Eagle Bulk Shipping Purchased Oaktree Capital Stake in Company For $58/Share
Portfolio Pulse from Charles Gross
Eagle Bulk Shipping has repurchased approximately 3.8 million shares of its common stock from Oaktree Capital Management, representing Oaktree's entire 28% ownership in the company, for an aggregate purchase price of $219.3 million.

June 22, 2023 | 9:35 pm
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POSITIVE IMPACT
Eagle Bulk Shipping's repurchase of 3.8 million shares from Oaktree Capital Management could lead to a short-term positive impact on the stock price.
The repurchase of shares by Eagle Bulk Shipping represents a significant portion of the company's outstanding shares, which could lead to a short-term increase in demand for the stock. Additionally, the purchase price of $58.00 per share represents a discount of approximately 16% to Net Asset Value, which may be seen as a positive signal by investors.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100