Seanergy Maritime (NASDAQ:SHIP) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• SSeanergy Maritime's stock price surpassed its 200-day moving average of $6.55, reaching a high of $7.84 during trading.
• The company announced a $0.05 quarterly dividend to be paid on October 10th, with a yield of 2.6% and a payout ratio of 27.40%.
• Institutional investors, including Quarry LP and Jane Street Group LLC, have recently increased their stakes in Seanergy Maritime, owning 29.36% of the company's stock.

Seanergy Maritime Holdings Corp (NASDAQ:SHIP - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.55 and traded as high as $7.84. Seanergy Maritime shares last traded at $7.83, with a volume of 139,937 shares.

Seanergy Maritime Trading Down 3.3%

The stock has a market capitalization of $162.81 million, a PE ratio of 10.67 and a beta of 0.73. The firm has a 50 day moving average price of $7.03 and a 200 day moving average price of $6.58. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 0.95.

Seanergy Maritime Announces Dividend

The business also recently disclosed 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 2.6%. Seanergy Maritime's dividend payout ratio is 27.40%.

Institutional Trading of Seanergy Maritime

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake 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 worth $150,000 after purchasing an additional 2,713 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Seanergy Maritime during the fourth quarter valued at approximately $70,000. Boothbay Fund Management LLC purchased a new stake in shares of Seanergy Maritime during the fourth quarter valued at approximately $76,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Seanergy Maritime during the second quarter valued at approximately $90,000. Finally, Jane Street Group LLC purchased a new stake in shares of Seanergy Maritime during the fourth quarter valued at approximately $104,000. 29.36% of the stock is owned by hedge funds and other institutional investors.

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.