Seanergy Maritime (NASDAQ:SHIP) Shares Pass Above 200-Day Moving Average – Here’s What Happened
by Jessica Moore · The Cerbat GemShares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.02 and traded as high as $9.80. Seanergy Maritime shares last traded at $9.58, with a volume of 193,072 shares trading hands.
Analyst Ratings Changes
A number of brokerages have recently commented on SHIP. Zacks Research raised shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a report on Monday. Finally, Wall Street Zen raised shares of Seanergy Maritime from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $11.00.
Read Our Latest Stock Report on SHIP
Seanergy Maritime Stock Down 2.1%
The company has a debt-to-equity ratio of 1.06, a current ratio of 0.39 and a quick ratio of 0.37. The business’s 50 day moving average price is $9.21 and its 200 day moving average price is $8.04. The firm has a market cap of $196.04 million, a PE ratio of 12.85 and a beta of 0.68.
Seanergy Maritime Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 29th will be paid a dividend of $0.13 per share. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, December 29th. This represents a $0.52 annualized dividend and a yield of 5.5%. Seanergy Maritime’s dividend payout ratio (DPR) is presently 27.40%.
Hedge Funds Weigh In On Seanergy Maritime
Several hedge funds and other institutional investors have recently made changes to their positions in SHIP. Arrowstreet Capital Limited Partnership increased its position in shares of Seanergy Maritime by 512.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company’s stock worth $546,000 after purchasing an additional 72,423 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Seanergy Maritime in the third quarter valued at about $484,000. JPMorgan Chase & Co. lifted its stake in shares of Seanergy Maritime by 56.2% in the third quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock worth $367,000 after buying an additional 15,991 shares in the last quarter. Triumph Capital Management acquired a new position in Seanergy Maritime during the third quarter worth about $355,000. Finally, Mackenzie Financial Corp purchased a new stake in Seanergy Maritime during the 3rd quarter valued at about $345,000. Hedge funds and other 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.
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