Star Bulk Carriers (NASDAQ:SBLK) COO Sells $144,950.00 in Stock

Key Points

• Star Bulk Carriers COO Nikolaos Reskos sold 5,000 shares at an average price of $28.99, generating $144,950. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 405,875 shares.
• The company raised its quarterly dividend to $0.50 per share, equivalent to $2.00 annually and a 7.0% yield, though its reported payout ratio stands at 160%.
• Star Bulk shares opened at $28.75, near their 52-week high of $29.34. Analysts maintain a “Moderate Buy” consensus with an average price target of $31.50.

Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) COO Nikolaos Reskos sold 5,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $28.99, for a total transaction of $144,950.00. Following the completion of the sale, the chief operating officer owned 405,875 shares in the company, valued at $11,766,316.25. The trade was a 1.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 stock was 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 transaction 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 transaction of $2,278.14.

Star Bulk Carriers Stock Performance

Shares of NASDAQ:SBLK opened at $28.75 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.73 and a quick ratio of 1.55. The business's 50 day moving average price is $26.59 and its 200-day moving average price is $24.89. The firm has a market capitalization of $3.26 billion, a PE ratio of 23.00 and a beta of 0.72. Star Bulk Carriers Corp. has a 1 year low of $16.72 and a 1 year high of $29.34.

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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.0%. This is a positive change from Star Bulk Carriers's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, June 12th. Star Bulk Carriers's payout ratio is 160.00%.

Institutional Investors Weigh In On Star Bulk Carriers

Institutional investors have recently modified their holdings of the company. Triumph Capital Management purchased a new stake in shares of Star Bulk Carriers in the 3rd quarter worth about $26,000. Rhumbline Advisers boosted its stake in shares of Star Bulk Carriers by 141.7% during the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company's stock valued at $32,000 after acquiring an additional 1,022 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Star Bulk Carriers in the 3rd quarter valued at about $33,000. Leonteq Securities AG acquired a new stake in shares of Star Bulk Carriers during the 4th quarter worth about $38,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Star Bulk Carriers during the third quarter worth about $37,000. Hedge funds and other institutional investors own 33.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. 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. Zacks Research cut shares of Star Bulk Carriers from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Star Bulk Carriers in a report on Wednesday, June 24th. 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 report on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $32.00 price objective on shares of Star Bulk Carriers in a research note on Friday, May 22nd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Star Bulk Carriers has an average rating of "Moderate Buy" and a consensus target price of $31.50.

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.

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