Seaspan Corporation (SSW) Downgraded by ValuEngine
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.
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