Star Bulk Carriers Corp. (NASDAQ:SBLK - Get Free Report) was the target of some unusual options trading on Wednesday. Stock traders purchased 6,785 call options on the company. This is an increase of approximately 242% compared to the typical daily volume of 1,982 call options.
Star Bulk Carriers Price Performance
NASDAQ SBLK traded up $0.10 on Friday, hitting $16.10. The stock had a trading volume of 2,549,903 shares, compared to its average volume of 1,617,906. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 5.44 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.69. The firm has a 50-day moving average of $15.17 and a 200-day moving average of $18.62. Star Bulk Carriers has a 52-week low of $14.30 and a 52-week high of $27.47.
Star Bulk Carriers Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Thursday, December 5th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $2.40 annualized dividend and a yield of 14.91%. Star Bulk Carriers's dividend payout ratio (DPR) is presently 81.08%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Praetorian PR LLC purchased a new position in Star Bulk Carriers during the 4th quarter valued at about $6,267,000. Ion Asset Management Ltd. increased its stake in shares of Star Bulk Carriers by 7.1% during the fourth quarter. Ion Asset Management Ltd. now owns 32,246 shares of the shipping company's stock valued at $482,000 after buying an additional 2,146 shares during the period. Northern Trust Corp raised its holdings in shares of Star Bulk Carriers by 21.1% during the fourth quarter. Northern Trust Corp now owns 93,352 shares of the shipping company's stock valued at $1,396,000 after acquiring an additional 16,287 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Star Bulk Carriers in the fourth quarter worth $1,175,000. Finally, Capital Analysts LLC boosted its holdings in Star Bulk Carriers by 215.9% in the fourth quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock valued at $34,000 after acquiring an additional 1,561 shares in the last quarter. Hedge funds and other institutional investors own 33.91% of the company's stock.
Analyst Upgrades and Downgrades
SBLK has been the subject of several research reports. StockNews.com downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. DNB Markets upgraded shares of Star Bulk Carriers from a "sell" rating to a "hold" rating and raised their target price for the company from $19.30 to $20.20 in a research report on Thursday, November 21st. Stifel Nicolaus downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating and cut their target price for the stock from $30.00 to $21.00 in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group restated a "buy" rating and set a $28.00 target price on shares of Star Bulk Carriers in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $23.80.
Read Our Latest Report on Star Bulk Carriers
About Star Bulk Carriers
(
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Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.
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