Star Bulk Carriers Corp. (NASDAQ:SBLK) Short Interest Down 18.2% in February

by · The Markets Daily

Star Bulk Carriers Corp. (NASDAQ:SBLKGet Free Report) was the target of a large decline in short interest in February. As of February 13th, there was short interest totaling 1,482,556 shares, a decline of 18.2% from the January 29th total of 1,812,219 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 1,018,213 shares, the short-interest ratio is currently 1.5 days. Based on an average daily volume of 1,018,213 shares, the short-interest ratio is currently 1.5 days. Currently, 1.3% of the company’s stock are short sold.

Star Bulk Carriers Stock Down 2.4%

Shares of SBLK traded down $0.64 during midday trading on Tuesday, hitting $26.25. 2,456,619 shares of the company’s stock traded hands, compared to its average volume of 1,567,313. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 35.96 and a beta of 0.73. Star Bulk Carriers has a 1 year low of $12.06 and a 1 year high of $27.20. The firm’s fifty day moving average is $22.16 and its 200-day moving average is $20.00.

Star Bulk Carriers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 9th will be issued a $0.37 dividend. This is a boost from Star Bulk Carriers’s previous quarterly dividend of $0.11. This represents a $1.48 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Monday, March 9th. Star Bulk Carriers’s dividend payout ratio is 60.27%.

Institutional Trading of Star Bulk Carriers

Several large investors have recently added to or reduced their stakes in the company. Fearnley Asset Management AS purchased a new stake in Star Bulk Carriers in the fourth quarter valued at approximately $11,096,000. XTX Topco Ltd purchased a new stake in Star Bulk Carriers in the 4th quarter worth $2,505,000. Voloridge Investment Management LLC acquired a new position in shares of Star Bulk Carriers during the 4th quarter worth about $3,808,000. Millennium Management LLC raised its holdings in shares of Star Bulk Carriers by 1,018.5% during the fourth quarter. Millennium Management LLC now owns 887,056 shares of the shipping company’s stock valued at $17,049,000 after acquiring an additional 807,751 shares during the last quarter. Finally, Manatuck Hill Partners LLC raised its stake in Star Bulk Carriers by 117.3% in the 4th quarter. Manatuck Hill Partners LLC now owns 203,800 shares of the shipping company’s stock valued at $3,917,000 after purchasing an additional 110,000 shares during the last quarter. Hedge funds and other institutional investors own 33.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SBLK. Jefferies Financial Group restated a “buy” rating and set a $22.00 price target on shares of Star Bulk Carriers in a research note on Wednesday, November 19th. Zacks Research cut shares of Star Bulk Carriers from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Star Bulk Carriers in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.00.

Read Our Latest Research Report on SBLK

Star Bulk Carriers Company Profile

(Get Free Report)

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.

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