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

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the target of unusually large options trading on Thursday. Traders bought 2,282 call options on the stock. This represents an increase of 1,127% compared to the typical volume of 186 call options.

Several equities analysts recently commented on the company. BidaskClub cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. ValuEngine cut Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Zacks Investment Research cut Star Bulk Carriers from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, Deutsche Bank set a $17.00 target price on Star Bulk Carriers and gave the stock a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $16.71.

SBLK opened at $10.53 on Friday. Star Bulk Carriers has a 12-month low of $8.62 and a 12-month high of $15.38. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.59 and a quick ratio of 1.46. The stock has a market capitalization of $775.16 million, a PE ratio of -47.05 and a beta of 2.59.

Star Bulk Carriers (NASDAQ:SBLK) last posted its quarterly earnings data on Tuesday, August 7th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Star Bulk Carriers had a return on equity of 3.73% and a net margin of 8.39%. The firm had revenue of $132.60 million during the quarter, compared to analysts’ expectations of $122.37 million. As a group, equities research analysts expect that Star Bulk Carriers will post 1.22 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantitative Systematic Strategies LLC purchased a new position in shares of Star Bulk Carriers in the 2nd quarter worth about $142,000. WealthTrust Axiom LLC purchased a new position in shares of Star Bulk Carriers in the 3rd quarter worth about $144,000. Cubist Systematic Strategies LLC purchased a new position in shares of Star Bulk Carriers in the 1st quarter worth about $180,000. FNY Investment Advisers LLC purchased a new position in shares of Star Bulk Carriers in the 3rd quarter worth about $285,000. Finally, Paloma Partners Management Co boosted its holdings in shares of Star Bulk Carriers by 27.8% in the 2nd quarter. Paloma Partners Management Co now owns 32,489 shares of the shipping company’s stock worth $418,000 after purchasing an additional 7,074 shares in the last quarter. Hedge funds and other institutional investors own 68.09% of the company’s stock.

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Star Bulk Carriers Company Profile

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its 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 August 29, 2018, the company had a fleet of 111 vessels with an aggregate capacity of approximately 12.67 million deadweight ton (dwt), including 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax, and 12 Supramax vessels.

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