DryShips Inc. (DRYS) Sees Large Volume Increase

Shares of DryShips Inc. (NASDAQ:DRYS) saw an uptick in trading volume on Friday . 18,807,774 shares traded hands during trading, an increase of 175% from the previous session’s volume of 6,850,895 shares.The stock last traded at $4.39 and had previously closed at $3.89.

DryShips (NASDAQ:DRYS) last released its quarterly 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 firm had revenue of $16.38 million for the quarter.

The company also recently declared a special dividend, which will be paid on Tuesday, November 14th. Investors of record on Friday, October 27th will be given a dividend of $0.024 per share. The ex-dividend date of this dividend is Thursday, October 26th. DryShips’s payout ratio is currently 0.00%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu KCG Holdings LLC lifted its position in shares of DryShips by 36.6% during the second quarter. Virtu KCG Holdings LLC now owns 137,710 shares of the shipping company’s stock valued at $175,000 after purchasing an additional 36,878 shares in the last quarter. FNY Partners Fund LP increased its holdings in DryShips by 89.8% during the second quarter. FNY Partners Fund LP now owns 28,000 shares of the shipping company’s stock worth $248,000 after buying an additional 13,250 shares during the last quarter. Creative Planning increased its holdings in DryShips by 337.7% during the second quarter. Creative Planning now owns 486,717 shares of the shipping company’s stock worth $618,000 after buying an additional 375,511 shares during the last quarter. Finally, KCG Holdings Inc. increased its holdings in DryShips by 175.0% during the first quarter. KCG Holdings Inc. now owns 100,832 shares of the shipping company’s stock worth $166,000 after buying an additional 64,168 shares during the last quarter. 1.90% of the stock is currently owned by institutional investors.

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About DryShips

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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