Sound Point Capital Management Lp Exits Position in Scorpio Bulkers Inc (SALT)

Scorpio Bulkers Inc (SALT) : Sound Point Capital Management Lp has sold out all of its stake in Scorpio Bulkers Inc during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 41,666 shares of Scorpio Bulkers Inc which is valued at $139,581.

Other Hedge Funds, Including , Raynor Geoffrey added SALT to its portfolio by purchasing 2,022,077 company shares during the most recent quarter which is valued at $6,773,958. Scorpio Bulkers Inc makes up approx 95.73% of Raynor Geoffrey’s portfolio.Parametric Portfolio Associates boosted its stake in SALT in the latest quarter, The investment management firm added 73,474 additional shares and now holds a total of 96,697 shares of Scorpio Bulkers Inc which is valued at $323,935.Simplex Trading reduced its stake in SALT by selling 11,236 shares or 52.22% in the most recent quarter. The Hedge Fund company now holds 10,282 shares of SALT which is valued at $31,566.

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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