Seanergy Maritime (NASDAQ:SHIP) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.94 and traded as high as $13.75. Seanergy Maritime shares last traded at $13.34, with a volume of 218,594 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SHIP. Zacks Research downgraded Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th. Wall Street Zen upgraded Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Seanergy Maritime in a research note on Friday, March 27th. Finally, B. Riley Financial boosted their target price on shares of Seanergy Maritime from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Seanergy Maritime Stock Performance

The company has a debt-to-equity ratio of 1.11, a current ratio of 0.85 and a quick ratio of 0.83. The stock has a 50-day moving average price of $15.21 and a 200-day moving average price of $12.97. The firm has a market capitalization of $280.69 million, a PE ratio of 7.50 and a beta of 0.94.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.24. Seanergy Maritime had a return on equity of 14.47% and a net margin of 20.96%.The firm had revenue of $42.85 million during the quarter, compared to the consensus estimate of $42.15 million. On average, research analysts expect that Seanergy Maritime Holdings Corp will post 2.7 EPS for the current fiscal year.

Seanergy Maritime Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 29th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.0%. Seanergy Maritime’s dividend payout ratio (DPR) is presently 44.69%.

Insider Activity

In related news, insider Stavros Gyftakis sold 3,570 shares of Seanergy Maritime stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.95, for a total value of $49,801.50. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Triumph Capital Management acquired a new stake in shares of Seanergy Maritime in the 3rd quarter valued at about $355,000. Campbell & CO Investment Adviser LLC grew its stake in 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 purchasing an additional 14,224 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Seanergy Maritime in the third quarter worth about $345,000. JPMorgan Chase & Co. increased its holdings in Seanergy Maritime by 56.2% in the third quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock valued at $367,000 after buying an additional 15,991 shares during the last quarter. Finally, Engineers Gate Manager LP increased its holdings in Seanergy Maritime by 119.1% in the fourth quarter. Engineers Gate Manager LP now owns 43,949 shares of the shipping company’s stock valued at $406,000 after buying an additional 23,888 shares during the last quarter. 29.36% of the stock is owned by institutional investors and hedge funds.

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.