Seanergy Maritime (NASDAQ:SHIP) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Seanergy Maritime Holdings Corp shares recently crossed above their 200-day moving average, reaching a high of $8.65 before last trading at $8.42.
• The company announced a quarterly dividend of $0.05, reflecting an annualized dividend yield of 2.4% with a payout ratio of 27.40%.
• Institutional investors currently hold 29.36% of the company's stock, with significant increases in holdings from firms like Arrowstreet Capital, which raised its position by 512.1% in the second quarter.

Seanergy Maritime Holdings Corp (NASDAQ:SHIP - ) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.79 and traded as high as $8.65. Seanergy Maritime shares last traded at $8.42, with a volume of 143,494 shares changing hands.

Seanergy Maritime Stock Down 2.7%

The company has a market cap of $175.98 million, a PE ratio of 11.53 and a beta of 0.73. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 0.95. The firm's fifty day simple moving average is $7.85 and its 200-day simple moving average is $6.79.

Seanergy Maritime Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, September 29th. Seanergy Maritime's payout ratio is currently 27.40%.

Hedge Funds Weigh In On Seanergy Maritime

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of Seanergy Maritime by 12.9% in the second 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 last quarter. Jane Street Group LLC acquired a new position in shares of Seanergy Maritime in the second quarter valued at approximately $124,000. Arrowstreet Capital Limited Partnership raised its position in shares of Seanergy Maritime by 512.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company's stock valued at $546,000 after buying an additional 72,423 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Seanergy Maritime in the second quarter valued at approximately $90,000. Finally, R Squared Ltd acquired a new position in shares of Seanergy Maritime in the second quarter valued at approximately $122,000. Institutional investors and hedge funds 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.

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