Star Bulk Carriers Sees Unusually Large Options Volume (SBLK)

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 1,197 put options on the company. This is an increase of 1,201% compared to the average daily volume of 92 put options.

A number of large investors have recently added to or reduced their stakes in SBLK. Oaktree Capital Management LP raised its holdings in Star Bulk Carriers by 0.4% in the third quarter. Oaktree Capital Management LP now owns 32,579,506 shares of the shipping company’s stock worth $316,347,000 after purchasing an additional 140,000 shares in the last quarter. Impala Asset Management LLC raised its holdings in Star Bulk Carriers by 121.3% in the third quarter. Impala Asset Management LLC now owns 4,308,203 shares of the shipping company’s stock worth $41,833,000 after purchasing an additional 2,361,428 shares in the last quarter. Caspian Capital LP raised its holdings in Star Bulk Carriers by 10.7% in the second quarter. Caspian Capital LP now owns 3,167,787 shares of the shipping company’s stock worth $31,139,000 after purchasing an additional 306,341 shares in the last quarter. Horseman Capital Management Ltd raised its holdings in Star Bulk Carriers by 10.8% in the third quarter. Horseman Capital Management Ltd now owns 954,600 shares of the shipping company’s stock worth $9,269,000 after purchasing an additional 93,400 shares in the last quarter. Finally, River & Mercantile Asset Management LLP raised its holdings in Star Bulk Carriers by 5.7% in the third quarter. River & Mercantile Asset Management LLP now owns 315,819 shares of the shipping company’s stock worth $3,063,000 after purchasing an additional 17,000 shares in the last quarter. 70.43% of the stock is owned by institutional investors.

Shares of Star Bulk Carriers (NASDAQ SBLK) opened at $11.49 on Friday. Star Bulk Carriers has a one year low of $7.57 and a one year high of $13.40. The firm has a market cap of $737.12, a PE ratio of -6.14 and a beta of 2.73. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.90.

Star Bulk Carriers (NASDAQ:SBLK) last released its quarterly earnings data on Sunday, November 19th. The shipping company reported ($0.08) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.08). Star Bulk Carriers had a negative net margin of 23.09% and a negative return on equity of 4.04%. analysts anticipate that Star Bulk Carriers will post -0.37 EPS for the current year.

SBLK has been the subject of a number of research reports. Zacks Investment Research lowered shares of Star Bulk Carriers from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Jefferies Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Star Bulk Carriers in a research note on Thursday, October 19th. TheStreet lowered shares of Star Bulk Carriers from a “c” rating to a “d+” rating in a research note on Thursday, September 28th. Finally, Stifel Nicolaus set a $11.00 price objective on shares of Star Bulk Carriers and gave the stock a “hold” rating in a research note on Sunday, October 22nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.00.

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About Star Bulk Carriers

Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. As of December 31, 2016, the Company’s fleet included 73 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels with a carrying capacity between 52,055 and 209,537 deadweight tonnage (dwt).

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