Oaktree Capital Management LP has recently announced that it has increased stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) by 0.18%. After grabbing 26.07 million shares, the institutional investor is now in possession of 46026.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 25.39% having worth around $638.91 million. Moreover, Renaissance Technologies LLC increased its share by 0.3 million to have a control over 1.23 million shares. And Balyasny Asset Management LP raised its holdings to 1.03 million shares by acquiring 1.03 million shares or 1.00% of the stake.
Star Bulk Carriers Corp. (SBLK) concluded trading on 03/16/23 at a closing price of $21.38, with 1.26 million shares of worth about $27.04 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 2.30% during that period and on Thursday the price saw a gain of about 1.23%. Currently the company’s common shares owned by public are about 102.86M shares, out of which, 94.69M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the SBLK stock and their offered price forecasts bring an average price target of $27.73. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $33.00 and could fall to a lowest price of $20.00. The stock’s current price level is 25.84% above of average price target set by the analysts, while a rise to estimated low would result in loss of -6.9% for the stock. However, touching the estimated high of $33.00 would mean a gain of 35.21% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 0 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
AB Discovery Value Fund, PSG Flexible Fund, and iShares Emerging Markets Dividend are the top 3 mutual funds which are holding stakes in Star Bulk Carriers Corp. AB Discovery Value Fund is currently holding 1.37 million shares of worth totaling $33.53 million. The company recently came buying 0.11 million shares which brought its stake up to 1.33% of the company’s outstanding shares. PSG Flexible Fund sold 14688.0 shares, after which its hold over company’s outstanding shares shrunk to 0.68%, leaving 0.69 million shares with the mutual fund that have a worth of about $17.02 million. iShares Emerging Markets Dividend, after buying 0.47 million shares, have now control over 0.46% of the stake in the company. It holds 5003.0 shares of worth $11.61 million.
Star Bulk Carriers Corp. (NASDAQ: SBLK) started trading at $20.89, below -$0.23 from concluding price of the previous day. However, the stock later moved at a day high price of 21.43, or with a gain of 1.23%. Stock saw a price change of -1.25% in past 5 days and over the past one month there was a price change of -5.27%. Year-to-date (YTD), SBLK shares are showing a performance of 11.18% which decreased to -20.37% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $16.85 but also hit the highest price of $33.99 during that period. The average intraday trading volume for Star Bulk Carriers Corp. shares is 1.61 million. The stock is currently trading -6.46% below its 20-day simple moving average (SMA20), while that difference is down -3.32% for SMA50 and it goes to -3.55% lower than SMA200.
Oaktree Capital Management LP acquired 26.07 million shares of Star Bulk Carriers Corp. having value of about $638.91 million. Data submitted at the U.S SEC by Oaktree Capital Management LP revealed that the firm now holds 46026.0 shares in the company valued at close to $984035.88, or have control over 0.18% stake in the company. Star Bulk Carriers Corp. (NASDAQ: SBLK) currently have 102.86M outstanding shares and institutions hold larger chunk of about 48.70% of that. Holding of mutual funds in the company is about 39.92% while other institutional holders and individual stake holders have control over 7.94% and — of the stake respectively.
The stock has a current market capitalization of $2.19B and its 3Y-monthly beta is at 1.10. PE ratio of stock for trailing 12 months is 2.18, while it has posted earnings per share of $9.82 in the same period. It has Quick Ratio of 1.50 while making debt-to-equity ratio of 0.64. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SBLK, volatility over the week remained 4.56% while standing at 4.01% over the month.
Stock’s fiscal year EPS is expected to drop by -17.70% while it is estimated to increase by 32.04% in next year.
Analysts at 8 brokerage firms have issued recommendations for the Star Bulk Carriers Corp. (SBLK)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 8 Wall Street analysts, 6 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on July 21, 2022 offering a Buy rating for the stock and assigned a target price of $30 to it. Coverage by Jefferies stated Star Bulk Carriers Corp. (SBLK) stock as a Buy in their note to investors on April 27, 2022, suggesting a price target of $36 for the stock. On February 23, 2022, Pareto Downgrade their recommendations, while on September 13, 2021, H.C. Wainwright Initiated their ratings for the stock with a price target of $35. Stock get a Buy rating from DNB Markets on July 29, 2020.
