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Star Bulk Carriers Corp. (SBLK) Downgraded to “Hold” at Pareto Securities

Pareto Securities lowered shares of Star Bulk Carriers Corp. from a buy rating to a hold rating in a report.

A number of other brokerages have also recently issued reports on SBLK. Zacks Investment Research cut Star Bulk Carriers Corp. from a buy rating to a hold rating in a report on Saturday, November 12th. Jefferies Group LLC boosted their price objective on Star Bulk Carriers Corp. from $6.50 to $11.00 and gave the stock a buy rating in a report on Monday, January 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $6.05.

Star Bulk Carriers Corp. (NASDAQ:SBLK) traded up 0.71% during midday trading on Thursday, reaching $8.53. The company had a trading volume of 271,739 shares. Star Bulk Carriers Corp. has a one year low of $1.95 and a one year high of $9.50. The stock’s 50 day moving average is $7.40 and its 200 day moving average is $5.33. The company’s market capitalization is $390.11 million.

A hedge fund recently raised its stake in Star Bulk Carriers Corp. stock. Oaktree Capital Management LP raised its position in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK) by 27.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,078,777 shares of the company’s stock after buying an additional 6,217,979 shares during the period. Star Bulk Carriers Corp. comprises about 1.7% of Oaktree Capital Management LP’s investment portfolio, making the stock its 7th largest position. Oaktree Capital Management LP owned approximately 66.16% of Star Bulk Carriers Corp. worth $132,019,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 67.79% of the company’s stock.
Source: Zacks Investment

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