Nikolaos Reskos Sells 5,000 Shares of Star Bulk Carriers (NASDAQ:SBLK) Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) COO Nikolaos Reskos sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $28.99, for a total transaction of $144,950.00. Following the transaction, the chief operating officer owned 405,875 shares in the company, valued at approximately $11,766,316.25. This trade represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Monday, June 1st, Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $28.49, for a total transaction of $142,450.00.
• 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 value of $818,700.00.
• On Wednesday, May 20th, Nikolaos Reskos sold 9,914 shares of Star Bulk Carriers stock. The stock was sold at an average price of $26.55, for a total value 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 value of $869,946.84.
• On Tuesday, May 19th, Nikolaos Reskos sold 86 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.49, for a total value of $2,278.14.

Star Bulk Carriers Stock Down 1.8%

Star Bulk Carriers stock opened at $28.22 on Wednesday. Star Bulk Carriers Corp. has a one year low of $16.72 and a one year high of $29.34. The stock has a fifty day moving average of $26.65 and a 200 day moving average of $25.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.73. The stock has a market cap of $3.20 billion, a PE ratio of 22.58 and a beta of 0.72.

Star Bulk Carriers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 12th were issued a dividend of $0.50 per share. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.37. This represents a $2.00 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Friday, June 12th. Star Bulk Carriers’s dividend payout ratio is currently 160.00%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Star Bulk Carriers

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Triumph Capital Management bought a new stake in Star Bulk Carriers during the 3rd quarter valued at $26,000. Rhumbline Advisers grew its position in shares of Star Bulk Carriers by 141.7% during the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock worth $32,000 after buying an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of Star Bulk Carriers during the 3rd quarter worth $33,000. Morse Asset Management Inc purchased a new position in shares of Star Bulk Carriers during the third quarter valued at $37,000. Finally, Leonteq Securities AG purchased a new position in shares of Star Bulk Carriers during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.

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.