DryShips (DRYS) Trading Down 6.6%

DryShips Inc. (NASDAQ:DRYS)’s share price dropped 6.6% during mid-day trading on Wednesday . The company traded as low as $3.92 and last traded at $3.95. Approximately 3,172,600 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 3,907,615 shares. The stock had previously closed at $4.23.

The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.11.

The firm also recently disclosed a special dividend, which was paid on Tuesday, November 14th. Stockholders of record on Friday, October 27th were paid a $0.024 dividend. The ex-dividend date was Thursday, October 26th. DryShips’s dividend payout ratio is 0.00%.

Several hedge funds have recently made changes to their positions in DRYS. Virtu KCG Holdings LLC raised its stake in shares of DryShips by 36.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 137,710 shares of the shipping company’s stock valued at $175,000 after buying an additional 36,878 shares in the last quarter. Sei Investments Co. acquired a new position in shares of DryShips in the 3rd quarter valued at $200,000. Finally, FNY Partners Fund LP raised its stake in shares of DryShips by 89.8% in the 2nd quarter. FNY Partners Fund LP now owns 28,000 shares of the shipping company’s stock valued at $248,000 after buying an additional 13,250 shares in the last quarter. Institutional investors own 2.37% of the company’s stock.

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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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