The New Michael Weinstock’s Monarch Alternative Capital Lp Holding in Star Bulk Carriers Corp
Monarch Alternative Capital Lp filed with the SEC SC 13D/A form for Star Bulk Carriers Corp. The form can be accessed here: 000089914016001619. As reported in Michael Weinstock’s Monarch Alternative Capital Lp’s form, the filler as of late owns 4.19% or 2,343,893 shares of the Transports–company.
Star Bulk Carriers Corp stake is a new one for the for the hedge fund and it was filed because of activity on September 20, 2016. We feel this shows Michael Weinstock’s Monarch Alternative Capital Lp’s positive view for the stock. For a hedge fund managing $6.62 billion in assets and having 60+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.
The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Michael Weinstock’s Monarch Alternative Capital Lp’s US equities portfolio is in this sector.
Star Bulk Carriers Corp Institutional Sentiment
Latest Security and Exchange filings show 37 investors own Star Bulk Carriers Corp. The institutional ownership in Q3 2015 is low, at 387.93% of the outstanding shares. This is increased by 500303 the total institutional shares. 170534686 were the shares owned by these institutional investors. In total 7 funds opened new Star Bulk Carriers Corp stakes, 10 increased stakes. There were 11 that closed positions and 10 reduced them.
3 managers had the stock in their top Ten. Notable investors are: .
Scepter Holdings Inc is an institutional investor bullish on Star Bulk Carriers Corp, owning 1312252 shares as of Q3 2015 for 1.65% of its portfolio. Candlewood Investment Group Lp owns 29399 shares or 0.05% of its portfolio. NY Caspian Capital Lp have 7.35% of their stock portfolio for 16364580 shares. Further, Monarch Alternative Capital Lp reported stake worth 8.29% of its US stock portfolio. The CA Oaktree Capital Management Lp owns 113135679 shares. Star Bulk Carriers Corp is 3.04% of the manager’s US portfolio.
Star Bulk Carriers Corp. is an international shipping company. The Company owns and operates a fleet of dry bulk carrier vessels. The Company’s segment is operating dry bulk vessels. The Company will have a fleet of approximately 76 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels, with a carrying capacity between 45,588 dwt and 209,537 deadweight tonnage (dwt). Its fleet, which emphasizes Capesize vessels, primarily transports minerals from the Americas and Australia to East Asia, particularly China, as well as Japan, South Korea, Taiwan, Indonesia and Malaysia. The Company’s Supramax vessels carry minerals, grain products and steel between the Americas, Europe, Africa, Australia and Indonesia and from these areas to China, Japan, South Korea, Taiwan, the Philippines and Malaysia. Its vessels include Maharaj, Star Poseidon, Leviathan, Peloreus, Star Borealis, Star Angie, Star Georgia, Star Nina and Mercurial Virgo.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Michael Weinstock’s Monarch Alternative Capital Lp website.
It is down 46.45% since February 29, 2016 and is uptrending. It has outperformed by 34.24% the S&P500.
Star Bulk Carriers Corp. is an international shipping company. The company has a market cap of $199.56 million. The Firm owns and operates a fleet of dry bulk carrier vessels. It currently has negative earnings. The Company’s segment is operating dry bulk vessels.
Star Bulk Carriers Corp. (NASDAQ:SBLK) Ratings Coverage
Out of 7 analysts covering Star Bulk Carriers (NASDAQ:SBLK), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. $4.50 is the highest target while $1 is the lowest. The $2.17 average target is -52.20% below today’s ($4.54) stock price. Star Bulk Carriers has been the topic of 15 analyst reports since September 1, 2015 according to StockzIntelligence Inc. Deutsche Bank downgraded Star Bulk Carriers Corp. (NASDAQ:SBLK) rating on Wednesday, November 18. Deutsche Bank has “Hold” rating and $1 price target. The rating was upgraded by UBS on Friday, November 20 to “Neutral”. Morgan Stanley downgraded the shares of SBLK in a report on Tuesday, December 15 to “Underweight” rating. As per Thursday, April 21, the company rating was upgraded by ABN Amro. The stock of Star Bulk Carriers Corp. (NASDAQ:SBLK) has “Buy” rating given on Monday, September 28 by Deutsche Bank. The rating was downgraded by Stifel Nicolaus to “Hold” on Thursday, January 7. UBS downgraded the stock to “Sell” rating in Wednesday, October 28 report. The firm has “Neutral” rating by JP Morgan given on Tuesday, January 26. The rating was upgraded by JP Morgan to “Overweight” on Tuesday, July 19. The stock of Star Bulk Carriers Corp. (NASDAQ:SBLK) has “Neutral” rating given on Tuesday, August 2 by Seaport Global.
More important recent Star Bulk Carriers Corp. (NASDAQ:SBLK) news were published by: Finance.Yahoo.com which released: “Star Bulk Carriers Corp. Announces $51.5 Million Public Offering of Common Stock” on September 14, 2016, also Valuewalk.com published article titled: “Star Bulk Carriers Corp. (SBLK): 10 Bagger Or Bust”, Seekingalpha.com published: “Massive Restructuring Looms For Star Bulk Carriers” on June 22, 2016. More interesting news about Star Bulk Carriers Corp. (NASDAQ:SBLK) was released by: Fool.com and their article: “Why Star Bulk Carriers Corp. (SBLK) Stock Fell 13% Today” with publication date: May 13, 2015.
According to Zacks Investment Research, “STAR BULK is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under the symbols SBLK and SBLKW respectively. Currently, Star Bulk has an operating fleet of nine dry bulk carriers, plus definitive agreement to acquire two further dry bulk carriers.”
SBLK Company Profile
Star Bulk Carriers Corp., incorporated on December 13, 2006, is an international shipping company. The Firm owns and operates a fleet of dry bulk carrier vessels. The Company’s segment is operating dry bulk vessels. The Firm has a fleet of approximately 76 vessels consisting primarily of Newcastlemax and Capesize, as well as Kamsarmax, Ultramax and Supramax vessels, with a carrying capacity between 45,588 and 209,537 deadweight tonnage (dwt). The Company’s vessels transport a range of bulk commodities, including ores, coal, grains and fertilizers, along shipping routes across the world.
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