A new 13G filing with the Securities and Exchange Commission revealed that Joel Ramin‘s 12 West Capital Management has increased its stake in Diana Shipping Inc (NYSE:DSX) to 4.22 million common shares, which account for 5.1% of the company’s outstanding stock. Previously, the fund’s stake in the company was comprised of 3.95 million shares.
Diana Shipping is a holding company that provides services in the shipping transportation business, specializing in the ownership of dry bulk vessels. Earlier this month, the company signed a time charter contract with Glencore Grain B.V., Rotterdam, for one of its Panamax dry bulk vessels, the m/v Ismene. Over the past 12 months, Diana Shipping’s shares have dropped by 64.49%. In its financial report for the second quarter of 2016, the company disclosed a loss per share of $0.41 and time charter revenue of $28.3 million, compared to a loss per share of $0.19 and time charter revenue of $38.6 million for the same quarter of 2015. Recently, Seaport Global Securities initiated coverage on Diana Shipping’s stock with a price target of $3.00 and a ‘Neutral’ rating, while Jefferies Group also raised its price target on the stock to $3.00 from $2.50, and has a ‘Hold’ rating on it.
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As per Insider Monkey’s hedge fund database, investors that were bullish on Diana Shipping (NYSE:DSX) as of June 30 included David Iben’s Kopernik Global Investors, which held a position worth around $10.36 million, Chuck Royce’s Royce & Associates, with a position valued at $2.92 million, Jim Simons’ Renaissance Technologies, Jonathan Dawson’s Southport Management, and Ken Griffin’s Citadel Investment Group.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| 4,224,489 | 0 | 4,224,489 | 0 | 4,224,489 | 5.1% |
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Page 1 of 6 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
| DIANA SHIPPING INC. |
| (Name of Issuer) |
| Common STOCK, $0.01 par value |
| (Title of Class of Securities) |
| Y2066G104 |
| (CUSIP Number) |
| August 2, 2016 |
| (Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule 13G
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The
remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided
in a prior cover page.
The
information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section
18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see the Notes).
