Seanergy Maritime (NASDAQ:SHIP) Stock Crosses Above 200 Day Moving Average – Here’s Why

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.86 and traded as high as $17.97. Seanergy Maritime shares last traded at $17.66, with a volume of 289,830 shares.

Wall Street Analysts Forecast Growth

SHIP has been the topic of several research reports. Weiss Ratings upgraded shares of Seanergy Maritime from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. B. Riley Financial lifted their target price on Seanergy Maritime from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Zacks Research upgraded shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $25.00.

Seanergy Maritime Stock Up 3.4%

The stock has a market capitalization of $389.26 million, a PE ratio of 6.51 and a beta of 0.89. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.83 and a current ratio of 0.85. The stock’s 50-day moving average price is $15.89 and its two-hundred day moving average price is $14.91.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings data on Thursday, July 30th. The shipping company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.27. Seanergy Maritime had a net margin of 30.68% and a return on equity of 21.87%. The business had revenue of $55.69 million during the quarter, compared to the consensus estimate of $53.90 million. As a group, analysts expect that Seanergy Maritime Holdings Corp will post 3.16 EPS for the current fiscal year.

Seanergy Maritime Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be issued a $0.35 dividend. 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 7.5%. The ex-dividend date is Friday, September 25th. Seanergy Maritime’s dividend payout ratio is presently 27.97%.

Insider Activity

In other news, Director Christina Anagnostara sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $17.19, for a total value of $257,850.00. Following the completion of the sale, the director owned 178,239 shares of the company’s stock, valued at $3,063,928.41. This trade represents a 7.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.70% of the company’s stock.

Institutional Trading of Seanergy Maritime

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in Seanergy Maritime by 15.8% in the 1st quarter. Renaissance Technologies LLC now owns 652,300 shares of the shipping company’s stock worth $8,421,000 after acquiring an additional 88,800 shares during the last quarter. Walleye Capital LLC lifted its position in Seanergy Maritime by 674.4% during the 4th quarter. Walleye Capital LLC now owns 294,523 shares of the shipping company’s stock worth $2,718,000 after acquiring an additional 256,492 shares during the period. Millennium Management LLC grew its stake in Seanergy Maritime by 400.8% during the 4th quarter. Millennium Management LLC now owns 293,220 shares of the shipping company’s stock valued at $2,706,000 after purchasing an additional 234,672 shares during the last quarter. Bank of America Corp DE increased its holdings 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 valued at $2,065,000 after purchasing an additional 8,800 shares during the period. Finally, Jane Street Group LLC raised 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 purchasing an additional 70,481 shares during the last quarter. Hedge funds and other institutional investors own 29.36% of the company’s stock.

Seanergy Maritime Company Profile

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.