Star Bulk Carriers Target of Unusually High Options Trading (NASDAQ:SBLK)

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Star Bulk Carriers Corp. (NASDAQ:SBLKGet Rating) saw some unusual options trading on Tuesday. Investors purchased 7,656 put options on the stock. This is an increase of 22% compared to the average volume of 6,270 put options.

Wall Street Analysts Forecast Growth

SBLK has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Star Bulk Carriers in a research report on Wednesday, July 20th. They set a “buy” rating and a $30.00 target price on the stock. StockNews.com lowered Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Stifel Nicolaus reduced their target price on Star Bulk Carriers from $37.00 to $32.00 in a research report on Tuesday, July 19th.

Star Bulk Carriers Stock Down 3.7 %

Shares of SBLK stock opened at $19.15 on Wednesday. The stock’s 50-day simple moving average is $24.47 and its 200-day simple moving average is $27.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.75 and a current ratio of 2.07. The firm has a market capitalization of $1.96 billion, a PE ratio of 2.23 and a beta of 1.00. Star Bulk Carriers has a fifty-two week low of $17.80 and a fifty-two week high of $33.99.

Star Bulk Carriers (NASDAQ:SBLKGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The shipping company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.25. Star Bulk Carriers had a return on equity of 43.53% and a net margin of 52.61%. During the same period last year, the firm earned $1.26 EPS. Equities analysts expect that Star Bulk Carriers will post 6.54 earnings per share for the current year.

Star Bulk Carriers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 25th will be issued a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend yield of 34.46%. The ex-dividend date is Wednesday, August 24th. Star Bulk Carriers’s dividend payout ratio is presently 75.86%.

Institutional Trading of Star Bulk Carriers

A number of hedge funds have recently modified their holdings of the stock. Legal & General Group Plc boosted its stake in shares of Star Bulk Carriers by 23.3% in the second quarter. Legal & General Group Plc now owns 26,780 shares of the shipping company’s stock worth $669,000 after buying an additional 5,056 shares during the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Star Bulk Carriers in the second quarter worth about $140,000. Ibex Wealth Advisors purchased a new stake in shares of Star Bulk Carriers in the second quarter worth about $2,489,000. Occudo Quantitative Strategies LP boosted its stake in shares of Star Bulk Carriers by 133.0% in the second quarter. Occudo Quantitative Strategies LP now owns 110,937 shares of the shipping company’s stock worth $2,772,000 after buying an additional 63,315 shares during the last quarter. Finally, PDT Partners LLC boosted its stake in shares of Star Bulk Carriers by 71.0% in the second quarter. PDT Partners LLC now owns 196,968 shares of the shipping company’s stock worth $4,922,000 after buying an additional 81,811 shares during the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.

About Star Bulk Carriers

(Get Rating)

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company’s vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels.

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