Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Short Interest Down 19.1% in September

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 300,200 shares, a drop of 19.1% from the August 31st total of 371,100 shares. Based on an average trading volume of 203,300 shares, the days-to-cover ratio is currently 1.5 days. Approximately 2.3% of the company’s stock are sold short.

Hedge Funds Weigh In On Seanergy Maritime

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd bought a new position in Seanergy Maritime during the fourth quarter valued at about $290,000. Acadian Asset Management LLC bought a new position in Seanergy Maritime in the first quarter worth $300,000. XTX Topco Ltd boosted its stake in Seanergy Maritime by 99.6% during the second quarter. XTX Topco Ltd now owns 38,885 shares of the shipping company’s stock worth $384,000 after buying an additional 19,401 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Seanergy Maritime by 33.2% in the 2nd quarter. Renaissance Technologies LLC now owns 635,600 shares of the shipping company’s stock valued at $6,273,000 after buying an additional 158,400 shares during the period. Finally, ORG Partners LLC acquired a new position in shares of Seanergy Maritime in the 2nd quarter valued at $191,000. Institutional investors own 29.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SHIP shares. StockNews.com cut shares of Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 13th. Noble Financial upgraded Seanergy Maritime to a “strong-buy” rating in a report on Tuesday, July 23rd.

Seanergy Maritime Stock Performance

SHIP traded down $0.52 during trading on Friday, hitting $12.08. The stock had a trading volume of 259,765 shares, compared to its average volume of 245,170. The firm has a market cap of $250.06 million, a PE ratio of 15.74 and a beta of 0.64. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72. Seanergy Maritime has a 12 month low of $4.87 and a 12 month high of $13.19. The company has a 50 day simple moving average of $10.51 and a 200-day simple moving average of $10.27.

Seanergy Maritime (NASDAQ:SHIP) last posted its quarterly earnings data on Tuesday, August 6th. The shipping company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.14. Seanergy Maritime had a return on equity of 12.42% and a net margin of 20.12%. The business had revenue of $43.13 million for the quarter, compared to analyst estimates of $40.69 million. During the same period in the previous year, the company posted $0.05 earnings per share. Analysts expect that Seanergy Maritime will post 2.1 EPS for the current year.

Seanergy Maritime Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 27th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.28%. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, September 27th. Seanergy Maritime’s dividend payout ratio is currently 12.50%.

About Seanergy Maritime

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.