Schwab Charles Investment Management Inc. purchased a new stake in Seaspan Corporation (NYSE:SSW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,986 shares of the shipping company’s stock, valued at approximately $157,000.
A number of other large investors have also bought and sold shares of SSW. Cue Financial Group Inc. boosted its holdings in Seaspan Corporation by 13.0% in the second quarter. Cue Financial Group Inc. now owns 17,400 shares of the shipping company’s stock valued at $124,000 after purchasing an additional 2,000 shares during the last quarter. Bank of America Corp DE boosted its holdings in Seaspan Corporation by 9.3% in the first quarter. Bank of America Corp DE now owns 20,822 shares of the shipping company’s stock valued at $144,000 after purchasing an additional 1,775 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in Seaspan Corporation by 25.5% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 21,150 shares of the shipping company’s stock valued at $151,000 after purchasing an additional 4,300 shares during the last quarter. Parametrica Management Ltd purchased a new stake in Seaspan Corporation in the second quarter valued at $317,000. Finally, Credit Suisse AG boosted its holdings in Seaspan Corporation by 27.1% in the first quarter. Credit Suisse AG now owns 50,425 shares of the shipping company’s stock valued at $350,000 after purchasing an additional 10,759 shares during the last quarter. 15.16% of the stock is currently owned by institutional investors.
Several research firms have commented on SSW. BidaskClub lowered shares of Seaspan Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of Seaspan Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine lowered shares of Seaspan Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Credit Suisse Group set a $5.00 price target on shares of Seaspan Corporation and gave the company a “sell” rating in a report on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $6.79.
In other news, CEO Gerry Yougui Wang sold 634,762 shares of the stock in a transaction dated Friday, August 25th. The shares were 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 directly owns 2,042,848 shares of the company’s stock, valued at approximately $15,219,217.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Seaspan Corporation (NYSE:SSW) opened at $5.86 on Tuesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.19 and a current ratio of 1.19. Seaspan Corporation has a 12 month low of $5.02 and a 12 month high of $11.76. The stock has a market cap of $757.49, a PE ratio of 8.62, a PEG ratio of 1.80 and a beta of 0.67.
Seaspan Corporation (NYSE:SSW) last posted its earnings results on Tuesday, October 31st. The shipping company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Seaspan Corporation had a net margin of 14.23% and a return on equity of 7.14%. The business had revenue of $211.01 million for the quarter, compared to analyst estimates of $212.46 million. During the same period in the prior year, the company posted $0.29 EPS. research analysts predict that Seaspan Corporation will post 0.71 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Friday, October 20th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 8.53%. The ex-dividend date was Thursday, October 19th. Seaspan Corporation’s payout ratio is currently 111.11%.
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.
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