NEXT Financial Group Inc Purchases Shares of 19,750 Seaspan Corporation (SSW)
NEXT Financial Group Inc purchased a new stake in Seaspan Corporation (NYSE:SSW) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 19,750 shares of the shipping company’s stock, valued at approximately $143,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dynamic Technology Lab Private Ltd grew its holdings in Seaspan Corporation by 105.0% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 37,186 shares of the shipping company’s stock valued at $264,000 after buying an additional 19,047 shares during the period. Macquarie Group Ltd. purchased a new stake in Seaspan Corporation in the 3rd quarter valued at about $381,000. Sei Investments Co. grew its holdings in Seaspan Corporation by 11,648.9% in the 3rd quarter. Sei Investments Co. now owns 15,626 shares of the shipping company’s stock valued at $111,000 after buying an additional 15,493 shares during the period. Symons Capital Management Inc. grew its holdings in Seaspan Corporation by 16.4% in the 3rd quarter. Symons Capital Management Inc. now owns 83,264 shares of the shipping company’s stock valued at $591,000 after buying an additional 11,714 shares during the period. Finally, Parametrica Management Ltd grew its holdings in Seaspan Corporation by 1,290.6% in the 3rd quarter. Parametrica Management Ltd now owns 618,166 shares of the shipping company’s stock valued at $4,383,000 after buying an additional 573,712 shares during the period. Institutional investors own 15.49% of the company’s stock.
SSW has been the subject of a number of research reports. Credit Suisse Group set a $5.00 target price on Seaspan Corporation and gave the stock a “sell” rating in a report on Tuesday, August 1st. ValuEngine cut Seaspan Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Seaspan Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, BidaskClub cut Seaspan Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.79.
In other Seaspan Corporation news, CEO Gerry Yougui Wang bought 10,076 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were bought at an average cost of $6.39 per share, with a total value of $64,385.64. Following the transaction, the chief executive officer now directly owns 2,042,848 shares in the company, valued at approximately $13,053,798.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
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Seaspan Corporation (NYSE:SSW) traded down $0.03 during trading on Wednesday, reaching $5.85. The company had a trading volume of 653,600 shares, compared to its average volume of 1,310,497. The firm has a market cap of $727.78, a price-to-earnings ratio of 8.28, a PEG ratio of 1.73 and a beta of 0.67. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.57. Seaspan Corporation has a 12-month low of $5.02 and a 12-month high of $11.76.
Seaspan Corporation (NYSE:SSW) last released its quarterly earnings results on Tuesday, October 31st. The shipping company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Seaspan Corporation had a return on equity of 7.14% and a net margin of 14.23%. The firm had revenue of $211.01 million for the quarter, compared to analyst estimates of $212.46 million. During the same period in the previous year, the company posted $0.29 EPS. sell-side analysts anticipate that Seaspan Corporation will post 0.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Friday, October 20th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.55%. The ex-dividend date of this dividend was Thursday, October 19th. Seaspan Corporation’s payout ratio is 111.11%.
About Seaspan Corporation
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.
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