Seanergy Maritime (NASDAQ:SHIP) Stock Price Passes Above 200-Day Moving Average of $10.04

Shares of Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.04 and traded as high as $10.35. Seanergy Maritime shares last traded at $10.28, with a volume of 125,765 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SHIP shares. StockNews.com downgraded shares of Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 13th. Noble Financial raised Seanergy Maritime to a “strong-buy” rating in a research note on Tuesday, July 23rd.

Seanergy Maritime Price Performance

The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72. The stock has a market cap of $212.80 million, a PE ratio of 12.85 and a beta of 0.63. The business has a 50-day moving average price of $10.23 and a 200 day moving average price of $10.04.

Seanergy Maritime (NASDAQ:SHIP) last released its quarterly earnings results on Tuesday, August 6th. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.14. Seanergy Maritime had a return on equity of 12.42% and a net margin of 20.12%. The firm had revenue of $43.13 million for the quarter, compared to analysts’ expectations of $40.69 million. During the same quarter last year, the firm posted $0.05 EPS. As a group, research analysts forecast that Seanergy Maritime Holdings Corp. will post 2.1 earnings per share for the current fiscal year.

Seanergy Maritime Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.03. This represents a $1.00 annualized dividend and a yield of 9.73%. Seanergy Maritime’s dividend payout ratio is currently 12.50%.

Institutional Investors Weigh In On Seanergy Maritime

Several institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC purchased a new position in Seanergy Maritime during the second quarter valued at $213,000. Millennium Management LLC boosted its holdings in shares of Seanergy Maritime by 193.6% during the 2nd quarter. Millennium Management LLC now owns 359,347 shares of the shipping company’s stock valued at $3,547,000 after acquiring an additional 236,941 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Seanergy Maritime by 217.9% in the second 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. Marshall Wace LLP boosted its stake in shares of Seanergy Maritime by 316.2% in the 2nd quarter. Marshall Wace LLP now owns 213,503 shares of the shipping company’s stock worth $2,107,000 after buying an additional 162,201 shares during the last quarter. Finally, XTX Topco Ltd grew its stake in shares of Seanergy Maritime by 99.6% during the 2nd quarter. XTX Topco Ltd now owns 38,885 shares of the shipping company’s stock valued at $384,000 after purchasing an additional 19,401 shares during the period. Hedge funds and other institutional investors 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.