Polygon Management Ltd. adds Scorpio Bulkers Inc (SALT) to its portfolio

Scorpio Bulkers Inc (SALT) : Polygon Management Ltd. added new position in Scorpio Bulkers Inc during the most recent quarter end. The investment management firm now holds 1,330,000 shares of Scorpio Bulkers Inc which is valued at $4.8 Million , the company said in a statement filed on May 13, 2016 with the SEC.Scorpio Bulkers Inc makes up approximately 6.69% of Polygon Management Ltd.’s portfolio.

Other Hedge Funds, Including , Marathon Capital Management boosted its stake in SALT in the latest quarter, The investment management firm added 125 additional shares and now holds a total of 18,625 shares of Scorpio Bulkers Inc which is valued at $67,236. Scorpio Bulkers Inc makes up approx 0.03% of Marathon Capital Management’s portfolio. Sg Americas Securities added SALT to its portfolio by purchasing 32,132 company shares during the most recent quarter which is valued at $115,997.Blackrock Investment Management boosted its stake in SALT in the latest quarter, The investment management firm added 74,345 additional shares and now holds a total of 181,467 shares of Scorpio Bulkers Inc which is valued at $655,096.Manufacturers Life Insurance Company The boosted its stake in SALT in the latest quarter, The investment management firm added 1,457 additional shares and now holds a total of 19,311 shares of Scorpio Bulkers Inc which is valued at $69,713.

Scorpio Bulkers Inc opened for trading at $3.65 and hit $3.67 on the upside on Wednesday, eventually ending the session at $3.67, with a gain of 1.10% or 0.04 points. The heightened volatility saw the trading volume jump to 2,59,204 shares. Company has a market cap of $182 M.

On the company’s financial health, Scorpio Bulkers Inc reported $-1.12 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $-1.10. The company had revenue of $10.24 million for the quarter, compared to analysts expectations of $11.10 million. The company’s revenue was down -16.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-1.16 EPS.

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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