Manatuck Hill Partners LLC Acquires 110,000 Shares of Star Bulk Carriers Corp. $SBLK

Manatuck Hill Partners LLC raised its position in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 117.3% during the 4th quarter, HoldingsChannel reports. The fund owned 203,800 shares of the shipping company’s stock after buying an additional 110,000 shares during the quarter. Star Bulk Carriers comprises about 1.4% of Manatuck Hill Partners LLC’s portfolio, making the stock its 28th largest holding. Manatuck Hill Partners LLC’s holdings in Star Bulk Carriers were worth $3,917,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. ION Fund Management Ltd bought a new stake in Star Bulk Carriers in the 4th quarter valued at approximately $582,000. FIL Ltd bought a new stake in Star Bulk Carriers in the 4th quarter valued at approximately $6,632,000. Jump Financial LLC bought a new stake in Star Bulk Carriers in the 4th quarter valued at approximately $9,151,000. Public Employees Retirement System of Ohio lifted its stake in Star Bulk Carriers by 10.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,536 shares of the shipping company’s stock valued at $87,000 after acquiring an additional 422 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Star Bulk Carriers by 42.3% in the 4th quarter. Russell Investments Group Ltd. now owns 258,573 shares of the shipping company’s stock valued at $4,970,000 after acquiring an additional 76,818 shares in the last quarter. Institutional investors own 33.91% of the company’s stock.

Insider Buying and Selling

In other news, 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 sale, the chief operating officer owned 362,775 shares in the company, valued at $10,335,459.75. This represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nikolaos Karellis sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $26.96, for a total value of $539,200.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 108,103 shares of company stock worth $2,886,212. Company insiders own 0.90% of the company’s stock.

Star Bulk Carriers Trading Up 0.5%

Shares of Star Bulk Carriers stock opened at $26.75 on Thursday. Star Bulk Carriers Corp. has a 12-month low of $16.21 and a 12-month high of $28.50. The stock has a market cap of $3.03 billion, a P/E ratio of 21.40 and a beta of 0.72. The company has a quick ratio of 1.55, a current ratio of 1.73 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $26.05 and its 200-day moving average is $23.33.

Star Bulk Carriers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 12th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, June 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.5%. This is an increase from Star Bulk Carriers’s previous quarterly dividend of $0.37. Star Bulk Carriers’s dividend payout ratio (DPR) is currently 160.00%.

Analyst Ratings Changes

Several research firms have commented on SBLK. Wall Street Zen upgraded Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Jefferies Financial Group boosted their target price on Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $32.00 price objective on shares of Star Bulk Carriers in a report on Friday, May 22nd. Zacks Research raised Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Star Bulk Carriers has an average rating of “Buy” and a consensus target price of $31.50.

Star Bulk Carriers 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.