Seanergy Maritime (NASDAQ:SHIP) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Seanergy Maritime (NASDAQ:SHIP) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

SHIP has been the topic of a number of other research reports. Noble Financial reaffirmed an “outperform” rating on shares of Seanergy Maritime in a research note on Monday, February 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a research note on Friday, March 27th. Zacks Research raised shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, B. Riley Financial lifted their price target on shares of Seanergy Maritime from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $17.00.

Seanergy Maritime Stock Performance

SHIP stock opened at $14.00 on Friday. The stock’s 50 day moving average price is $12.52 and its 200 day moving average price is $10.32. The firm has a market cap of $292.63 million, a P/E ratio of 14.00 and a beta of 0.89. Seanergy Maritime has a 1 year low of $4.78 and a 1 year high of $14.93.

Seanergy Maritime Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be given a $0.20 dividend. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.13. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, March 27th. Seanergy Maritime’s dividend payout ratio (DPR) is presently 80.00%.

Hedge Funds Weigh In On Seanergy Maritime

Several large investors have recently added to or reduced their stakes in SHIP. BNP Paribas Financial Markets boosted its stake in Seanergy Maritime by 12.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock worth $150,000 after buying an additional 2,713 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Seanergy Maritime by 0.7% during the 4th quarter. Renaissance Technologies LLC now owns 563,500 shares of the shipping company’s stock valued at $5,201,000 after acquiring an additional 3,800 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Seanergy Maritime during the 4th quarter valued at about $41,000. R Squared Ltd lifted its holdings in shares of Seanergy Maritime by 28.0% during the 3rd quarter. R Squared Ltd now owns 24,708 shares of the shipping company’s stock worth $204,000 after acquiring an additional 5,405 shares during the period. Finally, Allworth Financial LP acquired a new stake in shares of Seanergy Maritime in the third quarter worth approximately $85,000. 29.36% of the stock is currently 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.