Star Bulk Carriers (NASDAQ:SBLK) Shares Up 5.4% – Still a Buy?

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s share price rose 5.4% during mid-day trading on Monday . The company traded as high as $26.34 and last traded at $26.2360. 395,918 shares traded hands during trading, a decline of 72% from the average session volume of 1,390,845 shares. The stock had previously closed at $24.90.

Analysts Set New Price Targets

Several analysts recently weighed in on SBLK shares. Wall Street Zen raised shares of Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 18th. 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 report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $32.00 price target on shares of Star Bulk Carriers in a research note on Friday, May 22nd. Zacks Research downgraded Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Star Bulk Carriers presently has an average rating of “Moderate Buy” and an average price target of $31.50.

Star Bulk Carriers Stock Up 2.3%

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 firm’s 50-day moving average price is $26.39 and its 200 day moving average price is $24.44. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 21.34 and a beta of 0.72.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 12th were issued a $0.50 dividend. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, June 12th. This represents a $2.00 dividend on an annualized basis and a yield of 7.5%. Star Bulk Carriers’s payout ratio is currently 160.00%.

Insider Activity

In other Star Bulk Carriers news, Director Nikolaos Karellis sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $26.96, for a total transaction of $539,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Nikolaos Reskos sold 5,000 shares of Star Bulk Carriers stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $28.49, for a total transaction of $142,450.00. Following the sale, the chief operating officer owned 362,775 shares of the company’s stock, valued at approximately $10,335,459.75. This trade represents a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 98,103 shares of company stock worth $2,635,792 over the last ninety days.

Institutional Investors Weigh In On Star Bulk Carriers

Hedge funds have recently made changes to their positions in the business. USA Financial Formulas purchased a new stake in shares of Star Bulk Carriers in the fourth quarter valued at $26,000. Triumph Capital Management purchased a new position in Star Bulk Carriers during the third quarter worth about $26,000. Rhumbline Advisers boosted its stake in Star Bulk Carriers by 141.7% in the 3rd 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 last quarter. Sunbelt Securities Inc. acquired a new stake in Star Bulk Carriers in the 3rd quarter worth about $33,000. Finally, Leonteq Securities AG purchased a new stake in Star Bulk Carriers in the 4th quarter valued at about $38,000. Institutional investors and hedge funds 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.