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

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 304,100 shares, a growth of 35.8% from the October 15th total of 224,000 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 243,100 shares, the days-to-cover ratio is presently 1.3 days.

Seanergy Maritime Stock Performance

SHIP stock traded down $0.03 during trading on Friday, reaching $9.04. 219,995 shares of the company’s stock were exchanged, compared to its average volume of 250,082. Seanergy Maritime has a 1-year low of $5.29 and a 1-year high of $13.19. The firm has a market cap of $187.13 million, a PE ratio of 3.86 and a beta of 0.65. The company’s fifty day moving average price is $10.51 and its 200-day moving average price is $10.62. The company has a quick ratio of 0.52, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings data on Tuesday, November 5th. The shipping company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. The business had revenue of $44.36 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business earned ($0.28) earnings per share. On average, research analysts expect that Seanergy Maritime will post 2.1 EPS for the current fiscal year.

Seanergy Maritime Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 11.50%. Seanergy Maritime’s dividend payout ratio (DPR) is 42.74%.

Analyst Upgrades and Downgrades

SHIP has been the topic of a number of analyst reports. Noble Financial raised shares of Seanergy Maritime to a “strong-buy” rating in a report on Tuesday, July 23rd. StockNews.com lowered shares of Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SHIP. Renaissance Technologies LLC boosted its stake in Seanergy Maritime by 33.2% during the 2nd 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 in the last quarter. Walleye Capital LLC lifted its holdings in shares of Seanergy Maritime by 8.4% in the third quarter. Walleye Capital LLC now owns 480,336 shares of the shipping company’s stock valued at $5,966,000 after buying an additional 37,288 shares during the period. Acadian Asset Management LLC boosted its stake in Seanergy Maritime by 1,009.6% during the second quarter. Acadian Asset Management LLC now owns 384,373 shares of the shipping company’s stock valued at $3,782,000 after buying an additional 349,733 shares in the last quarter. Millennium Management LLC grew its holdings in Seanergy Maritime by 193.6% during the second quarter. Millennium Management LLC now owns 359,347 shares of the shipping company’s stock worth $3,547,000 after acquiring an additional 236,941 shares during the period. Finally, Marshall Wace LLP grew 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 during the period. Institutional investors and hedge funds own 29.36% of the company’s stock.

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.