Charis Plakantonaki Sells 10,825 Shares of Star Bulk Carriers (NASDAQ:SBLK) Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) insider Charis Plakantonaki sold 10,825 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $28.95, for a total value of $313,383.75. Following the completion of the transaction, the insider owned 66,603 shares of the company’s stock, valued at $1,928,156.85. The trade was a 13.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, August 17th, Charis Plakantonaki sold 10,825 shares of Star Bulk Carriers stock. The shares were sold at an average price of $29.82, for a total value of $322,801.50.

Star Bulk Carriers Trading Up 0.1%

Shares of SBLK stock opened at $30.17 on Thursday. Star Bulk Carriers Corp. has a twelve month low of $16.72 and a twelve month high of $30.90. The stock’s fifty day simple moving average is $27.02 and its 200 day simple moving average is $25.58. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.42 billion, a P/E ratio of 11.83 and a beta of 0.72.

Star Bulk Carriers (NASDAQ:SBLK) last posted its earnings results on Wednesday, August 5th. The shipping company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.95 by $0.26. Star Bulk Carriers had a return on equity of 11.72% and a net margin of 23.87%.The firm had revenue of $284.60 million during the quarter, compared to the consensus estimate of $284.29 million. As a group, sell-side analysts predict that Star Bulk Carriers Corp. will post 4.32 EPS for the current fiscal year.

Star Bulk Carriers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be issued a $0.90 dividend. 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 dividend on an annualized basis and a yield of 11.9%. Star Bulk Carriers’s dividend payout ratio (DPR) is 141.18%.

Institutional Investors Weigh In On Star Bulk Carriers

Several large investors have recently modified their holdings of the company. Triumph Capital Management bought a new position in Star Bulk Carriers during the third quarter worth $26,000. Rhumbline Advisers boosted its position in 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 stake in Star Bulk Carriers during the 3rd quarter worth about $33,000. Morse Asset Management Inc acquired a new stake in Star Bulk Carriers during the 3rd quarter worth about $37,000. Finally, Leonteq Securities AG bought a new position in shares of Star Bulk Carriers in the 4th quarter worth about $38,000. 33.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBLK has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $32.00 price target on shares of Star Bulk Carriers in a research report on Friday, May 22nd. Weiss Ratings raised shares of Star Bulk Carriers from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Zacks Research upgraded Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. Finally, Jefferies Financial Group raised their target price on Star Bulk Carriers from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, Star Bulk Carriers currently has an average rating of “Buy” and a consensus target price of $31.50.

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.