Seanergy Maritime (NASDAQ:SHIP) Releases Earnings Results, Beats Expectations By $0.12 EPS

Seanergy Maritime (NASDAQ:SHIP) posted its earnings results on Thursday. The shipping company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.12, Zacks reports. Seanergy Maritime had a net margin of 13.08% and a return on equity of 8.35%.

Seanergy Maritime Price Performance

NASDAQ:SHIP traded down $0.52 during mid-day trading on Thursday, reaching $14.35. 238,209 shares of the stock were exchanged, compared to its average volume of 243,172. Seanergy Maritime has a 1-year low of $6.10 and a 1-year high of $16.81. The firm has a market capitalization of $299.81 million, a PE ratio of 14.49 and a beta of 0.94. The business has a fifty day moving average price of $14.42 and a 200 day moving average price of $12.02. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84.

Insider Activity at Seanergy Maritime

In other news, insider Stavros Gyftakis sold 3,570 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $13.95, for a total transaction of $49,801.50. Following the completion of the sale, the insider directly owned 236,295 shares of the company’s stock, valued at $3,296,315.25. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Seanergy Maritime

A number of institutional investors have recently bought and sold shares of SHIP. BNP Paribas Financial Markets raised its holdings in Seanergy Maritime by 12.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock worth $150,000 after buying an additional 2,713 shares during the period. Renaissance Technologies LLC boosted its position in shares of Seanergy Maritime by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 563,500 shares of the shipping company’s stock worth $5,201,000 after buying an additional 3,800 shares during the period. Russell Investments Group Ltd. acquired a new position in Seanergy Maritime during the fourth quarter valued at $41,000. Susquehanna Fundamental Investments LLC purchased a new stake in Seanergy Maritime in the 4th quarter worth about $119,000. Finally, Campbell & CO Investment Adviser LLC grew its stake in Seanergy Maritime by 100.3% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 28,404 shares of the shipping company’s stock valued at $262,000 after acquiring an additional 14,224 shares in the last quarter. Hedge funds and other institutional investors own 29.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SHIP shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Friday, March 27th. Noble Financial reissued an “outperform” rating on shares of Seanergy Maritime in a report on Monday, February 9th. Zacks Research raised Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Wall Street Zen raised shares of Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 4th. Finally, B. Riley Financial upped their price objective on Seanergy Maritime from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Seanergy Maritime presently has an average rating of “Buy” and an average price target of $17.00.

About Seanergy Maritime

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company’s operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials.

The company’s core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes.