Seanergy Maritime (NASDAQ:SHIP) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Seanergy Maritime's share price has crossed above its 200-day moving average, indicating potential market interest; it traded as high as $7.82 on Tuesday.
• The company recently declared a quarterly $0.05 dividend, translating to a 2.6% annualized yield, with the payable date set for October 10th.
• Institutional investors have shown increased activity, with several firms like BNP Paribas and Arrowstreet Capital significantly raising their positions in Seanergy Maritime during the second quarter.

Shares of Seanergy Maritime Holdings Corp (NASDAQ:SHIP - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.59 and traded as high as $7.82. Seanergy Maritime shares last traded at $7.78, with a volume of 159,155 shares changing hands.

Seanergy Maritime Stock Performance

The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $166.99 million, a price-to-earnings ratio of 10.95 and a beta of 0.74. The company has a 50-day moving average of $7.15 and a 200-day moving average of $6.61.

Seanergy Maritime Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $0.20 annualized dividend and a dividend yield of 2.5%. Seanergy Maritime's dividend payout ratio is presently 27.40%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC bought a new position in Seanergy Maritime during the second quarter valued at about $90,000. Jane Street Group LLC purchased a new stake in shares of Seanergy Maritime during the 4th quarter worth about $104,000. WMG Financial Advisors LLC bought a new position in shares of Seanergy Maritime in the 2nd quarter valued at approximately $109,000. R Squared Ltd bought a new position in shares of Seanergy Maritime in the 2nd quarter valued at approximately $122,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Seanergy Maritime in the 1st quarter valued at approximately $129,000. Institutional investors own 29.36% of the company's stock.

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.