Seanergy Maritime Holdings Corp $SHIP Shares Purchased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Seanergy Maritime stake by 15.8% in the first quarter, purchasing 88,800 additional shares and bringing its holdings to 652,300 shares, or about 3.12% of the company.
• Seanergy reported quarterly EPS of $0.63, beating estimates of $0.39, while revenue reached $42.85 million. The stock was trading near its 12-month high at $18.17.
• The company raised its quarterly dividend to $0.35 per share, equivalent to a 7.7% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $25.

Renaissance Technologies LLC boosted its position in shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP - Free Report) by 15.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 652,300 shares of the shipping company's stock after purchasing an additional 88,800 shares during the period. Renaissance Technologies LLC owned approximately 3.12% of Seanergy Maritime worth $8,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in shares of Seanergy Maritime by 4.2% in the 1st 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 raised its position in shares of Seanergy Maritime by 12.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company's stock valued at $150,000 after buying an additional 2,713 shares during the period. Russell Investments Group Ltd. acquired a new position in Seanergy Maritime in the fourth quarter valued at approximately $41,000. R Squared Ltd lifted its holdings in Seanergy Maritime by 59.3% in the first quarter. R Squared Ltd now owns 29,062 shares of the shipping company's stock valued at $375,000 after acquiring an additional 10,816 shares during the last quarter. Finally, Truist Financial Corp purchased a new position in Seanergy Maritime in the fourth quarter worth approximately $113,000. 29.36% of the stock is currently owned by institutional investors and hedge funds.

Seanergy Maritime Trading Up 3.9%

NASDAQ:SHIP opened at $18.17 on Tuesday. Seanergy Maritime Holdings Corp has a 12-month low of $6.76 and a 12-month high of $18.48. The firm has a market cap of $379.75 million, a PE ratio of 6.35 and a beta of 0.92. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The stock has a fifty day moving average price of $15.18 and a 200 day moving average price of $13.89.

Seanergy Maritime (NASDAQ:SHIP - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.24. The company had revenue of $42.85 million for the quarter, compared to analyst estimates of $42.15 million. Seanergy Maritime had a return on equity of 22.51% and a net margin of 30.68%. Sell-side analysts anticipate that Seanergy Maritime Holdings Corp will post 2.87 earnings per share for the current fiscal year.

Seanergy Maritime Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.7%. This is a positive change from Seanergy Maritime's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, September 25th. Seanergy Maritime's dividend payout ratio is 27.97%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SHIP shares. Zacks Research downgraded Seanergy Maritime from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 29th. B. Riley Financial raised their price objective on Seanergy Maritime from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Seanergy Maritime in a report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Seanergy Maritime has an average rating of "Moderate Buy" and an average price target of $25.00.

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.

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