Gabelli Funds LLC bought a new position in DryShips Inc. (NASDAQ:DRYS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 540,000 shares of the shipping company’s stock, valued at approximately $2,824,000. Gabelli Funds LLC owned approximately 0.62% of DryShips as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of DRYS. Morgan Stanley increased its holdings in DryShips by 16,562.3% in the second quarter. Morgan Stanley now owns 366,570 shares of the shipping company’s stock worth $1,401,000 after purchasing an additional 364,370 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of DryShips during the third quarter valued at approximately $1,287,000. Marshall Wace LLP increased its holdings in shares of DryShips by 933.6% during the second quarter. Marshall Wace LLP now owns 138,178 shares of the shipping company’s stock valued at $528,000 after acquiring an additional 124,809 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of DryShips during the second quarter valued at approximately $388,000. Finally, Syquant Capital Sas bought a new stake in shares of DryShips during the third quarter valued at approximately $441,000. Institutional investors and hedge funds own 1.38% of the company’s stock.
Shares of NASDAQ DRYS remained flat at $$5.24 during midday trading on Friday. DryShips Inc. has a one year low of $3.08 and a one year high of $7.22. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average is $5.24 and its 200-day moving average is $4.40. The firm has a market capitalization of $457.09 million, a P/E ratio of 27.58 and a beta of 0.23.
DryShips (NASDAQ:DRYS) last issued its quarterly earnings results on Tuesday, September 17th. The shipping company reported ($0.06) EPS for the quarter. DryShips had a net margin of 3.38% and a return on equity of 2.87%. The firm had revenue of $40.50 million for the quarter.
Separately, BidaskClub upgraded DryShips from a “hold” rating to a “buy” rating in a report on Thursday, September 26th.
DryShips Inc owns and operates ocean going cargo vessels worldwide. It operates through four segments: Drybulk Carrier, Tanker, Gas Carrier, and Offshore Support. The Drybulk Carrier segment offers drybulk commodities transportation services for the steel, electric utility, construction, and agri-food industries.
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