Eagle Bulk Shipping’s largest shareholder has added over $4m to its stake in the US-listed shipowner.
Oaktree Capital Group bought the shares across six trading days during the Christmas holidays, according to an SEC filing.
In all it spent $4.21m on stock in Eagle Bulk, the supramax and ultramax specialist.
Following the investment Oaktree funds control 36.12% of Eagle, a stake worth $120.87m at the last trading price.
Oaktree is the largest investor in the company, ahead of Goldentree Asset Management, AC Maritime, Neuberger Berman and Vanguard.
Other significant shareholders include Strategic Value Partners, Dimensional Fund Advisors, Renaissance Technologies and Mangrove Partners.
Eagle Bulk finished 2018 with its stock trading at $4.61 per share, giving the company a market capitalization of $342.36m.
It has a fleet of 47 ships on the water worth $645.1m, according to VesselsValue.
