Insider Selling: Star Bulk Carriers (NASDAQ:SBLK) COO Sells $147,500.00 in Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) COO Nikolaos Reskos sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.50, for a total value of $147,500.00. Following the completion of the sale, the chief operating officer directly owned 400,875 shares in the company, valued at approximately $11,825,812.50. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 Thursday, July 30th, Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $28.99, for a total transaction of $144,950.00.
• On Monday, June 1st, Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $28.49, for a total transaction of $142,450.00.
• 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 shares were sold at an average price of $26.49, for a total transaction of $2,278.14.

Star Bulk Carriers Stock Performance

Shares of SBLK stock opened at $28.90 on Monday. Star Bulk Carriers Corp. has a one year low of $16.72 and a one year high of $29.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.91. The company has a 50 day moving average price of $26.73 and a 200 day moving average price of $25.17. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 11.33 and a beta of 0.72.

Star Bulk Carriers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date is Friday, August 21st. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.50. Star Bulk Carriers’s payout ratio is currently 78.43%.

Wall Street Analyst Weigh In

SBLK has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $32.00 price objective on shares of Star Bulk Carriers in a report on Friday, May 22nd. Jefferies Financial Group lifted their price objective 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. Zacks Research cut Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. 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. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Star Bulk Carriers currently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Institutional Investors Weigh In On Star Bulk Carriers

Institutional investors and hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. acquired a new position in shares of Star Bulk Carriers during the second quarter worth $64,949,000. Cooper Creek Partners Management LLC acquired a new stake in Star Bulk Carriers during the 1st quarter valued at $19,893,000. Millennium Management LLC increased its stake in Star Bulk Carriers by 1,018.5% during the 4th quarter. Millennium Management LLC now owns 887,056 shares of the shipping company’s stock worth $17,049,000 after buying an additional 807,751 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Star Bulk Carriers in the 1st quarter worth $17,398,000. Finally, Boston Partners boosted its position in Star Bulk Carriers by 424.7% in the 4th quarter. Boston Partners now owns 843,098 shares of the shipping company’s stock valued at $16,205,000 after buying an additional 682,406 shares during the last quarter. Hedge funds and other 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.