valued at approximately $3,329,000. Y Intercept Hong Kong Ltd owned 0.13% of Star Bulk Carriers as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of SBLK. SG Americas Securities LLC purchased a new stake in Star Bulk Carriers in the first quarter valued at $187,000. Fearnley Asset Management AS purchased a new position in Star Bulk Carriers during the fourth quarter valued at approximately $11,096,000. XTX Topco Ltd purchased a new position in Star Bulk Carriers during the fourth quarter valued at approximately $2,505,000. Voloridge Investment Management LLC acquired a new position in Star Bulk Carriers in the fourth quarter valued at approximately $3,808,000. Finally, Millennium Management LLC boosted its position in Star Bulk Carriers by 1,018.5% in the 4th quarter. Millennium Management LLC now owns 887,056 shares of the shipping company’s stock worth $17,049,000 after purchasing an additional 807,751 shares in the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.
Star Bulk Carriers Price Performance
Shares of SBLK stock traded up $0.13 during midday trading on Tuesday, reaching $26.25. 674,625 shares of the company were exchanged, compared to its average volume of 1,416,322. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.73. Star Bulk Carriers Corp. has a 12 month low of $16.72 and a 12 month high of $28.50. The company has a market cap of $2.98 billion, a P/E ratio of 21.00 and a beta of 0.72. The company’s 50 day moving average price is $26.32 and its two-hundred day moving average price is $23.88.
Star Bulk Carriers Increases Dividend
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. 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. Wall Street Zen raised Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $32.00 price target on shares of Star Bulk Carriers in a report on Friday, May 22nd. Finally, Jefferies Financial Group boosted their price objective on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Star Bulk Carriers presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.
Read Our Latest Research Report on SBLK
Insider Buying and Selling
In other Star Bulk Carriers news, Director Nikolaos Karellis sold 20,000 shares of the company’s stock in a transaction dated 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 SEC, which can be accessed through this link. Also, COO Nikolaos Reskos sold 33,103 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was 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 approximately $10,716,327. The trade was a 7.51% decrease in their position. 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. Over the last three months, insiders sold 108,103 shares of company stock valued at $2,886,212.
Star Bulk Carriers 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.
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