Key Points
- Seanergy Maritime insider Stavros Gyftakis sold 2,835 shares at an average price of $17.52, totaling $49,669.20. The sale reduced his ownership by 1.22%, leaving him with 230,340 shares.
- The company reported stronger-than-expected quarterly results, with EPS of $1.32 versus a $1.05 estimate and revenue of $55.69 million. Analysts expect full-year EPS of $3.16.
- Seanergy Maritime increased its quarterly dividend to $0.35 per share, equivalent to a $1.40 annualized payout and an 8.1% yield; analysts maintain a “Moderate Buy” consensus with a $25 average price target.
Seanergy Maritime Holdings Corp (NASDAQ:SHIP - Get Free Report) insider Stavros Gyftakis sold 2,835 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $17.52, for a total transaction of $49,669.20. Following the completion of the sale, the insider directly owned 230,340 shares in the company, valued at $4,035,556.80. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Seanergy Maritime Price Performance
Shares of NASDAQ:SHIP opened at $17.24 on Thursday. Seanergy Maritime Holdings Corp has a 1 year low of $7.66 and a 1 year high of $19.22. The business has a 50 day simple moving average of $17.55 and a two-hundred day simple moving average of $15.75. The firm has a market capitalization of $360.32 million, a PE ratio of 6.03 and a beta of 0.99.
Seanergy Maritime (NASDAQ:SHIP - Get Free Report) last released its earnings results on Thursday, July 30th. The shipping company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.27. Seanergy Maritime had a return on equity of 21.87% and a net margin of 30.68%.The firm had revenue of $55.69 million for the quarter, compared to analysts' expectations of $53.90 million. Equities research analysts expect that Seanergy Maritime Holdings Corp will post 3.16 EPS for the current fiscal year.
Seanergy Maritime Increases Dividend
The firm 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 $0.35 dividend. This is a boost from Seanergy Maritime's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.40 annualized dividend and a yield of 8.1%. Seanergy Maritime's dividend payout ratio is currently 48.95%.
Institutional Trading of Seanergy Maritime
Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in Seanergy Maritime by 15.8% in the first 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 in the last quarter. Bank of America Corp DE raised its position in Seanergy Maritime by 5.8% during the 1st quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company's stock valued at $2,065,000 after purchasing an additional 8,800 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Seanergy Maritime by 26.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 82,557 shares of the shipping company's stock valued at $1,066,000 after purchasing an additional 17,274 shares in the last quarter. R Squared Ltd raised its position in Seanergy Maritime by 59.3% during the 1st quarter. R Squared Ltd now owns 29,062 shares of the shipping company's stock valued at $375,000 after purchasing an additional 10,816 shares in the last quarter. Finally, Navellier & Associates Inc. purchased a new stake in shares of Seanergy Maritime in the 2nd quarter worth $355,000. Institutional investors own 29.36% of the company's stock.
Analyst Ratings Changes
A number of analysts have weighed in on SHIP shares. Weiss Ratings upgraded Seanergy Maritime from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Zacks Research cut shares of Seanergy Maritime from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 29th. Finally, B. Riley Financial raised their price target on shares of Seanergy Maritime from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.00.
Read Our Latest Report on SHIP
About Seanergy Maritime
(
Get Free Report)
Seanergy Maritime Holdings Corp. is a dry bulk shipping company that owns and operates ocean-going vessels, with a primary focus on Capesize ships. These large vessels are used to transport major dry bulk commodities, including iron ore, coal and grain, between ports worldwide.
The company generates revenue by chartering its vessels to international customers through spot-market and period-charter arrangements. Its operations support global commodity supply chains, with vessels serving major trade routes across the Atlantic, Pacific and other international maritime regions.
Seanergy Maritime was established in 2008 and is incorporated in the Marshall Islands, with management operations based in Greece.
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