Seanergy Maritime (NASDAQ:SHIP) Lowered to Buy Rating by StockNews.com

StockNews.com lowered shares of Seanergy Maritime (NASDAQ:SHIP) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

Separately, Noble Financial raised shares of Seanergy Maritime to a “strong-buy” rating in a research note on Tuesday, July 23rd.

Seanergy Maritime Trading Down 0.3 %

Shares of NASDAQ:SHIP opened at $9.11 on Wednesday. The company has a market cap of $188.57 million, a P/E ratio of 3.89 and a beta of 0.65. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.52. Seanergy Maritime has a 1 year low of $5.07 and a 1 year high of $13.19. The stock’s fifty day moving average price is $10.57 and its 200-day moving average price is $10.63.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings results on Tuesday, November 5th. The shipping company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. Seanergy Maritime had a return on equity of 19.01% and a net margin of 28.37%. The business had revenue of $44.36 million during the quarter, compared to analysts’ expectations of $42.10 million. During the same quarter in the prior year, the business posted ($0.28) earnings per share. Sell-side analysts expect that Seanergy Maritime will post 2.1 earnings per share for the current year.

Seanergy Maritime Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, December 27th. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 11.42%. Seanergy Maritime’s dividend payout ratio (DPR) is currently 44.44%.

Institutional Investors Weigh In On Seanergy Maritime

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its stake in Seanergy Maritime by 1,009.6% in the 2nd quarter. Acadian Asset Management LLC now owns 384,373 shares of the shipping company’s stock valued at $3,782,000 after acquiring an additional 349,733 shares during the period. Millennium Management LLC boosted its stake in Seanergy Maritime by 193.6% during the 2nd quarter. Millennium Management LLC now owns 359,347 shares of the shipping company’s stock worth $3,547,000 after purchasing an additional 236,941 shares during the last quarter. Marshall Wace LLP boosted its stake in Seanergy Maritime by 316.2% during the 2nd quarter. Marshall Wace LLP now owns 213,503 shares of the shipping company’s stock worth $2,107,000 after purchasing an additional 162,201 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Seanergy Maritime by 33.2% during the 2nd quarter. Renaissance Technologies LLC now owns 635,600 shares of the shipping company’s stock worth $6,273,000 after purchasing an additional 158,400 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Seanergy Maritime by 217.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 126,976 shares of the shipping company’s stock worth $1,253,000 after purchasing an additional 87,028 shares during the last quarter. Institutional investors and hedge funds own 29.36% of the company’s stock.

Seanergy Maritime Company Profile

Seanergy Maritime Holdings Corp., a shipping company, provides seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 16 Capesize dry bulk vessels and one Newcastlemax dry bulk vessel with a cargo-carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp.