Raffaele Zagari Buys 50,000 Shares of Star Bulk Carriers (NASDAQ:SBLK) Stock

Star Bulk Carriers Corp. (NASDAQ:SBLK) Director Raffaele Zagari acquired 50,000 shares of Star Bulk Carriers stock in a transaction on Tuesday, September 15th. The stock was purchased at an average price of $28.27 per share, with a total value of $1,413,500.00. Following the purchase, the director owned 1,953,000 shares of the company’s stock, valued at $55,211,310. The trade was a 2.63% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Raffaele Zagari also recently made the following trade(s):

• On Tuesday, September 15th, Raffaele Zagari acquired 10,000 shares of Star Bulk Carriers stock. The stock was purchased at an average cost of $28.27 per share, with a total value of $282,700.00.
• On Tuesday, August 25th, Raffaele Zagari sold 50,000 shares of Star Bulk Carriers stock. The stock was sold at an average price of $31.20, for a total transaction of $1,560,000.00.

Star Bulk Carriers Stock Performance

Shares of Star Bulk Carriers stock traded up $1.21 during trading on Thursday, reaching $32.08. The company’s stock had a trading volume of 542,192 shares, compared to its average volume of 1,429,803. The company has a 50-day moving average price of $29.05 and a two-hundred day moving average price of $26.58. Star Bulk Carriers Corp. has a fifty-two week low of $16.72 and a fifty-two week high of $32.88. The firm has a market cap of $3.64 billion, a PE ratio of 12.58 and a beta of 0.70. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32.

Star Bulk Carriers (NASDAQ:SBLK) last issued its quarterly earnings results on Wednesday, August 5th. The shipping company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.26. Star Bulk Carriers had a net margin of 23.87% and a return on equity of 11.72%. The firm had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $284.29 million. On average, analysts forecast that Star Bulk Carriers Corp. will post 4.32 EPS for the current year.

Star Bulk Carriers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 11.2%. This is a positive change from Star Bulk Carriers’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, August 21st. Star Bulk Carriers’s payout ratio is currently 141.18%.

Key Star Bulk Carriers News

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

• Positive Sentiment: Several insiders purchased a combined 110,400 SBLK shares for approximately $3.12 million at $28.27 per share. The purchases included 74,400 shares by Alexandros Pappas, 15,000 by CFO Symeon Spyrou, 10,000 by COO Nikolaos Rescos, and additional purchases by directors and other executives. The broad buying may signal that management views the stock as undervalued or expects continued business strength. Insider buying report
• Positive Sentiment: Zacks added Star Bulk Carriers to its Rank #1 “Strong Buy” list and its Strong Buy income-stock list. The endorsement may support buying interest from momentum and dividend-focused investors. Zacks Strong Buy report
• Neutral Sentiment: SBLK completed its listing on Euronext Athens and designated Greece as its home member state under Greek securities law. The listing could improve visibility and access to European investors, but it has limited immediate effect on earnings or cash flow. Euronext listing announcement
• Negative Sentiment: The Greek follow-on offering raised approximately €107.8 million. While the proceeds strengthen liquidity and may support fleet investments, issuing new shares increases the share count and can dilute existing shareholders, creating a near-term overhang. Greek offering results

Wall Street Analyst Weigh In

Several analysts have commented on SBLK shares. Jefferies Financial Group upped their price objective on Star Bulk Carriers from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $32.00 target price on shares of Star Bulk Carriers in a report on Friday, May 22nd. Zacks Research upgraded Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 14th. Finally, Weiss Ratings raised Star Bulk Carriers from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $31.50.

Hedge Funds Weigh In On Star Bulk Carriers

Large investors have recently modified their holdings of the business. Raiffeisen Bank International AG raised its position in Star Bulk Carriers by 26.3% in the second quarter. Raiffeisen Bank International AG now owns 66,429 shares of the shipping company’s stock worth $1,659,000 after acquiring an additional 13,851 shares in the last quarter. BTG Pactual Asset Management US LLC boosted its position in shares of Star Bulk Carriers by 3.9% during the 2nd quarter. BTG Pactual Asset Management US LLC now owns 53,570 shares of the shipping company’s stock worth $1,338,000 after purchasing an additional 1,986 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of Star Bulk Carriers by 0.8% during the 2nd quarter. Headlands Technologies LLC now owns 66,333 shares of the shipping company’s stock worth $1,656,000 after purchasing an additional 518 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Star Bulk Carriers during the 2nd quarter worth $1,371,000. Finally, Bank of America Corp DE grew its stake in shares of Star Bulk Carriers by 48.5% during the 1st quarter. Bank of America Corp DE now owns 565,562 shares of the shipping company’s stock worth $12,991,000 after purchasing an additional 184,837 shares during the period. 33.91% of the stock is owned by hedge funds and other institutional investors.

Star Bulk Carriers Company Profile

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.