Millennium Management LLC Reduces Stake in DryShips Inc. (DRYS)

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Millennium Management LLC lowered its stake in DryShips Inc. (NASDAQ:DRYS) by 71.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,314 shares of the shipping company’s stock after selling 157,752 shares during the quarter. Millennium Management LLC’s holdings in DryShips were worth $228,000 as of its most recent SEC filing.

Separately, Deutsche Bank AG raised its holdings in DryShips by 3,145.4% in the 4th quarter. Deutsche Bank AG now owns 75,424 shares of the shipping company’s stock valued at $266,000 after buying an additional 73,100 shares during the last quarter. Institutional investors own 3.72% of the company’s stock.

DRYS has been the subject of a number of research reports. ValuEngine upgraded shares of DryShips from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. BidaskClub upgraded shares of DryShips from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th.

NASDAQ:DRYS opened at $4.69 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.25 and a quick ratio of 4.25. DryShips Inc. has a fifty-two week low of $1.84 and a fifty-two week high of $6.90.

DryShips (NASDAQ:DRYS) last released its earnings results on Tuesday, July 31st. The shipping company reported $0.02 earnings per share for the quarter. The business had revenue of $43.26 million during the quarter. DryShips had a net margin of 0.39% and a negative return on equity of 2.27%.

About DryShips

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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Institutional Ownership by Quarter for DryShips (NASDAQ:DRYS)

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