Seanergy Maritime (NASDAQ:SHIP) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Seanergy Maritime (NASDAQ:SHIP) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms also recently commented on SHIP. Wall Street Zen raised Seanergy Maritime from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.00.

Seanergy Maritime Stock Down 1.3%

Shares of SHIP stock traded down $0.12 during trading hours on Tuesday, hitting $9.30. 13,088 shares of the company were exchanged, compared to its average volume of 116,064. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.37 and a current ratio of 0.39. Seanergy Maritime has a one year low of $4.78 and a one year high of $11.15. The business’s 50-day simple moving average is $9.61 and its two-hundred day simple moving average is $8.40. The stock has a market capitalization of $194.33 million, a price-to-earnings ratio of 12.71 and a beta of 0.67.

Seanergy Maritime Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Monday, December 29th were given a dividend of $0.13 per share. The ex-dividend date was Monday, December 29th. This represents a $0.52 dividend on an annualized basis and a yield of 5.6%. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.05. Seanergy Maritime’s payout ratio is presently 71.23%.

Institutional Investors Weigh In On Seanergy Maritime

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP acquired a new position in shares of Seanergy Maritime during the third quarter valued at $85,000. Campbell & CO Investment Adviser LLC bought a new stake in Seanergy Maritime in the 2nd quarter valued at about $90,000. Virtu Financial LLC acquired a new position in Seanergy Maritime during the 3rd quarter valued at about $134,000. Centiva Capital LP bought a new position in Seanergy Maritime in the 3rd quarter worth about $139,000. Finally, WMG Financial Advisors LLC acquired a new stake in shares of Seanergy Maritime in the second quarter valued at approximately $109,000. 29.36% of the stock is currently owned by institutional investors.

Seanergy Maritime Company Profile

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.