5 Best Stocks to Buy Now According to Billionaire Howard Marks’ Oaktree Capital

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

Oaktree Capital’s Stake Value: $650 million

Percentage of Oaktree Capital’s 13F Portfolio: 7.55%

Number of Hedge Fund Holders: 18

Star Bulk Carriers Corp. (NASDAQ:SBLK) is a shipping company that is headquartered in Marousi, Greece. The firm ships dry bulk cargo such as iron, grain, fertilizers, and steel products through a fleet of more than one hundred ships.

Mr. Marks’ hedge fund held a $650 million stake in Star Bulk Carriers Corp. (NASDAQ:SBLK) for its Q2 2022 investments. This came in the form of the firm owning 26 million shares of the company. Insider Monkey scanned 895 hedge fund portfolios for this year’s second quarter to find out that 18 had bought the company’s shares.

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s second quarter revenues saw the firm bring in $317 million in operating revenues and a net income of $164 million as it posted strong annual growth in both metrics. Jefferies reduced the company’s share price target to $26 from $30 in September 2022, stating that while coal shipment rates are growing, dry bulk shipments are dropping.

Star Bulk Carriers Corp. (NASDAQ:SBLK)’s second largest investor in our database is Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital which owns one million shares that are worth $25 million.