Raging Capital Management buys $16,334,979 stake in Scorpio Bulkers Inc (SALT)

Scorpio Bulkers Inc (SALT) : Raging Capital Management scooped up 3,776,653 additional shares in Scorpio Bulkers Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 4,876,113 shares of Scorpio Bulkers Inc which is valued at $16,334,979.Scorpio Bulkers Inc makes up approximately 2.98% of Raging Capital Management’s portfolio.

Other Hedge Funds, Including , Gotham Asset Management added SALT to its portfolio by purchasing 10,162 company shares during the most recent quarter which is valued at $34,043.Geode Capital Management reduced its stake in SALT by selling 949 shares or 2.1% in the most recent quarter. The Hedge Fund company now holds 44,325 shares of SALT which is valued at $148,489.Blackrock Fund Advisors reduced its stake in SALT by selling 144,068 shares or 12.77% in the most recent quarter. The Hedge Fund company now holds 983,849 shares of SALT which is valued at $3,295,894.California State Teachers Retirement System reduced its stake in SALT by selling 14,883 shares or 15.67% in the most recent quarter. The Hedge Fund company now holds 80,068 shares of SALT which is valued at $255,417.

Scorpio Bulkers Inc closed down -0.11 points or -3.19% at $3.34 with 2,20,291 shares getting traded on Thursday. Post opening the session at $3.42, the shares hit an intraday low of $3.275 and an intraday high of $3.47 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Scorpio Bulkers Inc reported $-0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.53. The company had revenue of $17.37 million for the quarter, compared to analysts expectations of $18.04 million. The company’s revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Many Wall Street Analysts have commented on Scorpio Bulkers Inc. Seaport Global Securities Resumed Scorpio Bulkers Inc on Aug 2, 2016 to “Buy”, Price Target of the shares are set at $5.

Scorpio Bulkers Inc is a company engaged in marine transportation based in the Marshall Islands. It is a provider of transportation services of dry bulk commodities. The Company aims to acquire own and operate a fleet of medium-sized dry bulk carriers. It has offices in Monaco and New York. The Company has contracted and agreed to purchase 28 Ultramax 21 Kamsarmax and three Capesize newbuilding dry ship vessels with deliveries scheduled from second quarter of 2014. It is a part of the Scorpio Group.

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