Insider Selling: Star Bulk Carriers (NASDAQ:SBLK) COO Sells 5,000 Shares of Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) COO Nikolaos Reskos sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $28.49, for a total transaction of $142,450.00. Following the transaction, the chief operating officer directly owned 362,775 shares in the company, valued at $10,335,459.75. This trade represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 transaction of $818,700.00.
• On Wednesday, May 20th, Nikolaos Reskos sold 9,914 shares of Star Bulk Carriers stock. The stock was sold at an average price of $26.55, for a total transaction of $263,216.70.
• 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 transaction 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 transaction 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 transaction 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 transaction of $39,850.00.

Star Bulk Carriers Stock Down 2.9%

Shares of NASDAQ SBLK opened at $27.40 on Wednesday. The firm’s 50-day simple moving average is $25.13 and its 200 day simple moving average is $22.68. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 21.92 and a beta of 0.72. The company has a quick ratio of 1.55, a current ratio of 1.73 and a debt-to-equity ratio of 0.32. Star Bulk Carriers Corp. has a 12-month low of $15.84 and a 12-month high of $28.50.

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 paid a $0.50 dividend. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, June 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.3%. Star Bulk Carriers’s dividend payout ratio (DPR) is currently 118.40%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SBLK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $32.00 target price on shares of Star Bulk Carriers in a research note on Friday, May 22nd. Wall Street Zen raised Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 18th. Zacks Research upgraded Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group increased their price target on Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.50.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SBLK. USA Financial Formulas bought a new position in Star Bulk Carriers during the 4th quarter worth $26,000. Triumph Capital Management bought a new position in Star Bulk Carriers during the 3rd quarter worth $26,000. Rhumbline Advisers increased its position in Star Bulk Carriers by 141.7% during 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 position in Star Bulk Carriers during the 3rd quarter worth $33,000. Finally, Morse Asset Management Inc bought a new position in Star Bulk Carriers during the 3rd quarter worth $37,000. 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.