BlackRock Advisors LLC raised its position in Scorpio Bulkers Inc. (NYSE:SALT) by 25.5% during the third quarter, Holdings Channel reports. The firm owned 975,818 shares of the company’s stock after buying an additional 198,382 shares during the period. BlackRock Advisors LLC’s holdings in Scorpio Bulkers were worth $3,376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Scorpio Bulkers by 18.4% in the second quarter. Rhumbline Advisers now owns 46,489 shares of the company’s stock worth $130,000 after buying an additional 7,241 shares during the period. Nomura Holdings Inc. acquired a new position in Scorpio Bulkers during the second quarter worth $133,000. Valueworks LLC acquired a new position in Scorpio Bulkers during the second quarter worth $142,000. Nationwide Fund Advisors raised its position in Scorpio Bulkers by 20.2% in the second quarter. Nationwide Fund Advisors now owns 53,829 shares of the company’s stock worth $150,000 after buying an additional 9,043 shares during the period. Finally, Vanguard Group Inc. raised its position in Scorpio Bulkers by 3.7% in the second quarter. Vanguard Group Inc. now owns 74,495 shares of the company’s stock worth $208,000 after buying an additional 2,638 shares during the period. 35.54% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Scorpio Bulkers (NYSE:SALT)

Scorpio Bulkers Inc. (NYSE:SALT) traded up 2.50% during mid-day trading on Friday, reaching $6.15. 335,546 shares of the company traded hands. The stock’s market capitalization is $440.18 million. The stock has a 50-day moving average of $5.31 and a 200 day moving average of $4.01. Scorpio Bulkers Inc. has a 52-week low of $1.79 and a 52-week high of $6.30.

Scorpio Bulkers (NYSE:SALT) last issued its earnings results on Monday, October 31st. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.29) by $0.01. Scorpio Bulkers had a negative return on equity of 10.57% and a negative net margin of 552.25%. The company had revenue of $23.90 million for the quarter, compared to analyst estimates of $24.30 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 57.2% compared to the same quarter last year. Equities research analysts expect that Scorpio Bulkers Inc. will post ($1.74) earnings per share for the current year.

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A number of research analysts have weighed in on the stock. Deutsche Bank AG raised their target price on shares of Scorpio Bulkers from $3.00 to $4.50 and gave the stock a “hold” rating in a research note on Tuesday, September 27th. Zacks Investment Research raised shares of Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research note on Tuesday, January 3rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $6.17.

Scorpio Bulkers Company Profile

Scorpio Bulkers Inc is a shipping company. The Company offers marine transportation services for a range of bulk commodities, including ores, coal, grains and fertilizers using its vessels. The Company focuses to acquire and operate the drybulk carriers. The Company operates through three segments: Capesize, Kamsarmax and Ultramax.

5 Day Chart for NYSE:SALT

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