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

Shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.94 and traded as high as $13.75. Seanergy Maritime shares last traded at $13.34, with a volume of 218,594 shares.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SHIP shares. Zacks Research cut shares of Seanergy Maritime from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Friday, March 27th. Wall Street Zen upgraded Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 4th. Finally, B. Riley Financial increased 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. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Seanergy Maritime Price Performance

The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 1.11. The firm’s fifty day moving average price is $15.22 and its 200-day moving average price is $12.94. The stock has a market cap of $278.81 million, a P/E ratio of 7.45 and a beta of 0.94.

Seanergy Maritime (NASDAQ:SHIP) last posted its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.24. The company had revenue of $42.85 million during the quarter, compared to analyst estimates of $42.15 million. Seanergy Maritime had a net margin of 20.96% and a return on equity of 14.47%. Analysts forecast that Seanergy Maritime Holdings Corp will post 2.7 earnings per share for the current year.

Seanergy Maritime Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 29th will be given a $0.20 dividend. The ex-dividend date is Monday, June 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.0%. Seanergy Maritime’s payout ratio is presently 44.69%.

Insider Activity at Seanergy Maritime

In other news, insider Stavros Gyftakis sold 3,570 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.95, for a total transaction of $49,801.50. Following the completion of the transaction, the insider directly owned 236,295 shares of the company’s stock, valued at approximately $3,296,315.25. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Seanergy Maritime

Several institutional investors and hedge funds have recently bought and sold shares of SHIP. Cetera Investment Advisers increased its stake in shares of Seanergy Maritime by 4.2% during the first quarter. Cetera Investment Advisers now owns 20,504 shares of the shipping company’s stock valued at $265,000 after buying an additional 829 shares during the period. BNP Paribas Financial Markets lifted its stake in Seanergy Maritime by 12.9% in the second quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock worth $150,000 after acquiring an additional 2,713 shares during the period. Renaissance Technologies LLC lifted its stake in Seanergy Maritime by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 563,500 shares of the shipping company’s stock worth $5,201,000 after acquiring an additional 3,800 shares during the period. Russell Investments Group Ltd. bought a new stake in Seanergy Maritime in the fourth quarter valued at $41,000. Finally, Bank of America Corp DE boosted its holdings in Seanergy Maritime by 5.8% in the first quarter. Bank of America Corp DE now owns 159,972 shares of the shipping company’s stock valued at $2,065,000 after acquiring an additional 8,800 shares in the last quarter. Hedge funds and other institutional investors own 29.36% of the company’s stock.

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.