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

Key Points

• Insider Charis Plakantonaki sold 10,825 Star Bulk Carriers shares for $322,801.50 at an average price of $29.82, reducing their position by 16.25% to 55,778 shares. The insider also sold 10,825 shares the previous week.
• Star Bulk Carriers reported quarterly EPS of $1.21, beating estimates of $0.95, on revenue of $284.60 million. The company raised its quarterly dividend to $0.90, implying an annualized yield of approximately 11.9%.
• Analysts maintain a positive outlook, with the stock carrying a consensus “Buy” rating and a $31.50 price target. Shares opened at $30.13, near the company’s 12-month high of $30.25.

Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) insider Charis Plakantonaki sold 10,825 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $29.82, for a total transaction of $322,801.50. Following the completion of the transaction, the insider directly owned 55,778 shares in the company, valued at approximately $1,663,299.96. The trade was a 16.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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 shares were sold at an average price of $28.95, for a total value of $313,383.75.

Star Bulk Carriers Stock Up 0.1%

Shares of NASDAQ SBLK opened at $30.13 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $26.95 and a 200-day moving average of $25.53. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 11.82 and a beta of 0.72. Star Bulk Carriers Corp. has a 12 month low of $16.72 and a 12 month high of $30.25.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The shipping company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.26. Star Bulk Carriers had a net margin of 23.87% and a return on equity of 11.72%. The business had revenue of $284.60 million for the quarter, compared to the consensus estimate of $284.29 million. Sell-side analysts expect that Star Bulk Carriers Corp. will post 4.32 earnings per share for the current fiscal year.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be paid a $0.90 dividend. This is a boost from Star Bulk Carriers's previous quarterly dividend of $0.50. This represents a $3.60 dividend on an annualized basis and a yield of 11.9%. The ex-dividend date of this dividend is Friday, August 21st. Star Bulk Carriers's payout ratio is currently 78.43%.

Analyst Upgrades and Downgrades

SBLK has been the subject of several research reports. Weiss Ratings raised Star Bulk Carriers from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $32.00 target price on shares of Star Bulk Carriers in a report on Friday, May 22nd. Jefferies Financial Group lifted their target price on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $31.50.

Institutional Trading of Star Bulk Carriers

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Triumph Capital Management bought a new position in shares of Star Bulk Carriers in the third quarter worth approximately $26,000. Rhumbline Advisers boosted its position in Star Bulk Carriers by 141.7% during 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. bought a new stake in Star Bulk Carriers in the 3rd quarter worth $33,000. Morse Asset Management Inc purchased a new position in shares of Star Bulk Carriers in the third quarter valued at about $37,000. Finally, Leonteq Securities AG bought a new position in shares of Star Bulk Carriers during the fourth quarter valued at about $38,000. 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.

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