Star Bulk Carriers (NASDAQ:SBLK) CFO Acquires 15,000 Shares of Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) CFO Symeon Spyrou acquired 15,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average cost of $28.27 per share, for a total transaction of $424,050.00. Following the acquisition, the chief financial officer owned 241,200 shares of the company’s stock, valued at $6,818,724. This represents a 6.63% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Star Bulk Carriers Stock Down 0.7%

Shares of Star Bulk Carriers stock traded down $0.23 during trading hours on Wednesday, hitting $30.98. The company had a trading volume of 1,063,858 shares, compared to its average volume of 1,427,213. The company’s 50-day moving average is $28.97 and its two-hundred day moving average is $26.54. Star Bulk Carriers Corp. has a twelve month low of $16.72 and a twelve month high of $32.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.74. The company has a market cap of $3.51 billion, a P/E ratio of 12.19 and a beta of 0.70.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.26. The firm had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $284.29 million. Star Bulk Carriers had a net margin of 23.87% and a return on equity of 11.72%. Analysts anticipate that Star Bulk Carriers Corp. will post 4.32 earnings per share for the current fiscal year.

Star Bulk Carriers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 11.6%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, August 21st. Star Bulk Carriers’s payout ratio is 141.18%.

Key Stories Impacting Star Bulk Carriers

Here are the key news stories impacting Star Bulk Carriers this week:

• Positive Sentiment: Insiders bought shares: CFO Symeon Spyrou purchased 15,000 shares for approximately $424,050, while directors Koert Erhardt and Nikolaos Karellis bought 6,000 and 2,000 shares, respectively. The purchases increase their ownership and may signal confidence in SBLK’s valuation and outlook. CFO insider purchase filing
• Positive Sentiment: Zacks upgraded SBLK’s standing: Star Bulk was added to the Zacks Rank #1, or “Strong Buy,” list and to its Strong Buy income-stock list. The ratings may support investor interest, particularly among dividend-focused investors. Zacks Strong Buy stocks
• Neutral Sentiment: Euronext Athens listing completed: SBLK listed its common shares on Euronext Athens and announced the opening price for all 116,071,386 outstanding shares. The listing could broaden access to Greek and European investors, although its immediate effect on fundamentals is limited. Euronext listing announcement
• Negative Sentiment: Public offering creates dilution concerns: Star Bulk raised approximately €107.8 million through a Greek public offering of new common shares. The additional liquidity may support corporate purposes, but issuing new shares can dilute existing shareholders and pressure the stock in the near term. Star Bulk Euronext Athens offering

Hedge Funds Weigh In On Star Bulk Carriers

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBLK. Impala Asset Management LLC boosted its holdings in shares of Star Bulk Carriers by 39.2% in the 4th quarter. Impala Asset Management LLC now owns 167,000 shares of the shipping company’s stock valued at $3,210,000 after buying an additional 47,000 shares during the period. Bank of America Corp DE raised its stake in Star Bulk Carriers by 48.5% during the first quarter. Bank of America Corp DE now owns 565,562 shares of the shipping company’s stock worth $12,991,000 after acquiring an additional 184,837 shares during the period. Hsbc Holdings PLC bought a new position in Star Bulk Carriers in the first quarter worth about $909,000. Counterpoint Mutual Funds LLC bought a new position in Star Bulk Carriers in the first quarter worth about $4,788,000. Finally, Fearnley Asset Management AS acquired a new position in Star Bulk Carriers in the fourth quarter valued at approximately $11,096,000. Institutional investors and hedge funds own 33.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SBLK. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $32.00 target price on shares of Star Bulk Carriers in a report on Friday, May 22nd. Jefferies Financial Group raised their price target on Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Zacks Research upgraded Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. Finally, Weiss Ratings raised Star Bulk Carriers from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $31.50.

Star Bulk Carriers Company Profile

Star Bulk Carriers Corp. is a global dry bulk shipping company that owns and operates vessels used to transport major and minor bulk commodities. Its fleet serves the international supply chains for iron ore, grain, bauxite, fertilizers, steel products and other dry cargoes.

The company operates a diversified fleet that includes large Capesize and Newcastlemax vessels as well as Panamax, Ultramax and Supramax bulk carriers. Star Bulk’s vessels serve customers and ports across major shipping routes worldwide, supporting commodity trade between producers, exporters and end markets.

Star Bulk Carriers was founded in 2006 and is headquartered in Maroussi, Greece, with the company incorporated in the Marshall Islands.