Insider Selling: Seanergy Maritime (NASDAQ:SHIP) Director Sells $257,850.00 in Stock

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) Director Christina Anagnostara sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $17.19, for a total value of $257,850.00. Following the completion of the sale, the director owned 178,239 shares of the company’s stock, valued at approximately $3,063,928.41. This trade represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Seanergy Maritime Price Performance

Seanergy Maritime stock opened at $16.86 on Monday. The stock’s fifty day moving average price is $15.35 and its two-hundred day moving average price is $14.11. Seanergy Maritime Holdings Corp has a one year low of $7.21 and a one year high of $18.48. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.85 and a quick ratio of 0.83. The firm has a market cap of $352.37 million, a PE ratio of 5.90 and a beta of 0.92.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings data on Thursday, July 30th. The shipping company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. The firm had revenue of $55.69 million during the quarter, compared to analysts’ expectations of $53.90 million. Seanergy Maritime had a return on equity of 21.87% and a net margin of 30.68%. As a group, research analysts expect that Seanergy Maritime Holdings Corp will post 2.87 EPS for the current fiscal year.

Seanergy Maritime Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a dividend of $0.35 per share. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.20. This represents a $1.40 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Friday, September 25th. Seanergy Maritime’s dividend payout ratio (DPR) is currently 27.97%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers boosted its holdings in shares of Seanergy Maritime by 4.2% during the 1st quarter. Cetera Investment Advisers now owns 20,504 shares of the shipping company’s stock valued at $265,000 after acquiring an additional 829 shares in the last quarter. BNP Paribas Financial Markets raised its position in Seanergy Maritime by 12.9% in the second 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 during the last quarter. Renaissance Technologies LLC raised its position in Seanergy Maritime by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 563,500 shares of the shipping company’s stock valued at $5,201,000 after purchasing an additional 3,800 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Seanergy Maritime during the fourth quarter valued at about $41,000. Finally, Bank of America Corp DE grew its holdings in shares of Seanergy Maritime by 5.8% during the first quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company’s stock worth $2,065,000 after purchasing an additional 8,800 shares during the last quarter. Institutional investors and hedge funds own 29.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Zacks Research cut shares of Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 29th. B. Riley Financial increased their price target on shares of Seanergy Maritime from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Seanergy Maritime in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Seanergy Maritime has a consensus rating of “Moderate Buy” and an average price target of $25.00.

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.