5 Stocks to Buy Now According to Billionaire Howard Marks

2. Star Bulk Carriers Corporation (NASDAQ:SBLK)

Holding Value: $ 596.54 million

Percentage of 13F portfolio: 8.01%

Number of Hedge Fund Holders: 24

Then there’s Star Bulk Carriers Corporation (NASDAQ:SBLK), a Greece-base provider of seaborne transportation solutions to the dry bulk cargo sector through its fleet of 128 vessels. According to the latest 13F, Oaktree Capital Management owns 25.99 million shares in the company, valued at $596.54 million.

Star Bulk Carriers Corporation (NASDAQ:SBLK) recorded earnings of $1.26 per share in the second quarter, missing estimates by $0.17. At the same time its revenue of $258.42 inched $1.62 million higher than the consensus. Year-to-date Star Bulk Carriers Corporation (NASDAQ: SBLK)’s stock has surged by 155.38%.

There were 24 funds among those we follow that were bullish on Star Bulk Carriers Corporation (NASDAQ: SBLK) at the end of June, up by eleven over the quarter. Additionally, the total value of these funds’ holdings increased from $692.20 million to $862.82 million.

Investment management firm Massif Capital mentioned Star Bulk Carriers Corporation (NASDAQ: SBLK) in its third-quarter investor letter:

“We initiated one long position, one short position and exited one position during the third quarter. Our new long position was in Star Bulk Carriers (SBLK), a pure-play dry bulk operator with roughly 120 controlled vessels and 14 million tons of combined cargo capacity globally.

SBLK has one of the better management teams in the maritime shipping industry and the lowest cost structure among all dry bulk names. After announcing their new dividend policy in May, SBLK now has one of the best payout structures in shipping. The firm has paid out $0.3 and $0.7 per share in dividends for the first and second quarters of 2021. SBLK will most likely announce a dividend for the third quarter somewhere in the $1.15-$1.25 per
share range, depending on movement in net working capital…” (Click here to see the full text)