Seanergy Maritime (NASDAQ:SHIP) Insider Stavros Gyftakis Sells 2,835 Shares of Stock

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) insider Stavros Gyftakis sold 2,835 shares of the firm’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $17.52, for a total transaction of $49,669.20. Following the completion of the transaction, the insider directly owned 230,340 shares in the company, valued at $4,035,556.80. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Seanergy Maritime Price Performance

Shares of NASDAQ:SHIP traded down $0.26 during midday trading on Wednesday, hitting $17.24. 189,789 shares of the company’s stock were exchanged, compared to its average volume of 280,860. The stock has a 50 day moving average price of $17.53 and a 200-day moving average price of $15.72. The company has a market cap of $360.35 million, a PE ratio of 6.03 and a beta of 0.99. Seanergy Maritime Holdings Corp has a 12 month low of $7.66 and a 12 month high of $19.22.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings results on Thursday, July 30th. The shipping company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.27. The business had revenue of $55.69 million for the quarter, compared to analysts’ expectations of $53.90 million. Seanergy Maritime had a net margin of 30.68% and a return on equity of 21.87%. On average, analysts anticipate that Seanergy Maritime Holdings Corp will post 3.16 EPS for the current fiscal year.

Seanergy Maritime Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 8.1%. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, September 25th. Seanergy Maritime’s dividend payout ratio (DPR) is currently 48.95%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SHIP. Weiss Ratings raised Seanergy Maritime from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Zacks Research cut Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Finally, B. Riley Financial lifted their price objective on shares of Seanergy Maritime from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Hedge Funds Weigh In On Seanergy Maritime

Several hedge funds have recently modified their holdings of the company. Cetera Investment Advisers grew its holdings in shares of Seanergy Maritime by 4.2% in the first quarter. Cetera Investment Advisers now owns 20,504 shares of the shipping company’s stock valued at $265,000 after acquiring an additional 829 shares in the last quarter. Bank of America Corp DE lifted its holdings 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 acquiring an additional 8,800 shares during the period. R Squared Ltd lifted its holdings in Seanergy Maritime by 59.3% during the first quarter. R Squared Ltd now owns 29,062 shares of the shipping company’s stock worth $375,000 after acquiring an additional 10,816 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Seanergy Maritime by 26.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 82,557 shares of the shipping company’s stock worth $1,066,000 after purchasing an additional 17,274 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new position in Seanergy Maritime in the second quarter worth $289,000. Institutional investors own 29.36% of the company’s stock.

Seanergy Maritime Company Profile

Seanergy Maritime Holdings Corp. is a dry bulk shipping company that owns and operates ocean-going vessels, with a primary focus on Capesize ships. These large vessels are used to transport major dry bulk commodities, including iron ore, coal and grain, between ports worldwide.

The company generates revenue by chartering its vessels to international customers through spot-market and period-charter arrangements. Its operations support global commodity supply chains, with vessels serving major trade routes across the Atlantic, Pacific and other international maritime regions.

Seanergy Maritime was established in 2008 and is incorporated in the Marshall Islands, with management operations based in Greece.