SBLK - Star Bulk Strengthens Position With Share Buyback: Analyst Highlights Healthy Dry Bulk Market Outlook | Benzinga
Jefferies analyst Omar Nokta reiterated a Buy rating on the shares of Star Bulk Carriers Corp (NASDAQ: SBLK) with a price target of $22.
The company said that it entered into a Repurchase Agreement with OCM XL Holdings, LP (Oaktree Shareholders), through which Star Bulk agreed to purchase 10 million of its shares from the seller at $18.50 per share.
Oaktree's long-term holding will fall from 25.2% to 17.2% following the deal, and the firm will see its Board representation reduced from three seats to two seats.
The ...