Seanergy Maritime (NASDAQ:SHIP) Upgraded at Wall Street Zen
by Teresa Graham · The Cerbat GemWall Street Zen upgraded shares of Seanergy Maritime (NASDAQ:SHIP – Free Report) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.
A number of other research firms have also weighed in on SHIP. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a report on Friday, March 27th. Noble Financial reiterated an “outperform” rating on shares of Seanergy Maritime in a research report on Monday, February 9th. B. Riley Financial lifted their price target on Seanergy Maritime from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Finally, Zacks Research upgraded Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $17.00.
Read Our Latest Stock Analysis on Seanergy Maritime
Seanergy Maritime Stock Down 0.9%
SHIP stock opened at $13.88 on Friday. The firm has a market capitalization of $290.09 million, a PE ratio of 13.88 and a beta of 0.89. Seanergy Maritime has a twelve month low of $4.78 and a twelve month high of $14.93. The stock has a 50-day simple moving average of $12.60 and a two-hundred day simple moving average of $10.36.
Seanergy Maritime Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Friday, March 27th. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.13. Seanergy Maritime’s dividend payout ratio is presently 80.00%.
Institutional Trading of Seanergy Maritime
Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in Seanergy Maritime in the 4th quarter worth approximately $41,000. Allworth Financial LP bought a new stake in Seanergy Maritime in the third quarter valued at approximately $85,000. Truist Financial Corp bought a new stake in Seanergy Maritime in the fourth quarter valued at approximately $113,000. Susquehanna Fundamental Investments LLC bought a new stake in Seanergy Maritime in the fourth quarter valued at approximately $119,000. Finally, Virtu Financial LLC bought a new stake in Seanergy Maritime in the third quarter valued at approximately $134,000. Institutional investors own 29.36% of the company’s stock.
Seanergy Maritime Company Profile
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company’s operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials.
The company’s core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes.