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

Star Bulk Carriers Corp. (NASDAQ:SBLK) was the target of some unusual options trading activity on Wednesday. Stock traders bought 720 call options on the stock. This is an increase of 823% compared to the average volume of 78 call options.

A number of hedge funds have recently made changes to their positions in the business. Oaktree Capital Management LP boosted its stake 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 valued at $316,347,000 after acquiring an additional 140,000 shares during the last quarter. Impala Asset Management LLC boosted its stake 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 valued at $41,833,000 after acquiring an additional 2,361,428 shares during the last quarter. Caspian Capital LP boosted its stake 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 valued at $31,139,000 after acquiring an additional 306,341 shares during the last quarter. Horseman Capital Management Ltd boosted its stake 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 valued at $9,269,000 after acquiring an additional 93,400 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC bought a new position in Star Bulk Carriers in the fourth quarter valued at approximately $4,176,000. 70.49% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on SBLK shares. Zacks Investment Research raised shares of Star Bulk Carriers from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, October 20th. Stifel Nicolaus set a $11.00 price target on shares of Star Bulk Carriers and gave the company a “hold” rating in a research note on Sunday, October 22nd. Jefferies Group started coverage on shares of Star Bulk Carriers in a research note on Monday, December 18th. They set a “buy” rating and a $15.00 price target on the stock. Finally, BidaskClub cut shares of Star Bulk Carriers from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Star Bulk Carriers has a consensus rating of “Buy” and a consensus price target of $13.00.

Star Bulk Carriers (NASDAQ SBLK) opened at $10.51 on Friday. Star Bulk Carriers has a 52 week low of $7.57 and a 52 week high of $13.40. The stock has a market cap of $681.31, a P/E ratio of -5.62 and a beta of 2.60. 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 announced its quarterly earnings data on Sunday, November 19th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). Star Bulk Carriers had a negative net margin of 23.09% and a negative return on equity of 4.04%. The firm had revenue of $80.80 million for the quarter, compared to analysts’ expectations of $81.23 million. equities research analysts predict that Star Bulk Carriers will post -0.33 EPS for the current year.

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Star Bulk Carriers Company Profile

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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