Star Bulk Carriers (NASDAQ:SBLK) Director Nikolaos Karellis Sells 20,000 Shares of Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) Director Nikolaos Karellis sold 20,000 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $26.96, for a total value of $539,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Star Bulk Carriers Stock Performance

SBLK opened at $27.15 on Friday. The firm has a market cap of $3.08 billion, a P/E ratio of 21.72 and a beta of 0.72. Star Bulk Carriers Corp. has a 52-week low of $16.21 and a 52-week high of $28.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.73. The business’s fifty day moving average is $25.90 and its 200-day moving average is $23.16.

Star Bulk Carriers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 12th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.4%. 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. Star Bulk Carriers’s payout ratio is 118.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Friday, March 27th. Zacks Research raised Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group upped their price target on Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Wall Street Zen raised Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $32.00 target price on shares of Star Bulk Carriers in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $31.50.

Institutional Investors Weigh In On Star Bulk Carriers

Large investors have recently made changes to their positions in the business. USA Financial Formulas bought a new stake in shares of Star Bulk Carriers in the 4th quarter worth approximately $26,000. Triumph Capital Management purchased a new position in shares of Star Bulk Carriers in the 3rd quarter valued at approximately $26,000. Rhumbline Advisers lifted its stake in shares of Star Bulk Carriers by 141.7% in the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,022 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Star Bulk Carriers in the 3rd quarter valued at approximately $33,000. Finally, Morse Asset Management Inc purchased a new position in shares of Star Bulk Carriers in the 3rd quarter valued at approximately $37,000. 33.91% of the stock is currently owned by institutional investors.

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.