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

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Star Bulk Carriers Corp. (NASDAQ:SBLK) was the target of some unusual options trading activity on Thursday. Stock investors acquired 4,110 call options on the stock. This is an increase of approximately 1,081% compared to the average volume of 348 call options.

Shares of Star Bulk Carriers stock traded up $0.42 on Thursday, hitting $12.23. 31,904 shares of the company traded hands, compared to its average volume of 1,160,618. The stock has a market capitalization of $1.17 billion, a P/E ratio of 252.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.07 and a current ratio of 1.07. Star Bulk Carriers has a 52 week low of $3.86 and a 52 week high of $12.22. The business has a 50-day simple moving average of $10.44 and a 200 day simple moving average of $7.94.

Star Bulk Carriers (NASDAQ:SBLK) last announced its quarterly earnings results on Sunday, November 15th. The shipping company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). Star Bulk Carriers had a return on equity of 1.41% and a net margin of 0.71%. The business had revenue of $200.22 million during the quarter, compared to the consensus estimate of $195.34 million. Research analysts expect that Star Bulk Carriers will post 0.04 earnings per share for the current year.

Several equities analysts have weighed in on SBLK shares. Pareto Securities downgraded shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. Jefferies Financial Group lifted their price objective on shares of Star Bulk Carriers from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, January 29th. TheStreet upgraded shares of Star Bulk Carriers from a “d+” rating to a “c-” rating in a research report on Tuesday. Finally, Zacks Investment Research cut shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research report on Thursday, December 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.90.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jefferies Group LLC increased its position in Star Bulk Carriers by 5.4% in the third quarter. Jefferies Group LLC now owns 5,381,373 shares of the shipping company’s stock worth $37,078,000 after purchasing an additional 277,198 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Star Bulk Carriers in the fourth quarter worth $5,024,000. Arrowstreet Capital Limited Partnership increased its position in Star Bulk Carriers by 77.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 395,987 shares of the shipping company’s stock worth $2,728,000 after purchasing an additional 172,387 shares during the last quarter. California Public Employees Retirement System increased its position in Star Bulk Carriers by 3.1% in the third quarter. California Public Employees Retirement System now owns 96,800 shares of the shipping company’s stock worth $667,000 after purchasing an additional 2,900 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in Star Bulk Carriers by 125.4% in the third quarter. GSA Capital Partners LLP now owns 87,846 shares of the shipping company’s stock worth $605,000 after purchasing an additional 48,867 shares during the last quarter. Institutional investors own 55.21% of the company’s stock.

About Star Bulk Carriers

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 February 29, 2020, it had a fleet of 116 vessels with an aggregate capacity of approximately 12.9 million deadweight ton, including consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels.

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