Star Bulk Carriers Corp. $SBLK Shares Sold by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC cut its stake in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 48.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 64,390 shares of the shipping company’s stock after selling 60,987 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Star Bulk Carriers were worth $1,479,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SBLK. Mirabella Financial Services LLP acquired a new stake in Star Bulk Carriers in the third quarter valued at approximately $73,967,000. Alliancebernstein L.P. acquired a new position in Star Bulk Carriers during the 2nd quarter worth approximately $64,949,000. Millennium Management LLC grew its holdings in 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 acquiring an additional 807,751 shares in the last quarter. Boston Partners increased its position 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 purchasing an additional 682,406 shares during the last quarter. Finally, Fearnley Asset Management AS acquired a new stake in shares of Star Bulk Carriers in the 4th quarter valued at $11,096,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SBLK shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $32.00 price objective on shares of Star Bulk Carriers in a research report on Friday, May 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Wednesday, June 24th. Wall Street Zen raised Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 18th. Zacks Research cut Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Jefferies Financial Group increased their price objective on Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Insider Buying and Selling at Star Bulk Carriers

In other Star Bulk Carriers news, Director Nikolaos Karellis sold 20,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $26.96, for a total value of $539,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Nikolaos Reskos sold 33,103 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $26.28, for a total value of $869,946.84. Following the transaction, the chief operating officer directly owned 407,775 shares in the company, valued at approximately $10,716,327. The trade was a 7.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 108,103 shares of company stock valued at $2,886,212 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Star Bulk Carriers Stock Up 1.8%

Shares of Star Bulk Carriers stock traded up $0.47 during trading hours on Friday, hitting $26.35. The company had a trading volume of 919,152 shares, compared to its average volume of 1,190,293. The company’s 50-day moving average is $26.45 and its two-hundred day moving average is $24.06. Star Bulk Carriers Corp. has a twelve month low of $16.72 and a twelve month high of $28.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.73 and a quick ratio of 1.55. The company has a market cap of $2.99 billion, a P/E ratio of 21.08 and a beta of 0.72.

Star Bulk Carriers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 12th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.6%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, June 12th. Star Bulk Carriers’s dividend payout ratio is presently 160.00%.

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.