FNY Partners Fund LP Boosts Holdings in DryShips Inc. (DRYS)
FNY Partners Fund LP raised its position in shares of DryShips Inc. (NASDAQ:DRYS) by 89.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,000 shares of the shipping company’s stock after acquiring an additional 13,250 shares during the period. FNY Partners Fund LP owned approximately 9.86% of DryShips worth $248,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the business. KCG Holdings Inc. grew its position in DryShips by 175.0% during the first quarter. KCG Holdings Inc. now owns 100,832 shares of the shipping company’s stock valued at $166,000 after acquiring an additional 64,168 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in DryShips during the first quarter valued at about $206,000. Citadel Advisors LLC purchased a new stake in DryShips during the first quarter valued at about $281,000. Finally, Creative Planning grew its position in DryShips by 337.7% during the second quarter. Creative Planning now owns 486,717 shares of the shipping company’s stock valued at $618,000 after acquiring an additional 375,511 shares during the period. 6.67% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on DRYS. ValuEngine downgraded DryShips from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Vetr raised DryShips from a “strong sell” rating to a “sell” rating and set a $16.24 target price for the company in a research report on Monday, June 26th.
Shares of DryShips Inc. (NASDAQ DRYS) traded down 1.2008% during midday trading on Tuesday, hitting $2.4601. The stock had a trading volume of 1,283,922 shares. The firm has a 50-day moving average price of $2.32 and a 200-day moving average price of $13.38. DryShips Inc. has a 1-year low of $0.98 and a 1-year high of $799,681.63. The firm’s market cap is $698668.38.
DryShips (NASDAQ:DRYS) last posted its earnings results on Wednesday, August 30th. The shipping company reported ($37.12) earnings per share for the quarter. DryShips had a negative net margin of 218.76% and a negative return on equity of 49.79%. The company had revenue of $16.38 million for the quarter. On average, equities analysts anticipate that DryShips Inc. will post $0.07 EPS for the current fiscal year.
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DryShips Company Profile
DryShips, Inc is a holding company. The Company owns drybulk carriers and offshore support vessels. The Company operates through two segments: the drybulk carrier and the offshore support. Under its drybulk segment, the Company operates as a provider of drybulk commodities transportation services for the steel, electric utility, construction and agri-food industries.
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