Insider Selling: Seanergy Maritime (NASDAQ:SHIP) Director Sells 15,000 Shares

Key Points

• Director Christina Anagnostara sold 15,000 Seanergy Maritime shares at an average price of $17.19, generating $257,850 and reducing her holdings by 7.76% to 178,239 shares.
• Seanergy Maritime reported quarterly EPS of $1.32, exceeding estimates of $1.05, while revenue of $55.69 million also topped expectations.
• The company raised its quarterly dividend to $0.35 per share, implying an annualized payout of $1.40 and an 8.3% yield; analysts maintain a “Moderate Buy” consensus with a $25 target price.

Seanergy Maritime Holdings Corp (NASDAQ:SHIP - Get Free Report) Director Christina Anagnostara sold 15,000 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $17.19, for a total value of $257,850.00. Following the completion of the transaction, the director owned 178,239 shares of the company's stock, valued at $3,063,928.41. This trade represents a 7.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Seanergy Maritime Trading Down 2.2%

NASDAQ SHIP traded down $0.38 on Friday, hitting $16.86. 220,301 shares of the company were exchanged, compared to its average volume of 247,979. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.85 and a quick ratio of 0.83. Seanergy Maritime Holdings Corp has a twelve month low of $7.21 and a twelve month high of $18.48. The firm has a market capitalization of $352.37 million, a P/E ratio of 5.90 and a beta of 0.92. The company's 50 day moving average price is $15.32 and its 200-day moving average price is $14.06.

Seanergy Maritime (NASDAQ:SHIP - Get Free Report) last released its earnings results on Thursday, July 30th. The shipping company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.27. Seanergy Maritime had a net margin of 30.68% and a return on equity of 22.51%. The business had revenue of $55.69 million for the quarter, compared to the consensus estimate of $53.90 million. Analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 8.3%. The ex-dividend date is Friday, September 25th. This is a positive change from Seanergy Maritime's previous quarterly dividend of $0.20. Seanergy Maritime's dividend payout ratio is presently 27.97%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Seanergy Maritime in a research report on Wednesday, July 8th. B. Riley Financial increased their price objective on Seanergy Maritime from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Zacks Research lowered Seanergy Maritime from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

Hedge Funds Weigh In On Seanergy Maritime

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new stake in Seanergy Maritime during the fourth quarter valued at $41,000. Truist Financial Corp acquired a new position in Seanergy Maritime in the 4th quarter worth about $113,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Seanergy Maritime during the 4th quarter worth about $119,000. Jane Street Group LLC bought a new stake in shares of Seanergy Maritime in the 2nd quarter valued at approximately $124,000. Finally, Virtu Financial LLC acquired a new position in Seanergy Maritime in the third quarter worth approximately $134,000. 29.36% of the stock is owned by institutional investors and hedge funds.

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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