Star Bulk Carriers Corp. (NASDAQ:SBLK – Get Free Report) 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 transaction, the chief operating officer 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nikolaos Reskos also recently made the following trade(s):
- 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.
- On Wednesday, April 15th, Nikolaos Reskos sold 8,406 shares of Star Bulk Carriers stock. The shares were sold at an average price of $25.05, for a total value of $210,570.30.
- On Tuesday, April 14th, Nikolaos Reskos sold 1,594 shares of Star Bulk Carriers stock. The shares were sold at an average price of $25.00, for a total value of $39,850.00.
Star Bulk Carriers Stock Down 1.1%
Shares of SBLK opened at $26.08 on Wednesday. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 35.73 and a beta of 0.71. Star Bulk Carriers Corp. has a 52 week low of $15.78 and a 52 week high of $27.69. The stock’s 50-day moving average price is $24.35 and its 200-day moving average price is $22.13. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.34.
Star Bulk Carriers Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were paid a $0.37 dividend. The ex-dividend date was Monday, March 9th. This represents a $1.48 annualized dividend and a dividend yield of 5.7%. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.11. Star Bulk Carriers’s dividend payout ratio (DPR) is presently 202.74%.
Institutional Trading of Star Bulk Carriers
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in Star Bulk Carriers by 94.3% in the 1st quarter. Royal Bank of Canada now owns 117,275 shares of the shipping company’s stock valued at $1,825,000 after buying an additional 56,930 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Star Bulk Carriers by 59.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company’s stock valued at $20,204,000 after acquiring an additional 485,436 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Star Bulk Carriers by 2.3% in the second quarter. Geode Capital Management LLC now owns 122,115 shares of the shipping company’s stock valued at $2,106,000 after acquiring an additional 2,748 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Star Bulk Carriers by 673.1% in the second quarter. JPMorgan Chase & Co. now owns 49,471 shares of the shipping company’s stock valued at $853,000 after acquiring an additional 43,072 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Star Bulk Carriers in the second quarter worth approximately $1,444,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 18th. Jefferies Financial Group assumed coverage on Star Bulk Carriers in a research note on Friday, April 24th. They issued a “buy” rating and a $29.00 price target for the company. Zacks Research raised Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $29.00.
Read Our Latest Stock Report on SBLK
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.
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