Seanergy Maritime (NASDAQ:SHIP) Shares Pass Above 200-Day Moving Average – Should You Sell?

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.79 and traded as high as $15.40. Seanergy Maritime shares last traded at $15.24, with a volume of 147,260 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SHIP. Zacks Research downgraded Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. B. Riley Financial increased their price objective on shares of Seanergy Maritime from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Wall Street Zen upgraded shares of Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 4th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Seanergy Maritime Price Performance

The company has a debt-to-equity ratio of 1.11, a current ratio of 0.85 and a quick ratio of 0.83. The company has a 50-day moving average price of $15.31 and a 200-day moving average price of $12.82. The firm has a market capitalization of $299.11 million, a PE ratio of 7.99 and a beta of 0.92.

Seanergy Maritime (NASDAQ:SHIP) last posted its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.24. Seanergy Maritime had a return on equity of 14.47% and a net margin of 20.96%.The business had revenue of $42.85 million for the quarter, compared to analyst estimates of $42.15 million. Sell-side analysts forecast that Seanergy Maritime Holdings Corp will post 2.7 EPS for the current year.

Seanergy Maritime Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 29th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Monday, June 29th. Seanergy Maritime’s dividend payout ratio (DPR) is currently 44.69%.

Insider Activity at Seanergy Maritime

In other news, insider Stavros Gyftakis sold 3,570 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $13.95, for a total value of $49,801.50. Following the completion of the transaction, the insider owned 236,295 shares of the company’s stock, valued at $3,296,315.25. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.70% of the stock is currently owned by company insiders.

Institutional Trading of Seanergy Maritime

Hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers raised its holdings in Seanergy Maritime by 4.2% in the 1st quarter. Cetera Investment Advisers now owns 20,504 shares of the shipping company’s stock valued at $265,000 after acquiring an additional 829 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Seanergy Maritime by 12.9% during the second 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. Renaissance Technologies LLC boosted its holdings in shares of 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 purchasing an additional 3,800 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Seanergy Maritime in the fourth quarter valued at $41,000. Finally, R Squared Ltd grew its position in shares of Seanergy Maritime by 28.0% in the third 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 period. Institutional investors and hedge funds own 29.36% of the company’s stock.

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.