Star Bulk Carriers (NASDAQ:SBLK) COO Nikolaos Reskos Sells 9,914 Shares

Star Bulk Carriers Corp. (NASDAQ:SBLK) COO Nikolaos Reskos sold 9,914 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $26.55, for a total value of $263,216.70. Following the completion of the transaction, the chief operating officer owned 397,775 shares in the company, valued at approximately $10,560,926.25. This trade represents a 2.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nikolaos Reskos also recently made the following trade(s):

• On Thursday, May 21st, Nikolaos Reskos sold 30,000 shares of Star Bulk Carriers stock. The stock was sold at an average price of $27.29, for a total value of $818,700.00.
• On Monday, May 18th, Nikolaos Reskos sold 33,103 shares of Star Bulk Carriers stock. The stock was sold at an average price of $26.28, for a total value of $869,946.84.
• 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 stock was 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 stock was sold at an average price of $25.00, for a total value of $39,850.00.

Star Bulk Carriers Stock Performance

Shares of SBLK stock opened at $26.40 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.65 and a current ratio of 1.78. Star Bulk Carriers Corp. has a one year low of $15.78 and a one year high of $28.28. The company’s 50-day simple moving average is $24.53 and its 200-day simple moving average is $22.27. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 21.12 and a beta of 0.71.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.52 by $0.10. Star Bulk Carriers had a net margin of 13.01% and a return on equity of 6.82%. The business had revenue of $230.79 million for the quarter, compared to analysts’ expectations of $250.51 million. Equities analysts anticipate that Star Bulk Carriers Corp. will post 3.85 earnings per share for the current fiscal year.

Star Bulk Carriers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 12th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 12th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.37. This represents a $2.00 annualized dividend and a dividend yield of 7.6%. Star Bulk Carriers’s dividend payout ratio is 160.00%.

Key Headlines Impacting Star Bulk Carriers

Here are the key news stories impacting Star Bulk Carriers this week:

• Positive Sentiment: Star Bulk reported stronger-than-expected Q1 results, including earnings and revenue that beat analyst estimates, which supports the bullish case for the dry bulk shipping business. Article Title
• Positive Sentiment: The company declared a larger quarterly dividend of $0.50 per share, a 35.1% increase from the prior payout, signaling confidence in cash generation and shareholder returns. Article Title
• Positive Sentiment: Management outlined a plan to return 100% of free cash flow while maintaining a minimum $2.1 million per vessel cash balance, which may reassure investors about capital discipline and ongoing distributions. Article Title
• Neutral Sentiment: Several earnings-call transcripts and the Q1 presentation are circulating, keeping attention on operating trends, but they do not appear to add a new catalyst by themselves. Article Title
• Neutral Sentiment: COO Nikolaos Reskos disclosed several stock sales, including recent trades under a pre-arranged 10b5-1 plan; while notable, these sales are not necessarily a sign of worsening fundamentals. Article Title

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SBLK shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $32.00 price target on shares of Star Bulk Carriers in a research report on Friday. Zacks Research raised shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group started coverage on shares of Star Bulk Carriers in a research report on Friday, April 24th. They set a “buy” rating and a $29.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Friday, March 27th. Finally, Wall Street Zen raised shares of Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $30.50.

Institutional Investors Weigh In On Star Bulk Carriers

Institutional investors and hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. boosted its position in shares of Star Bulk Carriers by 44.6% during the third quarter. Alliancebernstein L.P. now owns 5,446,191 shares of the shipping company’s stock worth $101,245,000 after buying an additional 1,681,036 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Star Bulk Carriers during the third quarter worth approximately $73,967,000. Ameriprise Financial Inc. boosted its position in shares of Star Bulk Carriers by 33.2% during the third quarter. Ameriprise Financial Inc. now owns 2,166,892 shares of the shipping company’s stock worth $40,283,000 after buying an additional 539,567 shares during the period. Renaissance Technologies LLC boosted its position in shares of Star Bulk Carriers by 13.0% during the first quarter. Renaissance Technologies LLC now owns 2,067,637 shares of the shipping company’s stock worth $47,494,000 after buying an additional 237,248 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 worth $20,204,000 after buying an additional 485,436 shares during the period. Institutional investors and hedge funds own 33.91% of the company’s stock.

About Star Bulk Carriers

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.