Triumph Capital Management Makes New Investment in Seanergy Maritime Holdings Corp $SHIP

Triumph Capital Management acquired a new stake in Seanergy Maritime Holdings Corp (NASDAQ:SHIP) in the third quarter, HoldingsChannel reports. The fund acquired 42,919 shares of the shipping company’s stock, valued at approximately $355,000.

Several other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in shares of Seanergy Maritime by 12.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock worth $150,000 after purchasing an additional 2,713 shares during the last quarter. R Squared Ltd lifted its stake in Seanergy Maritime by 28.0% in the 3rd quarter. R Squared Ltd now owns 24,708 shares of the shipping company’s stock valued at $204,000 after purchasing an additional 5,405 shares during the last quarter. Allworth Financial LP bought a new position in Seanergy Maritime during the third quarter worth about $85,000. Campbell & CO Investment Adviser LLC acquired a new position in Seanergy Maritime during the second quarter worth approximately $90,000. Finally, JPMorgan Chase & Co. increased its position in Seanergy Maritime by 56.2% during the third quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock worth $367,000 after buying an additional 15,991 shares during the last quarter. 29.36% of the stock is currently owned by institutional investors and hedge funds.

Seanergy Maritime Trading Up 3.8%

Shares of SHIP stock opened at $12.84 on Thursday. Seanergy Maritime Holdings Corp has a 12-month low of $4.78 and a 12-month high of $14.93. The company has a market capitalization of $268.36 million, a PE ratio of 12.84 and a beta of 0.83. The firm has a 50 day moving average price of $11.72 and a two-hundred day moving average price of $9.94. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 1.03.

Seanergy Maritime Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Friday, March 27th. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.13. Seanergy Maritime’s payout ratio is 52.00%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SHIP. Wall Street Zen raised Seanergy Maritime from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Zacks Research raised Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Noble Financial restated an “outperform” rating on shares of Seanergy Maritime in a research note on Monday, February 9th. B. Riley Financial raised their price target on Seanergy Maritime from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $17.00.

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.