Star Bulk Carriers (NASDAQ:SBLK) COO Nikolaos Reskos Sells 30,000 Shares of Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) COO Nikolaos Reskos sold 30,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $27.29, for a total value of $818,700.00. Following the completion of the transaction, the chief operating officer directly owned 367,775 shares of the company’s stock, valued at approximately $10,036,579.75. This trade represents a 7.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $263,216.70.
• On Monday, May 18th, Nikolaos Reskos sold 33,103 shares of Star Bulk Carriers stock. The stock was 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 stock was sold at an average price of $26.49, for a total value of $2,278.14.
• On Wednesday, April 15th, Nikolaos Reskos sold 8,406 shares of Star Bulk Carriers stock. The stock was sold at an average price of $25.05, for a total value of $210,570.30.
• On Tuesday, April 14th, Nikolaos Reskos sold 1,594 shares of Star Bulk Carriers stock. The stock was sold at an average price of $25.00, for a total value of $39,850.00.

Star Bulk Carriers Stock Performance

NASDAQ SBLK opened at $26.40 on Friday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 21.12 and a beta of 0.71. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $24.53 and a 200-day moving average price of $22.27. Star Bulk Carriers Corp. has a twelve month low of $15.78 and a twelve month high of $28.28.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. Star Bulk Carriers had a return on equity of 6.82% and a net margin of 13.01%.The company had revenue of $230.79 million during the quarter, compared to analyst estimates of $250.51 million. As a group, equities research analysts predict that Star Bulk Carriers Corp. will post 3.85 EPS for the current fiscal year.

Star Bulk Carriers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 12th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 12th. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.37. This represents a $2.00 dividend on an annualized basis and a yield of 7.6%. Star Bulk Carriers’s dividend payout ratio is currently 160.00%.

Key Stories Impacting Star Bulk Carriers

Here are the key news stories impacting Star Bulk Carriers this week:

• Positive Sentiment: Star Bulk reported stronger-than-expected Q1 results, including earnings and revenue that beat analyst estimates, which supports the bullish case for the dry bulk shipping business. Article Title
• Positive Sentiment: The company declared a larger quarterly dividend of $0.50 per share, a 35.1% increase from the prior payout, signaling confidence in cash generation and shareholder returns. Article Title
• Positive Sentiment: Management outlined a plan to return 100% of free cash flow while maintaining a minimum $2.1 million per vessel cash balance, which may reassure investors about capital discipline and ongoing distributions. Article Title
• Neutral Sentiment: Several earnings-call transcripts and the Q1 presentation are circulating, keeping attention on operating trends, but they do not appear to add a new catalyst by themselves. Article Title
• Neutral Sentiment: COO Nikolaos Reskos disclosed several stock sales, including recent trades under a pre-arranged 10b5-1 plan; while notable, these sales are not necessarily a sign of worsening fundamentals. Article Title

Institutional Investors Weigh In On Star Bulk Carriers

Several hedge funds and other institutional investors have recently modified their holdings of SBLK. USA Financial Formulas purchased a new stake in shares of Star Bulk Carriers in the fourth quarter worth approximately $26,000. Triumph Capital Management purchased a new stake in shares of Star Bulk Carriers in the third quarter worth approximately $26,000. Rhumbline Advisers raised 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. purchased a new stake in shares of Star Bulk Carriers in the third quarter worth approximately $33,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Star Bulk Carriers in the third quarter worth approximately $37,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on SBLK shares. Zacks Research raised Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a research report on Friday, March 27th. Jefferies Financial Group began coverage on Star Bulk Carriers in a research report on Friday, April 24th. They set a “buy” rating and a $29.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $32.00 price objective on shares of Star Bulk Carriers in a research report on Friday. Finally, Wall Street Zen upgraded Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $30.50.

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.