Stock Traders Buy High Volume of Star Bulk Carriers Call Options (NASDAQ:SBLK)

Star Bulk Carriers Corp. (NASDAQ:SBLKGet Rating) was the target of some unusual options trading on Wednesday. Stock investors purchased 8,794 call options on the stock. This is an increase of approximately 22% compared to the average volume of 7,204 call options.

Star Bulk Carriers Trading Down 1.1 %

Star Bulk Carriers stock opened at $20.90 on Thursday. The stock has a market cap of $2.14 billion, a P/E ratio of 2.40 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.75 and a current ratio of 2.07. Star Bulk Carriers has a fifty-two week low of $17.80 and a fifty-two week high of $33.99. The firm’s fifty day moving average price is $23.67 and its 200-day moving average price is $27.00.

Star Bulk Carriers (NASDAQ:SBLKGet Rating) last posted its earnings results on Thursday, August 4th. The shipping company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.25. Star Bulk Carriers had a net margin of 52.61% and a return on equity of 43.53%. During the same quarter last year, the company earned $1.26 earnings per share. Equities research analysts forecast that Star Bulk Carriers will post 6.57 earnings per share for the current fiscal year.

Star Bulk Carriers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 25th were paid a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a dividend yield of 31.58%. The ex-dividend date was Wednesday, August 24th. Star Bulk Carriers’s dividend payout ratio (DPR) is 75.86%.

Institutional Trading of Star Bulk Carriers

A number of institutional investors and hedge funds have recently bought and sold shares of SBLK. Envestnet Asset Management Inc. boosted its position in Star Bulk Carriers by 43.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 13,358 shares of the shipping company’s stock valued at $303,000 after buying an additional 4,032 shares during the period. Raymond James & Associates lifted its stake in shares of Star Bulk Carriers by 4.1% in the fourth quarter. Raymond James & Associates now owns 36,099 shares of the shipping company’s stock worth $818,000 after buying an additional 1,421 shares in the last quarter. Baird Financial Group Inc. purchased a new position in shares of Star Bulk Carriers in the fourth quarter worth about $343,000. Qube Research & Technologies Ltd increased its position in Star Bulk Carriers by 66.8% during the fourth quarter. Qube Research & Technologies Ltd now owns 44,706 shares of the shipping company’s stock worth $1,013,000 after purchasing an additional 17,900 shares during the last quarter. Finally, Valueworks LLC increased its position in shares of Star Bulk Carriers by 0.7% during the fourth quarter. Valueworks LLC now owns 362,014 shares of the shipping company’s stock valued at $8,207,000 after acquiring an additional 2,630 shares during the last quarter. 52.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Star Bulk Carriers Company Profile

(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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