Seanergy Maritime (NASDAQ:SHIP) Releases Earnings Results, Beats Expectations By $0.12 EPS

Seanergy Maritime (NASDAQ:SHIP) released its quarterly earnings data on Thursday. The shipping company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12, Zacks reports. Seanergy Maritime had a return on equity of 8.35% and a net margin of 13.08%.

Seanergy Maritime Price Performance

SHIP traded down $0.37 on Thursday, reaching $14.49. The stock had a trading volume of 311,599 shares, compared to its average volume of 243,172. The firm has a 50-day moving average of $14.42 and a 200-day moving average of $12.02. Seanergy Maritime has a fifty-two week low of $6.10 and a fifty-two week high of $16.81. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $302.90 million, a price-to-earnings ratio of 14.33 and a beta of 0.94.

Insiders Place Their Bets

In other news, insider Stavros Gyftakis sold 3,570 shares of Seanergy Maritime stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.95, for a total value of $49,801.50. Following the completion of the transaction, the insider directly owned 236,295 shares of the company’s stock, valued at approximately $3,296,315.25. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.70% of the stock is owned by corporate insiders.

Institutional Trading of Seanergy Maritime

Several large investors have recently made changes to their positions in SHIP. Cetera Investment Advisers acquired a new stake in Seanergy Maritime in the 4th quarter valued at $182,000. Squarepoint Ops LLC purchased a new stake in Seanergy Maritime in the 4th quarter valued at about $243,000. Campbell & CO Investment Adviser LLC increased its position in shares of Seanergy Maritime by 100.3% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 28,404 shares of the shipping company’s stock valued at $262,000 after acquiring an additional 14,224 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of Seanergy Maritime during the 3rd quarter valued at $355,000. Finally, Bank of America Corp DE increased its holdings in Seanergy Maritime by 23,120.0% during the third quarter. Bank of America Corp DE now owns 23,220 shares of the shipping company’s stock worth $192,000 after buying an additional 23,120 shares during the last quarter. 29.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on SHIP. B. Riley Financial lifted their target price on Seanergy Maritime from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Wall Street Zen raised shares of Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research 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. Zacks Research upgraded shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Noble Financial restated an “outperform” rating on shares of Seanergy Maritime in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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.