Star Bulk Carriers (NASDAQ:SBLK) COO Sells $142,450.00 in Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) COO Nikolaos Reskos sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $28.49, for a total transaction of $142,450.00. Following the completion of the transaction, the chief operating officer owned 362,775 shares in the company, valued at approximately $10,335,459.75. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nikolaos Reskos also recently made the following trade(s):

• 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 transaction 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 transaction of $263,216.70.
• On Monday, May 18th, Nikolaos Reskos sold 33,103 shares of Star Bulk Carriers stock. The stock was sold at an average price of $26.28, for a total transaction of $869,946.84.
• On Tuesday, May 19th, Nikolaos Reskos sold 86 shares of Star Bulk Carriers stock. The stock was sold at an average price of $26.49, for a total transaction of $2,278.14.
• On Wednesday, April 15th, Nikolaos Reskos sold 8,406 shares of Star Bulk Carriers stock. The shares were sold at an average price of $25.05, for a total transaction of $210,570.30.
• On Tuesday, April 14th, Nikolaos Reskos sold 1,594 shares of Star Bulk Carriers stock. The stock was sold at an average price of $25.00, for a total transaction of $39,850.00.

Star Bulk Carriers Stock Performance

NASDAQ SBLK opened at $27.32 on Friday. Star Bulk Carriers Corp. has a 52-week low of $16.21 and a 52-week high of $28.50. The company has a fifty day moving average of $25.48 and a 200-day moving average of $22.88. The company has a market capitalization of $3.10 billion, a P/E ratio of 21.86 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.73.

Star Bulk Carriers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 12th will be given a dividend of $0.50 per share. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, June 12th. This represents a $2.00 annualized dividend and a dividend yield of 7.3%. Star Bulk Carriers’s dividend payout ratio is currently 118.40%.

Hedge Funds Weigh In On Star Bulk Carriers

Several institutional investors and hedge funds have recently bought and sold shares of the stock. USA Financial Formulas bought a new stake in Star Bulk Carriers in the fourth quarter valued at approximately $26,000. Triumph Capital Management bought a new position in shares of Star Bulk Carriers in the third quarter worth approximately $26,000. Rhumbline Advisers increased its stake 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 buying an additional 1,022 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Star Bulk Carriers in the third quarter worth $33,000. Finally, Morse Asset Management Inc bought a new stake in Star Bulk Carriers during the 3rd quarter valued at $37,000. 33.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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