Seanergy Maritime (NASDAQ:SHIP) Issues Quarterly Earnings Results

Seanergy Maritime (NASDAQ:SHIP) released its earnings results on Thursday. The shipping company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12, Zacks reports. Seanergy Maritime had a return on equity of 8.35% and a net margin of 13.08%.

Seanergy Maritime Stock Down 3.5%

Shares of NASDAQ SHIP traded down $0.52 during trading hours on Thursday, hitting $14.35. 238,209 shares of the stock were exchanged, compared to its average volume of 243,172. The firm has a fifty day moving average price of $14.42 and a 200-day moving average price of $12.02. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.84. Seanergy Maritime has a 12 month low of $6.10 and a 12 month high of $16.81. The company has a market cap of $299.81 million, a PE ratio of 14.49 and a beta of 0.94.

Analyst Upgrades and Downgrades

SHIP has been the topic of several research analyst reports. Noble Financial reaffirmed an “outperform” rating on shares of Seanergy Maritime in a research report on Monday, February 9th. Wall Street Zen raised shares of Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Zacks Research upgraded shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a research note on Friday, March 27th. Finally, B. Riley Financial lifted their price target on shares of Seanergy Maritime from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $17.00.

Insider Activity

In other news, insider Stavros Gyftakis sold 3,570 shares of the business’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 sale, the insider owned 236,295 shares in the company, valued at approximately $3,296,315.25. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Seanergy Maritime

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in shares of Seanergy Maritime by 12.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock valued at $150,000 after acquiring an additional 2,713 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Seanergy Maritime by 0.7% in the 4th quarter. Renaissance Technologies LLC now owns 563,500 shares of the shipping company’s stock worth $5,201,000 after purchasing an additional 3,800 shares during the period. Russell Investments Group Ltd. acquired a new stake in Seanergy Maritime in the 4th quarter valued at $41,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Seanergy Maritime in the fourth quarter valued at approximately $119,000. Finally, Campbell & CO Investment Adviser LLC lifted its stake in shares of Seanergy Maritime by 100.3% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 28,404 shares of the shipping company’s stock worth $262,000 after buying an additional 14,224 shares in the last quarter. Hedge funds and other 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.