Seaspan Corporation (SSW) Receives $6.79 Consensus PT from Analysts
Shares of Seaspan Corporation (NYSE:SSW) have earned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $6.79.
SSW has been the topic of several research reports. Stifel Nicolaus reissued a “hold” rating and set a $7.00 price target on shares of Seaspan Corporation in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of Seaspan Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub cut shares of Seaspan Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. ValuEngine cut shares of Seaspan Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Credit Suisse Group set a $5.00 target price on shares of Seaspan Corporation and gave the stock a “sell” rating in a report on Tuesday, August 1st.
Shares of Seaspan Corporation (NYSE SSW) traded down 0.72% during midday trading on Tuesday, hitting $6.85. 1,251,382 shares of the company traded hands. The stock has a 50 day moving average of $6.87 and a 200-day moving average of $6.61. Seaspan Corporation has a 52 week low of $5.02 and a 52 week high of $14.14. The stock’s market capitalization is $807.18 million.
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In other Seaspan Corporation news, CEO Gerry Yougui Wang purchased 10,076 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average cost of $6.39 per share, for a total transaction of $64,385.64. Following the purchase, the chief executive officer now directly owns 2,042,848 shares of the company’s stock, valued at approximately $13,053,798.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Several institutional investors and hedge funds have recently modified their holdings of SSW. Private Advisor Group LLC purchased a new stake in shares of Seaspan Corporation during the 1st quarter worth approximately $111,000. Cue Financial Group Inc. raised its holdings in Seaspan Corporation by 13.0% during the 2nd quarter. Cue Financial Group Inc. now owns 17,400 shares of the shipping company’s stock valued at $124,000 after buying an additional 2,000 shares during the period. Bank of America Corp DE raised its holdings in Seaspan Corporation by 9.3% during the 1st quarter. Bank of America Corp DE now owns 20,822 shares of the shipping company’s stock valued at $144,000 after buying an additional 1,775 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in Seaspan Corporation by 25.5% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 21,150 shares of the shipping company’s stock valued at $151,000 after buying an additional 4,300 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Seaspan Corporation during the 2nd quarter valued at $157,000. 15.33% of the stock is currently owned by institutional investors and hedge funds.
About Seaspan Corporation
Seaspan Corporation is an independent charter owner and manager of containerships. The Company charters pursuant to long-term, fixed-rate time charters with various container liner companies. As of February 20, 2017, it had operated a fleet of 88 containerships and had entered into contracts for the purchase of an additional eight new building containerships.
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