Oaktree Capital Management LP recently announced the acquisition of new stake in Star Bulk Carriers Corp. (NASDAQ:SBLK). The institutional investor has increased its shareholding in the Industrials company by 0.18% to 26.07 million shares with purchase of 46026.0 shares. This fresh investment now brings its stake to 25.34% valued currently at $550.28 million. In addition, Balyasny Asset Management LP raised its holdings by 1.03 million to 1.03 million shares. And ExodusPoint Capital Management LP has lifted its position by 51.30% or 0.18 million shares – to 0.54 million shares.
With over 1.58 million Star Bulk Carriers Corp. (SBLK) shares trading Monday and a closing price of $18.61 on the day, the dollar volume was approximately $29.37 million. The shares have shown a negative half year performance of -6.48% and its price on 05/22/23 lost nearly -1.53%. Currently, there are 102.97M common shares owned by the public and among those 93.34M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for SBLK have a consensus price objective of $28.13. The analysts have set the share’s price value over the next 12 months at a high of $34.00 and a low of $20.00. The average price target is 35.13% above its recent price level and an upside to the estimated low will see the stock gain 6.95% over that period. But an upside of 45.26% will see the stock hit the forecast high price target while median target price for the stock is $29.00.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Star Bulk Carriers Corp. are AB Discovery Value Fund, PSG Flexible Fund, and iShares Emerging Markets Dividend. AB Discovery Value Fund owns 1.37 million shares of the company’s stock, all valued at over $28.88 million. PSG Flexible Fund sold 14688.0 shares to see its total holdings shrink to 0.69 million shares valued at over $14.66 million and representing 0.68% of the shares outstanding. iShares Emerging Markets Dividend now owns shares totaling to 0.42% of the shares outstanding.
Shares of Star Bulk Carriers Corp. (NASDAQ: SBLK) opened at $18.74, down -$0.16 from a prior closing price of $18.90. However, the script later moved the day high at 18.89, down -1.53%. The company’s stock has a 5-day price change of 1.58% and -15.52% over the past three months. SBLK shares are trading -3.22% year to date (YTD), with the 12-month market performance down to -42.22% lower. It has a 12-month low price of $16.85 and touched a high of $33.99 over the same period. SBLK has an average intraday trading volume of 1.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.39%, -9.21%, and -10.73% respectively.
Institutional ownership of Star Bulk Carriers Corp. (NASDAQ: SBLK) shares accounts for 48.70% of the company’s 102.97M shares outstanding. Mutual fund holders own 39.81%, while other institutional holders and individual stakeholders account for 8.52% and — respectively.
It has a market capitalization of $1.92B and a beta (3y monthly) value of 1.06. The stock’s trailing 12-month PE ratio is 2.17, while the earnings-per-share (ttm) stands at $8.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.30% over the week and 3.50% over the month.
Analysts forecast that Star Bulk Carriers Corp. (SBLK) will achieve an EPS of $0.67 for the current quarter, $1.15 for the next quarter and $4.49 for 2024. The lowest estimate earnings-per-share for the quarter is $0.25 while analysts give the company a high EPS estimate of $1.23. Comparatively, EPS for the current quarter was $2 a year ago. Earnings per share for the fiscal year are expected to decrease by -17.70%, and 39.88% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Star Bulk Carriers Corp. (SBLK) as a “Strong Buy” at a consensus score of 1.70. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 1 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
