Short Interest in Star Bulk Carriers Corp. (NASDAQ:SBLK) Increases By 30.4%

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,733,952 shares, a growth of 30.4% from the December 15th total of 1,329,513 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily volume of 1,275,397 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily volume of 1,275,397 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

SBLK has been the topic of a number of analyst reports. Zacks Research raised shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 target price on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $22.00.

Star Bulk Carriers Price Performance

Shares of SBLK traded down $0.53 during trading hours on Friday, hitting $20.37. 2,364,538 shares of the company were exchanged, compared to its average volume of 1,185,965. The firm has a fifty day simple moving average of $19.42 and a 200-day simple moving average of $18.88. The company has a market capitalization of $2.40 billion, a PE ratio of 39.17 and a beta of 0.75. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56. Star Bulk Carriers has a one year low of $12.06 and a one year high of $21.44.

Star Bulk Carriers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Friday, December 5th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.2%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, December 5th. Star Bulk Carriers’s payout ratio is 84.62%.

Institutional Trading of Star Bulk Carriers

Institutional investors have recently made changes to their positions in the stock. Mirabella Financial Services LLP acquired a new position in Star Bulk Carriers in the 3rd quarter valued at approximately $73,967,000. Alliancebernstein L.P. purchased a new stake in shares of Star Bulk Carriers during the second quarter worth $64,949,000. Kingstone Capital Partners Texas LLC acquired a new stake in Star Bulk Carriers during the second quarter valued at $57,227,000. Ameriprise Financial Inc. grew its stake in Star Bulk Carriers by 33.2% in the third quarter. Ameriprise Financial Inc. now owns 2,166,892 shares of the shipping company’s stock valued at $40,283,000 after purchasing an additional 539,567 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Star Bulk Carriers by 59.7% in the 1st 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 purchasing an additional 485,436 shares during the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.

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.