Star Bulk Carriers (NASDAQ:SBLK) Trading Down 5% – What’s Next?

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s share price fell 5% on Friday . The company traded as low as $19.81 and last traded at $19.7080. 531,159 shares changed hands during trading, a decline of 53% from the average session volume of 1,141,094 shares. The stock had previously closed at $20.75.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Zacks Research raised Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $22.00.

Star Bulk Carriers Price Performance

The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 37.74 and a beta of 0.75. The business has a 50-day moving average price of $19.20 and a two-hundred day moving average price of $18.73. The company has a quick ratio of 1.56, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Star Bulk Carriers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Friday, December 5th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.2%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, December 5th. Star Bulk Carriers’s payout ratio is currently 84.62%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SBLK. Triumph Capital Management bought a new position in Star Bulk Carriers during the third quarter valued at approximately $26,000. Rhumbline Advisers increased its holdings in shares of Star Bulk Carriers by 141.7% in the third quarter. Rhumbline Advisers now owns 1,743 shares of the shipping company’s stock worth $32,000 after buying an additional 1,022 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at about $33,000. Morse Asset Management Inc purchased a new stake in Star Bulk Carriers during the 3rd quarter valued at about $37,000. Finally, Tower Research Capital LLC TRC lifted its position in Star Bulk Carriers by 135.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,420 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 1,391 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

About Star Bulk Carriers

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.