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

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the recipient of a significant drop in short interest in February. As of February 13th, there was short interest totaling 1,482,556 shares, a drop of 18.2% from the January 29th total of 1,812,219 shares. Based on an average daily trading volume, of 1,018,213 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.3% of the company’s shares are short sold. Approximately 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,018,213 shares, the days-to-cover ratio is presently 1.5 days.

Hedge Funds Weigh In On Star Bulk Carriers

Hedge funds have recently bought and sold shares of the company. USA Financial Formulas acquired a new position in Star Bulk Carriers in the 4th quarter valued at about $26,000. Triumph Capital Management purchased a new position in shares of Star Bulk Carriers in the third quarter valued at approximately $26,000. Rhumbline Advisers boosted its stake in shares of Star Bulk Carriers by 141.7% in the third 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. acquired a new position in shares of Star Bulk Carriers in the third quarter valued at approximately $33,000. Finally, Leonteq Securities AG purchased a new stake in Star Bulk Carriers during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 33.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Zacks Research cut Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Monday, December 29th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.00.

Star Bulk Carriers Trading Down 2.4%

NASDAQ SBLK opened at $25.63 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56. The stock has a market capitalization of $3.01 billion, a P/E ratio of 35.11 and a beta of 0.73. The firm’s 50-day moving average is $22.29 and its two-hundred day moving average is $20.03. Star Bulk Carriers has a 12 month low of $12.06 and a 12 month high of $27.20.

Star Bulk Carriers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 9th. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.11. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.8%. Star Bulk Carriers’s payout ratio is presently 202.74%.

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.