Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Sees Significant Decline in Short Interest

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP - Get Free Report) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 237,800 shares, a drop of 21.8% from the October 31st total of 304,100 shares. Currently, 1.8% of the company's shares are sold short. Based on an average daily trading volume, of 252,300 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Seanergy Maritime from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 13th.

Seanergy Maritime Stock Down 0.6 %

Shares of NASDAQ SHIP traded down $0.05 during mid-day trading on Friday, hitting $8.08. 142,914 shares of the stock traded hands, compared to its average volume of 250,963. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 1.99. Seanergy Maritime has a 52 week low of $6.54 and a 52 week high of $13.19. The company has a market cap of $167.26 million, a price-to-earnings ratio of 3.47 and a beta of 0.65. The stock has a fifty day moving average price of $10.13 and a 200-day moving average price of $10.52.

Seanergy Maritime (NASDAQ:SHIP - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.07. The business had revenue of $44.36 million during the quarter, compared to analysts' expectations of $42.10 million. Seanergy Maritime had a return on equity of 19.01% and a net margin of 28.37%. During the same quarter in the previous year, the business earned ($0.28) earnings per share. Research analysts anticipate that Seanergy Maritime will post 2.1 EPS for the current year.

Seanergy Maritime Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.26 per share. This is a boost from Seanergy Maritime's previous quarterly dividend of $0.25. The ex-dividend date is Friday, December 27th. This represents a $1.04 dividend on an annualized basis and a yield of 12.87%. Seanergy Maritime's payout ratio is presently 42.74%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SHIP. Millennium Management LLC raised its stake in shares of Seanergy Maritime by 193.6% in the second quarter. Millennium Management LLC now owns 359,347 shares of the shipping company's stock worth $3,547,000 after purchasing an additional 236,941 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Seanergy Maritime by 217.9% in the second quarter. Cubist Systematic Strategies LLC now owns 126,976 shares of the shipping company's stock worth $1,253,000 after purchasing an additional 87,028 shares during the last quarter. Marshall Wace LLP increased its position in Seanergy Maritime by 316.2% during the second quarter. Marshall Wace LLP now owns 213,503 shares of the shipping company's stock valued at $2,107,000 after acquiring an additional 162,201 shares during the last quarter. Renaissance Technologies LLC increased its position in Seanergy Maritime by 33.2% during the second quarter. Renaissance Technologies LLC now owns 635,600 shares of the shipping company's stock valued at $6,273,000 after acquiring an additional 158,400 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Seanergy Maritime by 1,009.6% during the second quarter. Acadian Asset Management LLC now owns 384,373 shares of the shipping company's stock valued at $3,782,000 after acquiring an additional 349,733 shares during the last quarter. Hedge funds and other institutional investors own 29.36% of the company's stock.

About Seanergy Maritime

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.