Star Bulk Carriers (NASDAQ:SBLK) COO Nikolaos Reskos Sells 5,000 Shares

Star Bulk Carriers Corp. (NASDAQ:SBLK) COO Nikolaos Reskos sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $28.99, for a total value of $144,950.00. Following the completion of the sale, the chief operating officer directly owned 405,875 shares in the company, valued at approximately $11,766,316.25. The trade was a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Monday, June 1st, Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock. The stock was sold at an average price of $28.49, for a total value of $142,450.00.
• On Thursday, May 21st, Nikolaos Reskos sold 30,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $27.29, for a total value of $818,700.00.
• On Wednesday, May 20th, Nikolaos Reskos sold 9,914 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.55, for a total value of $263,216.70.
• On Monday, May 18th, Nikolaos Reskos sold 33,103 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.28, for a total value 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 value of $2,278.14.

Star Bulk Carriers Price Performance

SBLK opened at $28.73 on Tuesday. The stock’s 50-day moving average price is $26.64 and its 200 day moving average price is $24.95. Star Bulk Carriers Corp. has a 12-month low of $16.72 and a 12-month high of $29.34. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 22.98 and a beta of 0.72. The company has a current ratio of 1.73, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32.

Star Bulk Carriers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 12th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.0%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, June 12th. Star Bulk Carriers’s payout ratio is currently 160.00%.

Hedge Funds Weigh In On Star Bulk Carriers

Several large investors have recently bought and sold shares of the business. Alliancebernstein L.P. acquired a new position in Star Bulk Carriers in the second quarter valued at approximately $64,949,000. Cooper Creek Partners Management LLC acquired a new stake in Star Bulk Carriers during the first quarter worth approximately $19,893,000. Millennium Management LLC lifted its position in shares of 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 last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Star Bulk Carriers during the 1st quarter worth approximately $17,398,000. Finally, Boston Partners boosted its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SBLK shares. 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. Wall Street Zen upgraded shares of Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 18th. Jefferies Financial Group raised their price target on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Zacks Research downgraded shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.50.

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.