Seanergy Maritime (NASDAQ:SHIP) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Seanergy Maritime (NASDAQ:SHIP) from a hold rating to a buy rating in a report issued on Saturday morning.

SHIP has been the topic of several other reports. Zacks Research upgraded shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Weiss Ratings upgraded shares of Seanergy Maritime from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $11.00.

Seanergy Maritime Trading Up 3.0%

Shares of Seanergy Maritime stock opened at $9.50 on Friday. Seanergy Maritime has a 1 year low of $4.78 and a 1 year high of $9.58. The company’s fifty day simple moving average is $8.56 and its 200-day simple moving average is $7.48. The company has a market cap of $198.57 million, a price-to-earnings ratio of 13.01 and a beta of 0.70. The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 0.95.

Seanergy Maritime Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Monday, December 29th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.5%. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, December 29th. Seanergy Maritime’s dividend payout ratio (DPR) is currently 71.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Seanergy Maritime in the 2nd quarter valued at $90,000. WMG Financial Advisors LLC bought a new position in Seanergy Maritime during the 2nd quarter valued at about $109,000. R Squared Ltd acquired a new position in Seanergy Maritime in the second quarter valued at about $122,000. Jane Street Group LLC bought a new stake in Seanergy Maritime during the second quarter worth about $124,000. Finally, Virtu Financial LLC acquired a new stake in shares of Seanergy Maritime during the third quarter worth approximately $134,000. 29.36% of the stock is owned by 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.