Star Bulk Carriers Corp. (NASDAQ:SBLK) Sees Large Growth in Short Interest

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 1,329,513 shares, a growth of 69.8% from the November 30th total of 782,823 shares. Based on an average daily volume of 1,440,249 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.1% of the company’s shares are sold short. Currently, 1.1% of the company’s shares are sold short. Based on an average daily volume of 1,440,249 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group restated a “buy” rating and set a $22.00 price objective on shares of Star Bulk Carriers in a report on Wednesday, November 19th. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.00.

Star Bulk Carriers Trading Up 2.5%

NASDAQ:SBLK opened at $19.43 on Friday. The stock has a market cap of $2.29 billion, a PE ratio of 37.37 and a beta of 0.75. Star Bulk Carriers has a fifty-two week low of $12.06 and a fifty-two week high of $20.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.56. The stock’s 50-day moving average is $18.86 and its two-hundred day moving average is $18.57.

Star Bulk Carriers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Friday, December 5th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, December 5th. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.05. This represents a $0.44 dividend on an annualized basis and a yield of 2.3%. Star Bulk Carriers’s payout ratio is presently 84.62%.

Institutional Investors Weigh In On Star Bulk Carriers

Several institutional investors have recently made changes to their positions in SBLK. BNP Paribas Financial Markets raised its position in Star Bulk Carriers by 4.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 13,695 shares of the shipping company’s stock worth $236,000 after purchasing an additional 616 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Star Bulk Carriers by 20.9% during the third quarter. Public Employees Retirement System of Ohio now owns 4,114 shares of the shipping company’s stock worth $76,000 after acquiring an additional 712 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Star Bulk Carriers by 50.8% in the third quarter. Jones Financial Companies Lllp now owns 2,381 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 802 shares in the last quarter. Vident Advisory LLC lifted its stake in Star Bulk Carriers by 5.6% in the 3rd quarter. Vident Advisory LLC now owns 16,902 shares of the shipping company’s stock valued at $314,000 after acquiring an additional 891 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Star Bulk Carriers by 141.7% in the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,022 shares in the last quarter. 33.91% of the stock is currently owned by institutional investors and hedge funds.

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.