Insider Selling: Star Bulk Carriers (NASDAQ:SBLK) Insider Sells $322,801.50 in Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) insider Charis Plakantonaki sold 10,825 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $29.82, for a total value of $322,801.50. Following the sale, the insider directly owned 55,778 shares of the company’s stock, valued at approximately $1,663,299.96. This represents a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Charis Plakantonaki also recently made the following trade(s):

• On Friday, August 14th, Charis Plakantonaki sold 10,825 shares of Star Bulk Carriers stock. The stock was sold at an average price of $28.95, for a total transaction of $313,383.75.

Star Bulk Carriers Trading Up 1.5%

NASDAQ:SBLK opened at $30.50 on Friday. The stock’s 50-day moving average is $27.15 and its two-hundred day moving average is $25.66. Star Bulk Carriers Corp. has a fifty-two week low of $16.72 and a fifty-two week high of $31.00. The stock has a market cap of $3.46 billion, a PE ratio of 11.96 and a beta of 0.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.74.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Wednesday, August 5th. The shipping company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.26. The firm had revenue of $284.60 million for the quarter, compared to the consensus estimate of $284.29 million. Star Bulk Carriers had a return on equity of 11.72% and a net margin of 23.87%. As a group, equities research analysts forecast that Star Bulk Carriers Corp. will post 4.32 earnings per share for the current fiscal year.

Star Bulk Carriers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be paid a $0.90 dividend. The ex-dividend date is Friday, August 21st. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.50. This represents a $3.60 annualized dividend and a dividend yield of 11.8%. Star Bulk Carriers’s dividend payout ratio is 78.43%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SBLK shares. Jefferies Financial Group upped their target price on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Zacks Research upgraded shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. Weiss Ratings upgraded shares of Star Bulk Carriers from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat.com, Star Bulk Carriers presently has a consensus rating of “Buy” and a consensus target price of $31.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Triumph Capital Management acquired a new stake in Star Bulk Carriers during the third quarter worth $26,000. Rhumbline Advisers increased its holdings in Star Bulk Carriers by 141.7% in the 3rd quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,022 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Star Bulk Carriers in the 3rd quarter valued at $33,000. Morse Asset Management Inc acquired a new position in shares of Star Bulk Carriers in the 3rd quarter valued at $37,000. Finally, Leonteq Securities AG bought a new position in shares of Star Bulk Carriers during the 4th quarter worth about $38,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

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.