Star Bulk Carriers (NASDAQ:SBLK) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.49 and traded as high as $23.86. Star Bulk Carriers shares last traded at $23.80, with a volume of 602,484 shares changing hands.

Analyst Ratings Changes

SBLK has been the topic of several analyst reports. Zacks Research cut shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Monday, December 29th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $22.00 price target on shares of Star Bulk Carriers in a report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Star Bulk Carriers presently has an average rating of “Hold” and an average target price of $22.00.

Star Bulk Carriers Stock Up 2.5%

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 1.72. The company’s 50-day moving average price is $20.67 and its 200 day moving average price is $19.49. The stock has a market capitalization of $2.80 billion, a P/E ratio of 45.77 and a beta of 0.79.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Friday, December 5th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.8%. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, December 5th. Star Bulk Carriers’s payout ratio is presently 84.62%.

Institutional Trading of Star Bulk Carriers

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Star Bulk Carriers by 94.3% during the 1st quarter. Royal Bank of Canada now owns 117,275 shares of the shipping company’s stock valued at $1,825,000 after acquiring an additional 56,930 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Star Bulk Carriers by 59.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,298,436 shares of the shipping company’s stock valued at $20,204,000 after purchasing an additional 485,436 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Star Bulk Carriers by 54.3% during the second quarter. Allianz Asset Management GmbH now owns 484,491 shares of the shipping company’s stock valued at $8,357,000 after purchasing an additional 170,502 shares during the last quarter. MQS Management LLC purchased a new position in shares of Star Bulk Carriers in the 2nd quarter worth $535,000. Finally, Rossby Financial LCC grew its stake in shares of Star Bulk Carriers by 20.0% in the 2nd quarter. Rossby Financial LCC now owns 15,000 shares of the shipping company’s stock worth $259,000 after buying an additional 2,500 shares in the last quarter. Institutional investors own 33.91% of the company’s stock.

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.