Seanergy Maritime (NASDAQ:SHIP) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.32 and traded as high as $15.67. Seanergy Maritime shares last traded at $15.45, with a volume of 151,905 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SHIP. Weiss Ratings reiterated a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Friday, March 27th. Noble Financial reiterated an “outperform” rating on shares of Seanergy Maritime in a research report on Monday, February 9th. Wall Street Zen upgraded Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 4th. B. Riley Financial lifted their price objective on Seanergy Maritime from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Zacks Research lowered Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Seanergy Maritime has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Seanergy Maritime Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 1.11. The stock has a market cap of $322.94 million, a P/E ratio of 8.63 and a beta of 0.92. The stock has a fifty day simple moving average of $14.82 and a 200-day simple moving average of $12.32.

Seanergy Maritime (NASDAQ:SHIP) last issued its earnings results on Thursday, May 28th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.24. Seanergy Maritime had a return on equity of 14.47% and a net margin of 20.96%.The firm had revenue of $42.85 million for the quarter, compared to analysts’ expectations of $42.15 million. Equities analysts expect that Seanergy Maritime Holdings Corp will post 2.31 earnings per share for the current fiscal year.

Seanergy Maritime Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 29th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 29th. This represents a $0.80 dividend on an annualized basis and a yield of 5.2%. Seanergy Maritime’s dividend payout ratio (DPR) is 44.69%.

Insider Transactions at Seanergy Maritime

In other Seanergy Maritime news, insider Stavros Gyftakis sold 3,570 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.95, for a total transaction of $49,801.50. Following the transaction, the insider owned 236,295 shares in the company, valued at approximately $3,296,315.25. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Seanergy Maritime

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHIP. Arrowstreet Capital Limited Partnership boosted its holdings in 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 buying an additional 72,423 shares during the last quarter. Jane Street Group LLC bought a new position in Seanergy Maritime during the second quarter worth about $124,000. BNP Paribas Financial Markets lifted its holdings in shares of Seanergy Maritime by 12.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock valued at $150,000 after purchasing an additional 2,713 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Seanergy Maritime by 56.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock valued at $367,000 after purchasing an additional 15,991 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Seanergy Maritime during the 3rd quarter valued at about $324,000. Institutional investors own 29.36% of the company’s stock.

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.