Star Bulk Carriers (NASDAQ:SBLK) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.19 and traded as high as $24.11. Star Bulk Carriers shares last traded at $23.81, with a volume of 2,096,568 shares traded.

Wall Street Analyst Weigh In

SBLK has been the topic of several research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Star Bulk Carriers in a research report on Wednesday, November 19th. Zacks Research downgraded Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Weiss Ratings restated 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 Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.00.

Star Bulk Carriers Stock Down 5.0%

The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 30.34 and a beta of 0.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 1.72. The business’s 50 day moving average is $22.80 and its 200-day moving average is $20.22.

Star Bulk Carriers (NASDAQ:SBLK) last released its earnings results on Wednesday, February 25th. The shipping company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. Star Bulk Carriers had a net margin of 8.07% and a return on equity of 3.90%. The firm had revenue of $230.79 million during the quarter, compared to analyst estimates of $250.51 million. Equities analysts anticipate that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.

Star Bulk Carriers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be given a $0.37 dividend. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.11. This represents a $1.48 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Monday, March 9th. Star Bulk Carriers’s dividend payout ratio (DPR) is currently 202.74%.

Hedge Funds Weigh In On Star Bulk Carriers

Large investors have recently bought and sold shares of the stock. Allianz Asset Management GmbH increased its holdings in shares of Star Bulk Carriers by 34.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 652,982 shares of the shipping company’s stock worth $12,139,000 after purchasing an additional 168,491 shares during the period. Boston Partners grew its position in Star Bulk Carriers by 36.5% during the second quarter. Boston Partners now owns 171,186 shares of the shipping company’s stock worth $2,953,000 after buying an additional 45,818 shares in the last quarter. DNB Asset Management AS increased its stake in Star Bulk Carriers by 1.9% during the second quarter. DNB Asset Management AS now owns 813,351 shares of the shipping company’s stock valued at $14,030,000 after acquiring an additional 14,792 shares during the period. Financial Gravity Companies Inc. bought a new position in Star Bulk Carriers during the second quarter valued at about $139,000. Finally, Raiffeisen Bank International AG raised its holdings in Star Bulk Carriers by 14.1% in the 2nd quarter. Raiffeisen Bank International AG now owns 64,119 shares of the shipping company’s stock valued at $1,096,000 after acquiring an additional 7,918 shares in 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.