Triumph Capital Management Invests $355,000 in Seanergy Maritime Holdings Corp $SHIP

Triumph Capital Management acquired a new position in shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 42,919 shares of the shipping company’s stock, valued at approximately $355,000. Triumph Capital Management owned 0.21% of Seanergy Maritime as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in Seanergy Maritime by 12.9% during the 2nd 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 in the last quarter. R Squared Ltd lifted its holdings 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 in the last quarter. Allworth Financial LP acquired a new position in shares of Seanergy Maritime during the third quarter worth about $85,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Seanergy Maritime during the second quarter worth about $90,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Seanergy Maritime by 56.2% during the third quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock worth $367,000 after buying an additional 15,991 shares in the last quarter. 29.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. B. Riley Financial boosted their target price on Seanergy Maritime from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Wall Street Zen raised shares of Seanergy Maritime from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Noble Financial reiterated an “outperform” rating on shares of Seanergy Maritime in a report on Monday, February 9th. Zacks Research upgraded shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Seanergy Maritime currently has an average rating of “Buy” and a consensus target price of $17.00.

Seanergy Maritime Stock Performance

SHIP opened at $12.84 on Thursday. The business’s 50-day simple moving average is $11.72 and its 200 day simple moving average is $9.94. Seanergy Maritime Holdings Corp has a 52-week low of $4.78 and a 52-week high of $14.93. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.37 and a current ratio of 0.39. The firm has a market capitalization of $268.36 million, a PE ratio of 12.84 and a beta of 0.83.

Seanergy Maritime Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, March 27th. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.13. Seanergy Maritime’s payout ratio is currently 52.00%.

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.