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

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

Institutional Investors Weigh In On Seanergy Maritime

Hedge funds have recently modified their holdings of the business. Quarry LP increased its stake in Seanergy Maritime by 77.9% during the 3rd quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock worth $37,000 after purchasing an additional 1,321 shares in the last quarter. D.A. Davidson & CO. bought a new stake in shares of Seanergy Maritime during the third quarter worth $179,000. ORG Partners LLC acquired a new stake in shares of Seanergy Maritime during the second quarter worth $191,000. PDT Partners LLC bought a new stake in Seanergy Maritime in the 3rd quarter valued at $194,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Seanergy Maritime in the 2nd quarter worth $213,000. Institutional investors and hedge funds own 29.36% of the company’s stock.

Seanergy Maritime Stock Performance

SHIP stock opened at $8.13 on Friday. The company has a 50 day moving average price of $10.19 and a 200 day moving average price of $10.53. Seanergy Maritime has a fifty-two week low of $6.34 and a fifty-two week high of $13.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.52. The stock has a market capitalization of $168.29 million, a PE ratio of 3.47 and a beta of 0.65.

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

Seanergy Maritime Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, December 27th. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 12.79%. Seanergy Maritime’s payout ratio is currently 42.74%.

Wall Street Analyst Weigh In

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

About Seanergy Maritime

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.