Seanergy Maritime (NASDAQ:SHIP) Given New $13.00 Price Target at B. Riley

Seanergy Maritime (NASDAQ:SHIP - Free Report) had its price objective lifted by B. Riley from $11.00 to $13.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the shipping company's stock.

Several other analysts also recently commented on the company. StockNews.com raised Seanergy Maritime from a hold rating to a buy rating in a research note on Monday, March 18th. Noble Financial raised their price objective on Seanergy Maritime from $10.00 to $12.00 and gave the company an outperform rating in a research note on Monday, March 18th.

Seanergy Maritime Stock Up 2.5 %

Seanergy Maritime stock traded up $0.21 during mid-day trading on Wednesday, reaching $8.65. The stock had a trading volume of 293,462 shares, compared to its average volume of 215,996. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.34 and a current ratio of 0.36. Seanergy Maritime has a fifty-two week low of $4.03 and a fifty-two week high of $9.44. The stock's 50-day simple moving average is $8.16 and its 200-day simple moving average is $7.12. The firm has a market capitalization of $169.96 million, a PE ratio of 123.57 and a beta of 0.80.

Seanergy Maritime (NASDAQ:SHIP - Get Free Report) last announced its quarterly earnings results on Friday, March 15th. The shipping company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.41. The business had revenue of $39.43 million during the quarter, compared to analyst estimates of $33.90 million. Seanergy Maritime had a net margin of 1.68% and a return on equity of 2.70%. On average, sell-side analysts forecast that Seanergy Maritime will post 0.78 EPS for the current fiscal year.

Seanergy Maritime Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Monday, March 25th will be issued a dividend of $0.025 per share. The ex-dividend date is Friday, March 22nd. This represents a $0.10 dividend on an annualized basis and a yield of 1.16%. Seanergy Maritime's dividend payout ratio (DPR) is presently 142.86%.

Institutional Investors Weigh In On Seanergy Maritime

Hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new stake in Seanergy Maritime during the fourth quarter valued at about $177,000. Jane Street Group LLC lifted its stake in shares of Seanergy Maritime by 183.1% during the 1st quarter. Jane Street Group LLC now owns 127,749 shares of the shipping company's stock valued at $146,000 after buying an additional 82,629 shares in the last quarter. State Street Corp lifted its stake in shares of Seanergy Maritime by 7.9% during the 2nd quarter. State Street Corp now owns 28,395 shares of the shipping company's stock valued at $138,000 after buying an additional 2,074 shares in the last quarter. XTX Topco Ltd bought a new position in Seanergy Maritime in the 2nd quarter worth approximately $100,000. Finally, Virtu Financial LLC grew its stake in Seanergy Maritime by 16.9% in the 4th quarter. Virtu Financial LLC now owns 141,848 shares of the shipping company's stock valued at $70,000 after buying an additional 20,550 shares in the last quarter. Institutional investors own 29.36% of the company's stock.

About Seanergy Maritime

Seanergy Maritime Holdings Corp., a shipping company, engages in the seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 17 vessels with an aggregate cargo carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp. and changed its name to Seanergy Maritime Holdings Corp.