Short Interest in Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Rises By 29.4%

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 435,600 shares, a growth of 29.4% from the February 28th total of 336,700 shares. Based on an average daily trading volume, of 229,300 shares, the days-to-cover ratio is currently 1.9 days. Approximately 3.5% of the shares of the company are short sold.

Institutional Investors Weigh In On Seanergy Maritime

Several large investors have recently bought and sold shares of the company. Mackenzie Financial Corp raised its stake in Seanergy Maritime by 153.9% during the 4th quarter. Mackenzie Financial Corp now owns 29,206 shares of the shipping company’s stock worth $203,000 after buying an additional 17,704 shares during the period. PharVision Advisers LLC bought a new position in shares of Seanergy Maritime during the 4th quarter valued at about $227,000. Squarepoint Ops LLC grew its position in shares of Seanergy Maritime by 50.5% in the 4th quarter. Squarepoint Ops LLC now owns 89,566 shares of the shipping company’s stock valued at $622,000 after purchasing an additional 30,052 shares during the period. Two Sigma Investments LP increased its stake in Seanergy Maritime by 9.8% during the 4th quarter. Two Sigma Investments LP now owns 291,450 shares of the shipping company’s stock worth $2,026,000 after purchasing an additional 25,927 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Seanergy Maritime by 46.4% during the 4th quarter. Millennium Management LLC now owns 570,330 shares of the shipping company’s stock worth $3,964,000 after buying an additional 180,876 shares during the period. Institutional investors own 29.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Seanergy Maritime from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Maxim Group cut their target price on Seanergy Maritime from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, February 3rd.

Seanergy Maritime Price Performance

Shares of SHIP traded up $0.02 during mid-day trading on Tuesday, hitting $6.42. 20,798 shares of the company traded hands, compared to its average volume of 259,211. The company has a current ratio of 1.99, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average of $6.99 and a 200 day moving average of $8.28. Seanergy Maritime has a one year low of $6.24 and a one year high of $13.19. The stock has a market capitalization of $130.80 million, a price-to-earnings ratio of 2.75 and a beta of 0.45.

Seanergy Maritime Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 27th will be given a $0.10 dividend. The ex-dividend date is Thursday, March 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.23%. Seanergy Maritime’s dividend payout ratio is 18.96%.

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.