Monarch Alternative Capital‘s stake in Star Bulk Carriers Corp (NASDAQ:SBLK) has been reduced by almost 6,000 shares as per a recently amended 13D filing with the Securities and Exchange Commission. At the end of June, the fund managed by Michael Weinstock owned around 2.35 million shares and has since lowered its stake to 2.34 million, which amass 4.19% of the stock’s float.
Star Bulk Carriers Corp (NASDAQ:SBLK) is a global shipping company that operates a fleet of dry bulk carrier vessels. Year-to-date, the company’s stock is up by an exceptional 650.29%. Earlier this month, Deutsche Bank AG reiterated its ‘Hold’ rating on Star Bulk Carriers’ stock, while Morgan Stanley reiterated its ‘Sell’ rating on it, along with a price target of $3, and Jefferies Group reiterated a ‘Buy’ rating and raised its price target on it to $6 from $5.
Seven investors within our database were bullish on Star Bulk Carriers Corp (NASDAQ:SBLK) at the end of June, same as at the end of March. Among them were Howard Marks’ Oaktree Capital Management, with a position valued at $67.67 million, Mark Weissman, Adam Cohen and David Coleto’s Caspian Capital Partners, which owned a position worth $8.92 million, John Angelo and Michael Gordon’s Angelo Gordon & Co, Noam Gottesman’s GLG Partners, and Charles Lemonides’ Valueworks LLC.
Follow Star Bulk Carriers Corp (NASDAQ:SBLK)
Follow Star Bulk Carriers Corp (NASDAQ:SBLK)
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Monarch Alternative Capital | 0 | 2,343,893 | 0 | 2,343,893 | 2,343,893 | 4.19% |
| MDRA GP | 0 | 2,343,893 | 0 | 2,343,893 | 2,343,893 | 4.19% |
| Monarch GP | 0 | 2,343,893 | 0 | 2,343,893 | 2,343,893 | 4.19% |
Follow Michael Weinstock's Monarch Alternative Capital
Page 1 of 6 – SEC Filing
Star Bulk Carriers Corp.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
Y8162K121
(CUSIP Number)
(212) 728-8000
(Name, Address and Telephone Number of Person Authorized to
September 20, 2016
(Date of Event which Requires Filing of this Statement)
