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

Star Bulk Carriers Corp. (NASDAQ:SBLK) Director Nikolaos Karellis sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $26.96, for a total transaction of $539,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Star Bulk Carriers Stock Performance

SBLK opened at $27.15 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 21.72 and a beta of 0.72. The company’s 50 day moving average is $25.90 and its 200 day moving average is $23.16. Star Bulk Carriers Corp. has a 12-month low of $16.21 and a 12-month high of $28.50.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 12th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date is Friday, June 12th. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.37. Star Bulk Carriers’s dividend payout ratio (DPR) is 118.40%.

Institutional Investors Weigh In On Star Bulk Carriers

Institutional investors and hedge funds have recently modified their holdings of the stock. USA Financial Formulas bought a new stake in shares of Star Bulk Carriers during the fourth quarter valued at approximately $26,000. Triumph Capital Management bought a new stake in shares of Star Bulk Carriers during the third quarter valued at approximately $26,000. Rhumbline Advisers raised its position in shares of Star Bulk Carriers by 141.7% during the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,022 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Star Bulk Carriers during the third quarter valued at approximately $33,000. Finally, Leonteq Securities AG bought a new stake in shares of Star Bulk Carriers during the fourth quarter valued at approximately $38,000. Institutional investors own 33.91% of the company’s stock.

Analysts Set New Price Targets

SBLK has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group raised their target price on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $32.00 target price on shares of Star Bulk Carriers in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $31.50.

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.