Cubist Systematic Strategies LLC Purchases 87,028 Shares of Seanergy Maritime Holdings Corp. (NASDAQ:SHIP)

Cubist Systematic Strategies LLC boosted its position in Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) by 217.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,976 shares of the shipping company’s stock after acquiring an additional 87,028 shares during the quarter. Cubist Systematic Strategies LLC owned 0.61% of Seanergy Maritime worth $1,253,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SHIP. ORG Partners LLC bought a new stake in shares of Seanergy Maritime during the second quarter worth $191,000. Quadrature Capital Ltd bought a new stake in shares of Seanergy Maritime during the fourth quarter worth $290,000. Acadian Asset Management LLC bought a new stake in shares of Seanergy Maritime during the first quarter worth $300,000. XTX Topco Ltd grew its stake in shares of Seanergy Maritime by 99.6% during the second quarter. XTX Topco Ltd now owns 38,885 shares of the shipping company’s stock worth $384,000 after buying an additional 19,401 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Seanergy Maritime by 316.2% during the second quarter. Marshall Wace LLP now owns 213,503 shares of the shipping company’s stock worth $2,107,000 after buying an additional 162,201 shares during the last quarter. 29.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SHIP has been the topic of a number of research reports. StockNews.com cut shares of Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 13th. Noble Financial raised shares of Seanergy Maritime to a “strong-buy” rating in a research note on Tuesday, July 23rd.

Seanergy Maritime Stock Performance

Shares of Seanergy Maritime stock opened at $11.90 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.72. Seanergy Maritime Holdings Corp. has a twelve month low of $4.87 and a twelve month high of $13.19. The stock has a market cap of $246.33 million, a price-to-earnings ratio of 14.88 and a beta of 0.64. The company’s fifty day moving average is $10.62 and its 200 day moving average is $10.34.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings data on Tuesday, August 6th. The shipping company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.14. The company had revenue of $43.13 million for the quarter, compared to analysts’ expectations of $40.69 million. Seanergy Maritime had a net margin of 20.12% and a return on equity of 12.42%. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Sell-side analysts forecast that Seanergy Maritime Holdings Corp. will post 2.1 EPS for the current year.

Seanergy Maritime Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 27th will be issued a $0.25 dividend. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, September 27th. This represents a $1.00 annualized dividend and a yield of 8.40%. Seanergy Maritime’s payout ratio is presently 12.50%.

Seanergy Maritime 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.