Star Bulk Carriers Corp. (NASDAQ:SBLK) Short Interest Update

Star Bulk Carriers Corp. (NASDAQ:SBLK) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 1,733,952 shares, a growth of 30.4% from the December 15th total of 1,329,513 shares. Based on an average daily volume of 1,275,397 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.5% of the shares of the stock are sold short. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 1,275,397 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

SBLK has been the topic of several recent research reports. Zacks Research upgraded Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Monday, December 29th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Star Bulk Carriers has a consensus rating of “Buy” and an average price target of $22.00.

Hedge Funds Weigh In On Star Bulk Carriers

A number of institutional investors and hedge funds have recently modified their holdings of SBLK. BNP Paribas Financial Markets boosted its holdings in shares of Star Bulk Carriers by 4.7% in the second quarter. BNP Paribas Financial Markets now owns 13,695 shares of the shipping company’s stock valued at $236,000 after purchasing an additional 616 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Star Bulk Carriers by 20.9% in the third quarter. Public Employees Retirement System of Ohio now owns 4,114 shares of the shipping company’s stock valued at $76,000 after acquiring an additional 712 shares during the period. Jones Financial Companies Lllp grew its position in shares of Star Bulk Carriers by 50.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,381 shares of the shipping company’s stock valued at $46,000 after acquiring an additional 802 shares during the period. Vident Advisory LLC lifted its stake in Star Bulk Carriers by 5.6% in the 3rd quarter. Vident Advisory LLC now owns 16,902 shares of the shipping company’s stock valued at $314,000 after buying an additional 891 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Star Bulk Carriers by 141.7% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Star Bulk Carriers Stock Down 2.5%

NASDAQ SBLK opened at $20.37 on Tuesday. The stock’s 50-day moving average price is $19.45 and its 200-day moving average price is $18.90. The company has a market capitalization of $2.40 billion, a P/E ratio of 39.17 and a beta of 0.75. Star Bulk Carriers has a 52 week low of $12.06 and a 52 week high of $21.44. 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 company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Friday, December 5th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.2%. This is a positive change 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 presently 84.62%.

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.