CIBC World Markets Inc. Invests $4.41 Million in SEASPAN Corp/SH SH (SSW)
CIBC World Markets Inc. acquired a new stake in SEASPAN Corp/SH SH (NYSE:SSW) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 432,803 shares of the shipping company’s stock, valued at approximately $4,406,000. CIBC World Markets Inc. owned approximately 0.35% of SEASPAN Corp/SH SH as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in SSW. BlackRock Inc. boosted its stake in shares of SEASPAN Corp/SH SH by 566.5% in the 1st quarter. BlackRock Inc. now owns 2,282,682 shares of the shipping company’s stock valued at $15,248,000 after purchasing an additional 1,940,170 shares in the last quarter. Millennium Management LLC boosted its stake in shares of SEASPAN Corp/SH SH by 1,741.5% in the 1st quarter. Millennium Management LLC now owns 1,149,747 shares of the shipping company’s stock valued at $7,680,000 after purchasing an additional 1,087,311 shares in the last quarter. Pecaut & CO. purchased a new stake in shares of SEASPAN Corp/SH SH in the 2nd quarter valued at $3,526,000. Wells Fargo & Company MN boosted its stake in shares of SEASPAN Corp/SH SH by 679.2% in the 1st quarter. Wells Fargo & Company MN now owns 368,466 shares of the shipping company’s stock valued at $2,461,000 after purchasing an additional 321,177 shares in the last quarter. Finally, Thornburg Investment Management Inc. purchased a new stake in shares of SEASPAN Corp/SH SH in the 1st quarter valued at $1,240,000. 12.44% of the stock is owned by institutional investors.
NYSE:SSW opened at $8.90 on Monday. SEASPAN Corp/SH SH has a 52 week low of $5.50 and a 52 week high of $10.72. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market cap of $1.05 billion, a P/E ratio of 13.48, a PEG ratio of 0.45 and a beta of 0.35.
The company also recently declared a quarterly dividend, which was paid on Monday, July 30th. Investors of record on Tuesday, July 10th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, July 9th. This represents a $0.50 dividend on an annualized basis and a yield of 5.62%. SEASPAN Corp/SH SH’s dividend payout ratio is currently 75.76%.
A number of brokerages have recently issued reports on SSW. ValuEngine raised shares of SEASPAN Corp/SH SH from a “hold” rating to a “buy” rating in a research note on Friday, June 29th. Zacks Investment Research raised shares of SEASPAN Corp/SH SH from a “strong sell” rating to a “hold” rating in a research note on Friday, August 10th. Bank of America raised shares of SEASPAN Corp/SH SH from an “underperform” rating to a “buy” rating in a research note on Thursday, May 3rd. Finally, Citigroup upped their price objective on shares of SEASPAN Corp/SH SH from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Friday, May 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $10.53.
About SEASPAN Corp/SH SH
Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships under long-term, fixed-rate time charters to various container liner companies. As of February 15, 2018, it operated a fleet of 91 containerships. The company was founded in 2005 and is based in Central, Hong Kong.
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