Star Bulk Carriers Corp. (NASDAQ:SBLK) Short Interest Update

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,733,952 shares, an increase of 30.4% from the December 15th total of 1,329,513 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 1,275,397 shares, the short-interest ratio is presently 1.4 days. Based on an average daily volume of 1,275,397 shares, the short-interest ratio is presently 1.4 days. Approximately 1.5% of the shares of the company are sold short.

Star Bulk Carriers Stock Down 2.5%

Shares of NASDAQ:SBLK traded down $0.53 during mid-day trading on Friday, hitting $20.37. 2,364,538 shares of the company traded hands, compared to its average volume of 1,185,965. The firm has a market cap of $2.40 billion, a P/E ratio of 39.17 and a beta of 0.75. The firm’s 50 day simple moving average is $19.42 and its 200 day simple moving average is $18.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 1.72. Star Bulk Carriers has a 52-week low of $12.06 and a 52-week high of $21.44.

Star Bulk Carriers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Friday, December 5th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, December 5th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.05. Star Bulk Carriers’s dividend payout ratio is currently 84.62%.

Analyst Ratings Changes

Several analysts have recently commented on SBLK shares. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Monday, December 29th. Zacks Research raised shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Star Bulk Carriers presently has a consensus rating of “Buy” and an average price target of $22.00.

Hedge Funds Weigh In On Star Bulk Carriers

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of Star Bulk Carriers by 94.3% during the first quarter. Royal Bank of Canada now owns 117,275 shares of the shipping company’s stock worth $1,825,000 after purchasing an additional 56,930 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Star Bulk Carriers by 59.7% during the 1st 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 buying an additional 485,436 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Star Bulk Carriers during the second quarter worth about $57,227,000. Arrow Investment Advisors LLC acquired a new stake in Star Bulk Carriers during the second quarter worth about $228,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Star Bulk Carriers by 34.0% in the second quarter. Public Employees Retirement System of Ohio now owns 3,402 shares of the shipping company’s stock worth $59,000 after acquiring an additional 864 shares during the last quarter. Institutional investors and hedge funds 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.