Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Sees Significant Drop in Short Interest

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 237,800 shares, a decrease of 21.8% from the October 31st total of 304,100 shares. Based on an average daily trading volume, of 252,300 shares, the short-interest ratio is currently 0.9 days. Currently, 1.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 13th.

Institutional Investors Weigh In On Seanergy Maritime

Several institutional investors have recently bought and sold shares of SHIP. Millennium Management LLC increased its stake in Seanergy Maritime by 193.6% in the 2nd quarter. Millennium Management LLC now owns 359,347 shares of the shipping company’s stock valued at $3,547,000 after buying an additional 236,941 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Seanergy Maritime by 217.9% in the second quarter. Cubist Systematic Strategies LLC now owns 126,976 shares of the shipping company’s stock valued at $1,253,000 after acquiring an additional 87,028 shares during the last quarter. Marshall Wace LLP raised its holdings in Seanergy Maritime by 316.2% during the second quarter. Marshall Wace LLP now owns 213,503 shares of the shipping company’s stock worth $2,107,000 after acquiring an additional 162,201 shares in the last quarter. Renaissance Technologies LLC boosted its position in Seanergy Maritime by 33.2% during the second quarter. Renaissance Technologies LLC now owns 635,600 shares of the shipping company’s stock valued at $6,273,000 after purchasing an additional 158,400 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in Seanergy Maritime by 1,009.6% in the second quarter. Acadian Asset Management LLC now owns 384,373 shares of the shipping company’s stock valued at $3,782,000 after purchasing an additional 349,733 shares in the last quarter. Institutional investors own 29.36% of the company’s stock.

Seanergy Maritime Trading Down 0.6 %

Shares of SHIP stock traded down $0.05 on Friday, hitting $8.08. The stock had a trading volume of 142,929 shares, compared to its average volume of 307,842. The company has a current ratio of 1.99, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72. Seanergy Maritime has a twelve month low of $6.54 and a twelve month high of $13.19. The company has a fifty day moving average price of $10.07 and a two-hundred day moving average price of $10.50. The firm has a market cap of $167.26 million, a P/E ratio of 3.45 and a beta of 0.65.

Seanergy Maritime (NASDAQ:SHIP) last announced its earnings results on Tuesday, November 5th. The shipping company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.54 by $0.07. The firm had revenue of $44.36 million for the quarter, compared to the consensus estimate of $42.10 million. Seanergy Maritime had a net margin of 28.37% and a return on equity of 19.01%. During the same period last year, the company posted ($0.28) EPS. As a group, analysts forecast that Seanergy Maritime will post 2.1 earnings per share for the current fiscal year.

Seanergy Maritime Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.26 dividend. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.04 annualized dividend and a dividend yield of 12.87%. Seanergy Maritime’s dividend payout ratio (DPR) is currently 42.74%.

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.