Star Bulk Carriers (NASDAQ:SBLK) Stock Rating Upgraded by Jefferies Financial Group

Star Bulk Carriers (NASDAQ:SBLK) was upgraded by Jefferies Financial Group to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Star Bulk Carriers in a research note on Friday, March 27th. Wall Street Zen raised Star Bulk Carriers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 18th. Finally, Zacks Research raised Star Bulk Carriers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $29.00.

Star Bulk Carriers Trading Up 0.2%

NASDAQ:SBLK opened at $24.23 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.34. Star Bulk Carriers has a 1-year low of $14.26 and a 1-year high of $27.20. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 33.19 and a beta of 0.78. The stock has a fifty day simple moving average of $24.03 and a 200 day simple moving average of $21.20.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. Star Bulk Carriers had a return on equity of 3.89% and a net margin of 8.07%.The business had revenue of $230.79 million during the quarter, compared to analyst estimates of $250.51 million. Sell-side analysts forecast that Star Bulk Carriers will post 3.85 earnings per share for the current year.

Insider Transactions at Star Bulk Carriers

In related news, COO Nikolaos Reskos sold 8,406 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $25.05, for a total value of $210,570.30. Following the completion of the sale, the chief operating officer directly owned 440,878 shares of the company’s stock, valued at approximately $11,043,993.90. This represents a 1.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Star Bulk Carriers

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Star Bulk Carriers during the 1st quarter worth about $187,000. Fearnley Asset Management AS purchased a new stake in shares of Star Bulk Carriers during the 4th quarter worth about $11,096,000. XTX Topco Ltd purchased a new stake in shares of Star Bulk Carriers during the 4th quarter worth about $2,505,000. Voloridge Investment Management LLC purchased a new stake in shares of Star Bulk Carriers during the 4th quarter worth about $3,808,000. Finally, Millennium Management LLC raised its stake in shares of Star Bulk Carriers by 1,018.5% during the 4th quarter. Millennium Management LLC now owns 887,056 shares of the shipping company’s stock worth $17,049,000 after purchasing an additional 807,751 shares in the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.

About Star Bulk Carriers

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.