DryShips Inc. (DRYS): Are Hedge Funds Right About This Stock?

Page 1 of 2

Do you follow DryShips Inc. (NASDAQ:DRYS)?

At the moment, there are dozens of metrics investors can use to watch their holdings. Some of the most under-the-radar are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite fund managers can outperform their index-focused peers by a healthy amount (see just how much).

Just as crucial, optimistic insider trading activity is a second way to analyze the investments you’re interested in. As the old adage goes: there are many reasons for an executive to downsize shares of his or her company, but only one, very simple reason why they would buy. Several academic studies have demonstrated the valuable potential of this strategy if piggybackers know what to do (learn more here).

Now that that’s out of the way, we’re going to study the recent info surrounding DryShips Inc. (NASDAQ:DRYS).

How are hedge funds trading DryShips Inc. (NASDAQ:DRYS)?

At the end of the second quarter, a total of 9 of the hedge funds we track were long in this stock, a change of 0% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their stakes substantially.

DryShips Inc. (NASDAQ:DRYS)

According to our 13F database, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital had the biggest position in DryShips Inc. (NASDAQ:DRYS), worth close to $76.7 million, accounting for 3.2% of its total 13F portfolio. The second largest stake is held by Israel Englander of Millennium Management, with a $7.1 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedgies with similar optimism include Richard Chilton’s Chilton Investment Company, Don Morgan’s Brigade Capital and Ken Griffin’s Citadel Investment Group.

As DryShips Inc. (NASDAQ:DRYS) has experienced declining interest from the entirety of the hedge funds we track, it’s easy to see that there was a specific group of hedgies that elected to cut their full holdings at the end of the second quarter. Interestingly, Jim Simons’s Renaissance Technologies said goodbye to the largest investment of all the hedgies we watch, valued at an estimated $2.9 million in stock, and Michael Hintze of CQS Cayman LP was right behind this move, as the fund sold off about $1.7 million worth. These moves are interesting, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Insider trading activity in DryShips Inc. (NASDAQ:DRYS)

Insider buying is best served when the company we’re looking at has seen transactions within the past 180 days. Over the last half-year time period, DryShips Inc. (NASDAQ:DRYS) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll also review the relationship between both of these indicators in other stocks similar to DryShips Inc. (NASDAQ:DRYS). These stocks are Capital Product Partners L.P. (NASDAQ:CPLP), Alexander & Baldwin Holdings Inc (NYSE:MATX), GasLog Ltd (NYSE:GLOG), Diana Shipping Inc. (NYSE:DSX), and Navios Maritime Partners L.P. (NYSE:NMM). This group of stocks belong to the shipping industry and their market caps match DRYS’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!