Seanergy Maritime (NASDAQ:SHIP) Stock: Insider Stavros Gyftakis Sells 2,835 Shares

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) insider Stavros Gyftakis sold 2,835 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $17.52, for a total value of $49,669.20. Following the transaction, the insider directly owned 230,340 shares of the company’s stock, valued at $4,035,556.80. The trade was a 1.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Seanergy Maritime Stock Up 2.3%

Shares of NASDAQ:SHIP opened at $17.63 on Friday. Seanergy Maritime Holdings Corp has a 52-week low of $7.66 and a 52-week high of $19.22. The stock’s fifty day simple moving average is $17.55 and its 200-day simple moving average is $15.79. The company has a market capitalization of $368.47 million, a P/E ratio of 6.16 and a beta of 0.99.

Seanergy Maritime (NASDAQ:SHIP) last posted its quarterly earnings data on Thursday, July 30th. The shipping company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. The business had revenue of $55.69 million for the quarter, compared to analyst estimates of $53.90 million. Seanergy Maritime had a return on equity of 21.87% and a net margin of 30.68%. On average, sell-side analysts anticipate that Seanergy Maritime Holdings Corp will post 3.16 earnings per share for the current year.

Seanergy Maritime Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be given a $0.35 dividend. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.20. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Friday, September 25th. Seanergy Maritime’s dividend payout ratio (DPR) is presently 48.95%.

Institutional Investors Weigh In On Seanergy Maritime

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in shares of Seanergy Maritime by 15.8% during the 1st quarter. Renaissance Technologies LLC now owns 652,300 shares of the shipping company’s stock valued at $8,421,000 after buying an additional 88,800 shares during the period. Navellier & Associates Inc. purchased a new position in shares of Seanergy Maritime in the 2nd quarter worth $355,000. NewEdge Advisors LLC acquired a new position in Seanergy Maritime in the second quarter valued at $289,000. Arrowstreet Capital Limited Partnership boosted its holdings in Seanergy Maritime by 26.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 82,557 shares of the shipping company’s stock valued at $1,066,000 after acquiring an additional 17,274 shares during the last quarter. Finally, R Squared Ltd grew its position in Seanergy Maritime by 59.3% during the first quarter. R Squared Ltd now owns 29,062 shares of the shipping company’s stock valued at $375,000 after acquiring an additional 10,816 shares during the period. 29.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Zacks Research cut shares of Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Weiss Ratings raised Seanergy Maritime from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, B. Riley Financial raised their price objective on Seanergy Maritime from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.00.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. is a dry bulk shipping company that owns and operates ocean-going vessels, with a primary focus on Capesize ships. These large vessels are used to transport major dry bulk commodities, including iron ore, coal and grain, between ports worldwide.

The company generates revenue by chartering its vessels to international customers through spot-market and period-charter arrangements. Its operations support global commodity supply chains, with vessels serving major trade routes across the Atlantic, Pacific and other international maritime regions.

Seanergy Maritime was established in 2008 and is incorporated in the Marshall Islands, with management operations based in Greece.