Trexquant Investment LP Invests $348,000 in Seaspan Corporation (SSW)
Trexquant Investment LP bought a new position in shares of Seaspan Corporation (NYSE:SSW) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 49,083 shares of the shipping company’s stock, valued at approximately $348,000.
Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. raised its position in shares of Seaspan by 11,648.9% during the 3rd quarter. Sei Investments Co. now owns 15,626 shares of the shipping company’s stock worth $111,000 after purchasing an additional 15,493 shares during the last quarter. NEXT Financial Group Inc acquired a new position in shares of Seaspan during the 3rd quarter worth about $143,000. Bank of America Corp DE raised its position in shares of Seaspan by 9.3% during the 1st quarter. Bank of America Corp DE now owns 20,822 shares of the shipping company’s stock worth $144,000 after purchasing an additional 1,775 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in shares of Seaspan during the 2nd quarter worth about $157,000. Finally, First Allied Advisory Services Inc. raised its position in shares of Seaspan by 42.4% during the 2nd quarter. First Allied Advisory Services Inc. now owns 24,727 shares of the shipping company’s stock worth $174,000 after purchasing an additional 7,366 shares during the last quarter. 14.40% of the stock is currently owned by institutional investors and hedge funds.
Separately, ValuEngine downgraded shares of Seaspan from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Seaspan has a consensus rating of “Hold” and an average target price of $6.25.
Seaspan (NYSE:SSW) last released its quarterly earnings data on Tuesday, October 31st. The shipping company reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. The company had revenue of $211.01 million during the quarter, compared to the consensus estimate of $212.46 million. Seaspan had a net margin of 14.23% and a return on equity of 7.14%. During the same quarter in the prior year, the firm earned $0.29 EPS. analysts anticipate that Seaspan Corporation will post 0.71 earnings per share for the current year.
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Seaspan Company Profile
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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