Diana Shipping inc. (DSX) Short Interest Update
Diana Shipping inc. (NYSE:DSX) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 3,186,912 shares, a decrease of 27.8% from the August 31st total of 4,413,438 shares. Based on an average daily trading volume, of 517,488 shares, the days-to-cover ratio is presently 6.2 days. Approximately 5.0% of the shares of the company are short sold.
A number of hedge funds have recently made changes to their positions in DSX. Franklin Resources Inc. increased its stake in shares of Diana Shipping inc. by 28.8% in the first quarter. Franklin Resources Inc. now owns 14,202,220 shares of the company’s stock worth $37,920,000 after buying an additional 3,179,638 shares during the period. Kopernik Global Investors LLC increased its stake in shares of Diana Shipping inc. by 36.1% in the second quarter. Kopernik Global Investors LLC now owns 4,261,540 shares of the company’s stock worth $10,357,000 after buying an additional 1,130,571 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Diana Shipping inc. by 10.8% in the second quarter. Parametric Portfolio Associates LLC now owns 1,789,768 shares of the company’s stock worth $4,349,000 after buying an additional 175,021 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Diana Shipping inc. during the second quarter worth about $3,879,000. Finally, Royce & Associates LP increased its stake in shares of Diana Shipping inc. by 3.0% in the second quarter. Royce & Associates LP now owns 1,199,433 shares of the company’s stock worth $2,915,000 after buying an additional 35,000 shares during the period. 45.18% of the stock is owned by institutional investors.
Diana Shipping inc. (NYSE:DSX) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by $0.01. The business had revenue of $28.30 million for the quarter, compared to analysts’ expectations of $28.07 million. Diana Shipping inc. had a negative return on equity of 8.54% and a negative net margin of 75.27%. The firm’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period last year, the firm earned ($0.19) earnings per share.
A number of brokerages have recently commented on DSX. Deutsche Bank AG restated a “hold” rating on shares of Diana Shipping inc. in a research note on Wednesday, September 28th. Zacks Investment Research downgraded Diana Shipping inc. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Jefferies Group set a $3.00 target price on Diana Shipping inc. and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Clarkson Capital restated a “neutral” rating on shares of Diana Shipping inc. in a research note on Friday, September 23rd. Finally, Seaport Global Securities began coverage on Diana Shipping inc. in a research note on Tuesday, August 2nd. They issued a “neutral” rating and a $3.00 target price on the stock. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $4.00.
About Diana Shipping inc.
Diana Shipping Inc is a holding company. The Company is engaged in providing shipping transportation services. The Company is also engaged in the ocean transportation of dry bulk cargoes across the world through the ownership of dry bulk carrier vessels. Its fleet consists of over 45 dry bulk vessels, of which 22 are Panamax, four are Kamsarmax, three are Post-Panamax, 14 are Capesize and two are Newcastlemax vessels, having a combined carrying capacity of over 5.2 million dead weight tons.
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