ValuEngine cut shares of Seaspan Corporation (NYSE:SSW) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

A number of other brokerages also recently issued reports on SSW. Zacks Investment Research downgraded Seaspan Corporation from a hold rating to a sell rating in a report on Saturday, July 15th. BidaskClub upgraded Seaspan Corporation from a hold rating to a buy rating in a report on Thursday, July 6th. Credit Suisse Group set a $5.00 target price on Seaspan Corporation and gave the stock a sell rating in a research note on Tuesday, August 1st. Finally, Stifel Nicolaus restated a hold rating and set a $7.00 target price on shares of Seaspan Corporation in a research note on Friday, July 14th. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The company has an average rating of Hold and a consensus target price of $6.81.

Shares of Seaspan Corporation (SSW) opened at 7.28 on Friday. The stock has a 50 day moving average price of $6.84 and a 200-day moving average price of $6.64. Seaspan Corporation has a 1-year low of $5.02 and a 1-year high of $14.28. The stock’s market capitalization is $857.85 million.

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In other Seaspan Corporation news, CEO Gerry Yougui Wang sold 634,762 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $7.45, for a total transaction of $4,728,976.90. Following the sale, the chief executive officer now owns 2,042,848 shares in the company, valued at approximately $15,219,217.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional investors have recently bought and sold shares of the business. Symons Capital Management Inc. purchased a new stake in Seaspan Corporation during the 2nd quarter valued at about $511,000. Airain ltd grew its stake in Seaspan Corporation by 261.7% during the 1st quarter. Airain ltd now owns 117,955 shares of the shipping company’s stock valued at $817,000 after purchasing an additional 85,345 shares during the last quarter. Shell Asset Management Co. grew its stake in Seaspan Corporation by 2.1% during the 1st quarter. Shell Asset Management Co. now owns 55,682 shares of the shipping company’s stock valued at $386,000 after purchasing an additional 1,169 shares during the last quarter. UBS Group AG grew its stake in Seaspan Corporation by 119.5% during the 1st quarter. UBS Group AG now owns 86,282 shares of the shipping company’s stock valued at $598,000 after purchasing an additional 46,975 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new stake in Seaspan Corporation during the 1st quarter valued at about $111,000. Institutional investors and hedge funds own 15.33% of the company’s stock.

Seaspan Corporation Company Profile

Seaspan Corporation is an independent charter owner and manager of containerships. The Company charters pursuant to long-term, fixed-rate time charters with various container liner companies. As of February 20, 2017, it had operated a fleet of 88 containerships and had entered into contracts for the purchase of an additional eight new building containerships.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Seaspan Corporation (NYSE:SSW)

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