Key Points
- Insider Stavros Gyftakis sold 3,570 shares of Seanergy (NASDAQ:SHIP) on April 6 at an average price of $13.95 for $49,801.50, trimming his stake by 1.49% to 236,295 shares (≈$3.30M).
- Seanergy raised its quarterly dividend to $0.20 (annualized $0.80), up from $0.13, implying a 5.7% yield with an ex-dividend/record date in late March/early April.
- Analyst sentiment has turned positive with an average "Buy" rating and a $17.00 target, following upgrades from firms including Zacks, B. Riley and Wall Street Zen.
Seanergy Maritime Holdings Corp (NASDAQ:SHIP - Get Free Report) insider Stavros Gyftakis sold 3,570 shares of the business's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $13.95, for a total transaction of $49,801.50. Following the completion of the transaction, the insider owned 236,295 shares in the company, valued at $3,296,315.25. This represents a 1.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Seanergy Maritime Price Performance
Shares of SHIP stock opened at $13.98 on Thursday. Seanergy Maritime Holdings Corp has a 12 month low of $4.88 and a 12 month high of $14.93. The firm has a market capitalization of $292.18 million, a P/E ratio of 13.98 and a beta of 0.89. The company's fifty day moving average price is $12.74 and its two-hundred day moving average price is $10.42.
Seanergy Maritime Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $0.20 dividend. The ex-dividend date is Friday, March 27th. This represents a $0.80 dividend on an annualized basis and a yield of 5.7%. This is an increase from Seanergy Maritime's previous quarterly dividend of $0.13. Seanergy Maritime's dividend payout ratio (DPR) is presently 80.00%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on SHIP shares. Zacks Research upgraded shares of Seanergy Maritime from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 11th. B. Riley Financial upped their target price on shares of Seanergy Maritime from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. Noble Financial restated an "outperform" rating on shares of Seanergy Maritime in a research note on Monday, February 9th. Weiss Ratings restated a "hold (c-)" rating on shares of Seanergy Maritime in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Seanergy Maritime from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $17.00.
View Our Latest Stock Report on SHIP
Institutional Investors Weigh In On Seanergy Maritime
A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in shares of Seanergy Maritime by 12.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company's stock valued at $150,000 after purchasing an additional 2,713 shares in the last quarter. Renaissance Technologies LLC raised its stake in Seanergy Maritime by 0.7% during the fourth quarter. Renaissance Technologies LLC now owns 563,500 shares of the shipping company's stock worth $5,201,000 after acquiring an additional 3,800 shares during the period. Russell Investments Group Ltd. acquired a new stake in Seanergy Maritime during the fourth quarter worth about $41,000. R Squared Ltd raised its stake in Seanergy Maritime by 28.0% during the third quarter. R Squared Ltd now owns 24,708 shares of the shipping company's stock worth $204,000 after acquiring an additional 5,405 shares during the period. Finally, Allworth Financial LP acquired a new stake in Seanergy Maritime during the third quarter worth about $85,000. Institutional investors and hedge funds own 29.36% of the company's stock.
About Seanergy Maritime
(
Get Free Report)
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.
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