Stavros Gyftakis Sells 3,570 Shares of Seanergy Maritime (NASDAQ:SHIP) Stock
by Mitch Edgeman · The Markets DailySeanergy Maritime Holdings Corp (NASDAQ:SHIP – Get Free Report) insider Stavros Gyftakis sold 3,570 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.95, for a total value of $49,801.50. Following the transaction, the insider owned 236,295 shares of the company’s stock, valued at approximately $3,296,315.25. The trade was a 1.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Seanergy Maritime Stock Performance
NASDAQ:SHIP traded up $0.30 during trading hours on Wednesday, reaching $13.98. The stock had a trading volume of 138,863 shares, compared to its average volume of 251,933. The company has a 50 day moving average price of $12.67 and a two-hundred day moving average price of $10.40. Seanergy Maritime Holdings Corp has a 52 week low of $4.88 and a 52 week high of $14.93. The stock has a market capitalization of $292.21 million, a PE ratio of 13.98 and a beta of 0.89.
Seanergy Maritime Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.7%. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, March 27th. Seanergy Maritime’s dividend payout ratio (DPR) is 80.00%.
Institutional Investors 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 boosted its stake in shares of Seanergy Maritime by 512.1% during the 2nd 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 during the period. Jane Street Group LLC purchased a new position in shares of Seanergy Maritime during the second quarter valued at approximately $124,000. BNP Paribas Financial Markets boosted its position in shares of Seanergy Maritime by 12.9% during the second quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock valued at $150,000 after buying an additional 2,713 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Seanergy Maritime by 56.2% during the third quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock valued at $367,000 after buying an additional 15,991 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Seanergy Maritime in the third quarter worth approximately $324,000. Hedge funds and other institutional investors own 29.36% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SHIP. Wall Street Zen upgraded shares of Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Friday, March 27th. Zacks Research raised Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. B. Riley Financial upped their price objective 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, Noble Financial reaffirmed an “outperform” rating on shares of Seanergy Maritime in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Seanergy Maritime currently has an average rating of “Buy” and an average price target of $17.00.
Get Our Latest Stock Analysis on Seanergy Maritime
About Seanergy Maritime
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.