Seanergy Maritime Holdings Corp (NASDAQ:SHIP) Short Interest Down 44.4% in August

Key Points

• Seanergy Maritime Holdings Corp experienced a significant reduction in short interest, decreasing by 44.4% in August, leaving the total at 368,500 shares.
• The company announced a quarterly dividend of $0.05 per share, with a dividend yield of 2.3%, scheduled for payment on October 10th.
• Several institutional investors have recently increased their stakes, with Millennium Management LLC boosting its investment by 46.4%, now owning 570,330 shares.

Seanergy Maritime Holdings Corp (NASDAQ:SHIP - Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 368,500 shares, a decrease of 44.4% from the August 15th total of 663,100 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily volume of 117,600 shares, the days-to-cover ratio is currently 3.1 days. Based on an average daily volume of 117,600 shares, the days-to-cover ratio is currently 3.1 days. Currently, 2.7% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SHIP. Campbell & CO Investment Adviser LLC bought a new position in Seanergy Maritime in the second quarter valued at $90,000. Jane Street Group LLC bought a new position in Seanergy Maritime in the fourth quarter valued at $104,000. WMG Financial Advisors LLC bought a new position in Seanergy Maritime in the second quarter valued at $109,000. R Squared Ltd bought a new position in Seanergy Maritime in the second quarter valued at $122,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Seanergy Maritime in the first quarter valued at $129,000. Institutional investors own 29.36% of the company's stock.

Seanergy Maritime Price Performance

Shares of Seanergy Maritime stock traded down $0.32 during trading on Friday, hitting $8.78. The stock had a trading volume of 68,925 shares, compared to its average volume of 157,885. The firm has a market cap of $183.54 million, a price-to-earnings ratio of 12.05 and a beta of 0.74. Seanergy Maritime has a 12 month low of $4.78 and a 12 month high of $12.65. The business's 50-day moving average is $7.57 and its 200 day moving average is $6.71. The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 0.95.

Seanergy Maritime Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, September 29th. Seanergy Maritime's dividend payout ratio is currently 27.40%.

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.