Nikolaos Reskos Sells 5,000 Shares of Star Bulk Carriers (NASDAQ:SBLK) Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) COO Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.50, for a total value of $147,500.00. Following the completion of the sale, the chief operating officer directly owned 400,875 shares in the company, valued at $11,825,812.50. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nikolaos Reskos also recently made the following trade(s):

• On Thursday, July 30th, Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock. The shares were sold at an average price of $28.99, for a total transaction of $144,950.00.
• On Monday, June 1st, Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock. The stock was 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 shares were 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 transaction of $263,216.70.
• On Monday, May 18th, Nikolaos Reskos sold 33,103 shares of Star Bulk Carriers stock. The shares were sold at an average price of $26.28, for a total value 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 Price Performance

NASDAQ SBLK opened at $28.59 on Friday. The firm’s fifty day simple moving average is $26.69 and its two-hundred day simple moving average is $25.11. The firm has a market capitalization of $3.24 billion, a P/E ratio of 11.21 and a beta of 0.72. The company has a current ratio of 1.73, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. Star Bulk Carriers Corp. has a 12-month low of $16.72 and a 12-month high of $29.50.

Star Bulk Carriers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be given a dividend of $0.90 per share. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, August 21st. This represents a $3.60 annualized dividend and a dividend yield of 12.6%. Star Bulk Carriers’s payout ratio is currently 160.00%.

Analyst Ratings Changes

A number of analysts have issued reports on SBLK shares. Wall Street Zen raised Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Wednesday, June 24th. Zacks Research downgraded Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group boosted their price target on shares of Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $32.00 price objective on shares of Star Bulk Carriers in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Triumph Capital Management purchased a new position in Star Bulk Carriers in the third quarter valued at approximately $26,000. Rhumbline Advisers increased its position 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 worth $32,000 after purchasing an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Star Bulk Carriers in the 3rd quarter valued at about $33,000. Leonteq Securities AG acquired a new position in Star Bulk Carriers during the fourth quarter worth approximately $38,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Star Bulk Carriers in the third quarter valued at approximately $37,000. 33.91% of the stock is owned by institutional investors and hedge funds.

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.