Key Points
- Director Christina Anagnostara sold 15,000 Seanergy Maritime shares at an average price of $17.19, generating $257,850 and reducing her stake by 7.76% to 178,239 shares.
- Seanergy Maritime reported quarterly EPS of $1.32, beating estimates by $0.27, while revenue reached $55.69 million. The company also raised its quarterly dividend to $0.35 per share, implying an annualized yield of 8.3%.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $25.00; the stock opened at $16.86 and recently traded between $7.21 and $18.48 over the past year.
Seanergy Maritime Holdings Corp (NASDAQ:SHIP - Get Free Report) Director Christina Anagnostara sold 15,000 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $17.19, for a total transaction of $257,850.00. Following the completion of the transaction, the director owned 178,239 shares of the company's stock, valued at approximately $3,063,928.41. This trade represents a 7.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Seanergy Maritime Stock Performance
NASDAQ SHIP opened at $16.86 on Friday. The stock has a market capitalization of $352.41 million, a price-to-earnings ratio of 5.90 and a beta of 0.92. The stock has a 50-day moving average of $15.35 and a 200 day moving average of $14.08. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. Seanergy Maritime Holdings Corp has a twelve month low of $7.21 and a twelve month high of $18.48.
Seanergy Maritime (NASDAQ:SHIP - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The shipping company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.27. The business had revenue of $55.69 million during the quarter, compared to analysts' expectations of $53.90 million. Seanergy Maritime had a return on equity of 22.51% and a net margin of 30.68%. Sell-side analysts anticipate that Seanergy Maritime Holdings Corp will post 2.87 EPS for the current fiscal year.
Seanergy Maritime Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be given a dividend of $0.35 per share. This is a boost from Seanergy Maritime's previous quarterly dividend of $0.20. This represents a $1.40 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date is Friday, September 25th. Seanergy Maritime's dividend payout ratio (DPR) is currently 48.95%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on SHIP shares. Weiss Ratings reissued a "hold (c)" rating on shares of Seanergy Maritime in a research note on Wednesday, July 8th. B. Riley Financial lifted their price objective on Seanergy Maritime from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, Zacks Research lowered Seanergy Maritime from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Seanergy Maritime currently has an average rating of "Moderate Buy" and an average price target of $25.00.
Get Our Latest Stock Analysis on Seanergy Maritime
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in Seanergy Maritime by 15.8% during the 1st quarter. Renaissance Technologies LLC now owns 652,300 shares of the shipping company's stock worth $8,421,000 after purchasing an additional 88,800 shares during the last quarter. Walleye Capital LLC raised its position in shares of Seanergy Maritime by 674.4% in the fourth quarter. Walleye Capital LLC now owns 294,523 shares of the shipping company's stock valued at $2,718,000 after buying an additional 256,492 shares during the last quarter. Millennium Management LLC raised its position in shares of Seanergy Maritime by 400.8% in the fourth quarter. Millennium Management LLC now owns 293,220 shares of the shipping company's stock valued at $2,706,000 after buying an additional 234,672 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Seanergy Maritime by 5.8% in the first quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company's stock worth $2,065,000 after buying an additional 8,800 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Seanergy Maritime by 235.9% in the fourth quarter. Jane Street Group LLC now owns 100,363 shares of the shipping company's stock worth $926,000 after buying an additional 70,481 shares in the last quarter. Hedge funds and other institutional investors own 29.36% of the company's stock.
Seanergy Maritime Company Profile
(
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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