Seanergy Maritime (NASDAQ:SHIP) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Seanergy Maritime Holdings Corp (NASDAQ:SHIP)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.32 and traded as high as $15.67. Seanergy Maritime shares last traded at $15.45, with a volume of 151,905 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 4th. B. Riley Financial upped their target price on Seanergy Maritime from $17.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 29th. Noble Financial restated an “outperform” rating on shares of Seanergy Maritime in a report on Monday, February 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Seanergy Maritime in a report on Friday, March 27th. Finally, Zacks Research downgraded Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Seanergy Maritime Price Performance

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 company has a market capitalization of $322.91 million, a PE ratio of 8.63 and a beta of 0.92. The firm has a 50-day moving average of $14.82 and a 200 day moving average of $12.32.

Seanergy Maritime (NASDAQ:SHIP) last released its quarterly earnings data on Thursday, May 28th. The shipping company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.39 by $0.24. The company had revenue of $42.85 million for the quarter, compared to analysts’ expectations of $42.15 million. Seanergy Maritime had a return on equity of 14.47% and a net margin of 20.96%. As a group, research analysts anticipate that Seanergy Maritime Holdings Corp will post 2.31 earnings per share for the current fiscal year.

Seanergy Maritime Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 29th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Monday, June 29th. Seanergy Maritime’s dividend payout ratio is currently 44.69%.

Insider Buying and Selling

In related news, insider Stavros Gyftakis sold 3,570 shares of Seanergy Maritime stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $13.95, for a total transaction of $49,801.50. Following the transaction, the insider owned 236,295 shares in the company, valued at approximately $3,296,315.25. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.70% of the company’s stock.

Institutional Trading of Seanergy Maritime

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in Seanergy Maritime by 5.8% during the 1st quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company’s stock worth $2,065,000 after purchasing an additional 8,800 shares during the period. Renaissance Technologies LLC raised its position in Seanergy Maritime by 15.8% in the first quarter. Renaissance Technologies LLC now owns 652,300 shares of the shipping company’s stock valued at $8,421,000 after purchasing an additional 88,800 shares during the period. Arrowstreet Capital Limited Partnership raised 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 valued at $1,066,000 after purchasing an additional 17,274 shares during the period. Cetera Investment Advisers raised its position in 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 purchasing an additional 829 shares during the period. Finally, R Squared Ltd increased its position in shares of 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 last quarter. 29.36% of the stock is owned by hedge funds and other institutional investors.

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.