Koert Erhardt Acquires 6,000 Shares of Star Bulk Carriers (NASDAQ:SBLK) Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) Director Koert Erhardt purchased 6,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $28.27 per share, with a total value of $169,620.00. Following the completion of the transaction, the director owned 16,080 shares in the company, valued at approximately $454,581.60. This trade represents a 59.52% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Star Bulk Carriers Trading Down 0.7%

Shares of NASDAQ:SBLK traded down $0.23 during mid-day trading on Wednesday, reaching $30.98. 1,063,858 shares of the company’s stock were exchanged, compared to its average volume of 1,427,213. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 12.15 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 1.91. Star Bulk Carriers Corp. has a twelve month low of $16.72 and a twelve month high of $32.88. The business’s fifty day moving average price is $28.97 and its 200-day moving average price is $26.54.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $284.29 million. On average, research analysts predict that Star Bulk Carriers Corp. will post 4.32 EPS for the current fiscal year.

Star Bulk Carriers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $3.60 dividend on an annualized basis and a yield of 11.6%. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.50. Star Bulk Carriers’s payout ratio is currently 141.18%.

Hedge Funds Weigh In On Star Bulk Carriers

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cooper Creek Partners Management LLC bought a new position in Star Bulk Carriers during the first quarter valued at about $19,893,000. Arrowstreet Capital Limited Partnership bought a new stake in Star Bulk Carriers in the first quarter worth about $17,398,000. Fearnley Asset Management AS purchased a new position in Star Bulk Carriers in the fourth quarter valued at about $11,096,000. Renaissance Technologies LLC boosted its stake in Star Bulk Carriers by 13.0% in the first quarter. Renaissance Technologies LLC now owns 2,067,637 shares of the shipping company’s stock valued at $47,494,000 after acquiring an additional 237,248 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Star Bulk Carriers during the 1st quarter valued at approximately $4,788,000. Institutional investors own 33.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SBLK. Weiss Ratings upgraded shares of Star Bulk Carriers from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 27th. Jefferies Financial Group lifted their target price 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $32.00 target price on shares of Star Bulk Carriers in a report on Friday, May 22nd. Finally, Zacks Research raised shares of Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $31.50.

Key Headlines Impacting Star Bulk Carriers

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

• Positive Sentiment: Insiders bought shares: CFO Symeon Spyrou purchased 15,000 shares for approximately $424,050, while directors Koert Erhardt and Nikolaos Karellis bought 6,000 and 2,000 shares, respectively. The purchases increase their ownership and may signal confidence in SBLK’s valuation and outlook. CFO insider purchase filing
• Positive Sentiment: Zacks upgraded SBLK’s standing: Star Bulk was added to the Zacks Rank #1, or “Strong Buy,” list and to its Strong Buy income-stock list. The ratings may support investor interest, particularly among dividend-focused investors. Zacks Strong Buy stocks
• Neutral Sentiment: Euronext Athens listing completed: SBLK listed its common shares on Euronext Athens and announced the opening price for all 116,071,386 outstanding shares. The listing could broaden access to Greek and European investors, although its immediate effect on fundamentals is limited. Euronext listing announcement
• Negative Sentiment: Public offering creates dilution concerns: Star Bulk raised approximately €107.8 million through a Greek public offering of new common shares. The additional liquidity may support corporate purposes, but issuing new shares can dilute existing shareholders and pressure the stock in the near term. Star Bulk Euronext Athens offering

About Star Bulk Carriers

Star Bulk Carriers Corp. is a global dry bulk shipping company that owns and operates vessels used to transport major and minor bulk commodities. Its fleet serves the international supply chains for iron ore, grain, bauxite, fertilizers, steel products and other dry cargoes.

The company operates a diversified fleet that includes large Capesize and Newcastlemax vessels as well as Panamax, Ultramax and Supramax bulk carriers. Star Bulk’s vessels serve customers and ports across major shipping routes worldwide, supporting commodity trade between producers, exporters and end markets.

Star Bulk Carriers was founded in 2006 and is headquartered in Maroussi, Greece, with the company incorporated in the Marshall Islands.