Seanergy Maritime (NASDAQ:SHIP) Director Christina Anagnostara Sells 15,000 Shares of Stock

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) Director Christina Anagnostara sold 15,000 shares of Seanergy Maritime stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $17.19, for a total transaction of $257,850.00. Following the completion of the sale, the director directly owned 178,239 shares of the company’s stock, valued at approximately $3,063,928.41. The trade was a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Seanergy Maritime Stock Performance

Shares of SHIP stock traded down $0.38 during trading on Friday, reaching $16.86. The company had a trading volume of 220,301 shares, compared to its average volume of 247,979. Seanergy Maritime Holdings Corp has a one year low of $7.21 and a one year high of $18.48. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.85 and a quick ratio of 0.83. The firm’s 50 day simple moving average is $15.32 and its two-hundred day simple moving average is $14.06. The company has a market capitalization of $352.37 million, a PE ratio of 5.90 and a beta of 0.92.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings data on Thursday, July 30th. The shipping company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. Seanergy Maritime had a net margin of 30.68% and a return on equity of 22.51%. The business had revenue of $55.69 million during the quarter, compared to analysts’ expectations of $53.90 million. Sell-side analysts forecast that Seanergy Maritime Holdings Corp will post 2.87 earnings per share for the current year.

Seanergy Maritime Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.40 annualized dividend and a dividend yield of 8.3%. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.20. Seanergy Maritime’s payout ratio is presently 27.97%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its position in shares of Seanergy Maritime by 15.8% during the 1st quarter. Renaissance Technologies LLC now owns 652,300 shares of the shipping company’s stock worth $8,421,000 after buying an additional 88,800 shares during the period. Walleye Capital LLC boosted its position in Seanergy Maritime by 674.4% in the fourth quarter. Walleye Capital LLC now owns 294,523 shares of the shipping company’s stock valued at $2,718,000 after buying an additional 256,492 shares in the last quarter. Millennium Management LLC grew its stake in Seanergy Maritime by 400.8% during the fourth quarter. Millennium Management LLC now owns 293,220 shares of the shipping company’s stock worth $2,706,000 after buying an additional 234,672 shares during the last quarter. Bank of America Corp DE grew its stake in Seanergy Maritime by 5.8% during the first quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company’s stock worth $2,065,000 after buying an additional 8,800 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Seanergy Maritime by 235.9% during the fourth quarter. Jane Street Group LLC now owns 100,363 shares of the shipping company’s stock worth $926,000 after buying an additional 70,481 shares in the last quarter. Institutional investors own 29.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SHIP. B. Riley Financial raised their price objective on shares of Seanergy Maritime from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Zacks Research lowered shares of Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Seanergy Maritime in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Seanergy Maritime currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

About Seanergy Maritime

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.