Renaissance Technologies LLC Boosts Stock Position in Seanergy Maritime Holdings Corp $SHIP

Renaissance Technologies LLC raised its holdings in Seanergy Maritime Holdings Corp (NASDAQ:SHIP) by 15.8% during the first quarter, Holdings Channel reports. The institutional investor owned 652,300 shares of the shipping company’s stock after buying an additional 88,800 shares during the period. Renaissance Technologies LLC’s holdings in Seanergy Maritime were worth $8,421,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Walleye Capital LLC boosted its position in shares of Seanergy Maritime by 674.4% during the 4th quarter. Walleye Capital LLC now owns 294,523 shares of the shipping company’s stock worth $2,718,000 after acquiring an additional 256,492 shares in the last quarter. Millennium Management LLC lifted its stake in Seanergy Maritime by 400.8% during the fourth quarter. Millennium Management LLC now owns 293,220 shares of the shipping company’s stock worth $2,706,000 after purchasing an additional 234,672 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Seanergy Maritime by 235.9% in the 4th quarter. Jane Street Group LLC now owns 100,363 shares of the shipping company’s stock valued at $926,000 after buying an additional 70,481 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Seanergy Maritime by 512.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company’s stock valued at $546,000 after acquiring an additional 72,423 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings in shares of Seanergy Maritime by 115.9% in the 4th quarter. Jump Financial LLC now owns 75,555 shares of the shipping company’s stock valued at $697,000 after purchasing an additional 40,555 shares during the last quarter. 29.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Seanergy Maritime Trading Up 3.9%

NASDAQ SHIP opened at $18.17 on Tuesday. 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 capitalization of $379.75 million, a P/E ratio of 6.35 and a beta of 0.92. Seanergy Maritime Holdings Corp has a 52-week low of $6.76 and a 52-week high of $18.48. The firm has a 50-day moving average price of $15.18 and a 200 day moving average price of $13.89.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.24. Seanergy Maritime had a return on equity of 22.51% and a net margin of 30.68%.The company had revenue of $42.85 million for the quarter, compared to analyst estimates of $42.15 million. Equities research analysts expect that Seanergy Maritime Holdings Corp will post 2.87 EPS for the current year.

Seanergy Maritime Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.7%. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, September 25th. Seanergy Maritime’s dividend payout ratio (DPR) is presently 27.97%.

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.