Shares of DryShips Inc. (NASDAQ:DRYS) shot up 21.2% on Wednesday after an insider bought additional shares in the company. The stock traded as high as $5.75 and last traded at $5.25, with a volume of 23,525,747 shares trading hands. The stock had previously closed at $4.33.

Specifically, major shareholder James Leichter bought 100,000 shares of the business’s stock in a transaction on Monday, November 28th. The shares were bought at an average cost of $5.81 per share, with a total value of $581,000.00. Following the purchase, the insider now directly owns 300,000 shares in the company, valued at $1,743,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

The company’s market cap is $5.82 million. The firm has a 50-day moving average price of $11.16 and a 200-day moving average price of $33.80.

Several hedge funds have recently modified their holdings of DRYS. A.R.T. Advisors LLC raised its stake in shares of DryShips by 236.8% in the second quarter. A.R.T. Advisors LLC now owns 225,303 shares of the company’s stock worth $126,000 after buying an additional 158,403 shares in the last quarter. Bridgeway Capital Management Inc. bought a new stake in shares of DryShips during the second quarter worth $136,000. Oxford Asset Management bought a new stake in shares of DryShips during the second quarter worth $181,000. Finally, Parametric Portfolio Associates LLC raised its stake in shares of DryShips by 33.6% in the second quarter. Parametric Portfolio Associates LLC now owns 442,444 shares of the company’s stock worth $249,000 after buying an additional 111,298 shares in the last quarter. 46.60% of the stock is owned by institutional investors and hedge funds.

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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.

5 Day Chart for NASDAQ:DRYS

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