Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Short Interest Up 29.4% in March

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 435,600 shares, an increase of 29.4% from the February 28th total of 336,700 shares. Based on an average daily volume of 229,300 shares, the days-to-cover ratio is presently 1.9 days. Currently, 3.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. MML Investors Services LLC purchased a new stake in Seanergy Maritime during the 3rd quarter worth approximately $383,000. Trueblood Wealth Management LLC bought a new stake in shares of Seanergy Maritime in the fourth quarter worth $97,000. Aigen Investment Management LP bought a new position in Seanergy Maritime during the 4th quarter valued at $84,000. PDT Partners LLC acquired a new position in Seanergy Maritime during the 3rd quarter worth $194,000. Finally, Walleye Capital LLC increased its position in shares of Seanergy Maritime by 8.4% in the 3rd quarter. Walleye Capital LLC now owns 480,336 shares of the shipping company’s stock worth $5,966,000 after purchasing an additional 37,288 shares during the last quarter. Institutional investors and hedge funds own 29.36% of the company’s stock.

Seanergy Maritime Stock Down 3.5 %

Shares of SHIP traded down $0.24 during mid-day trading on Monday, reaching $6.41. 207,055 shares of the stock traded hands, compared to its average volume of 259,703. The firm has a market cap of $130.50 million, a price-to-earnings ratio of 2.74 and a beta of 0.45. The stock has a fifty day simple moving average of $7.00 and a 200 day simple moving average of $8.31. The company has a quick ratio of 0.52, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. Seanergy Maritime has a 12-month low of $6.23 and a 12-month high of $13.19.

Seanergy Maritime Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend is Thursday, March 27th. Seanergy Maritime’s payout ratio is 18.96%.

Analyst Ratings Changes

SHIP has been the topic of a number of recent research reports. Maxim Group reduced their price target on shares of Seanergy Maritime from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. StockNews.com lowered shares of Seanergy Maritime from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th.

Seanergy Maritime Company Profile

Seanergy Maritime Holdings Corp., a shipping company, provides seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 16 Capesize dry bulk vessels and one Newcastlemax dry bulk vessel with a cargo-carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp.