10 Best Shipping and Container Stocks To Buy

3. Star Bulk Carriers Corp. (NASDAQ:SBLK)

Number of Hedge Fund Holders: 23

Star Bulk Carriers Corp. (NASDAQ:SBLK) provides maritime transportation solutions specializing in the dry bulk sector. The company’s fleet transports major bulks like iron ore, minerals, and grain, as well as minor bulks such as bauxite, fertilizers, and steel products.

In May 2024, Star Bulk Carriers Corp. (NASDAQ:SBLK) announced its financial results for the first quarter, reporting a net income of $75 million and an adjusted net income of $73 million, equating to $0.87 adjusted earnings per share.

In addition, the company completed a merger with US-based Eagle Bulk Shipping in an all-stock deal back in April, creating the world’s largest publicly listed bulker owner. The combined corporation will continue to operate under the name Star Bulk Carriers and be headquartered in Athens. Under the terms of the deal, each Eagle shareholder received 2.6211 shares of SBLK common stock for each share of Eagle common stock owned.

According to Insider Monkey’s review of 919 hedge fund portfolios for the March quarter of 2024, 23 hedge funds had invested in Star Bulk Carriers Corp. (NASDAQ:SBLK). The largest investor among them was Howard Marks’ Oaktree Capital Management, which held $145.79 million worth of shares.