Pictet Asset Management Ltd. bought a new position in Seaspan Corporation (NYSE:SSW) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 40,600 shares of the shipping company’s stock, valued at approximately $288,000.
Other large investors also recently made changes to their positions in the company. Cue Financial Group Inc. grew its position 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 worth $124,000 after acquiring an additional 2,000 shares in the last quarter. Bank of America Corp DE grew its position 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 worth $144,000 after acquiring an additional 1,775 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its position 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 worth $151,000 after acquiring an additional 4,300 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new position in Seaspan Corporation in the second quarter worth $157,000. Finally, First Allied Advisory Services Inc. grew its position in Seaspan Corporation by 42.4% in the second quarter. First Allied Advisory Services Inc. now owns 24,727 shares of the shipping company’s stock worth $174,000 after acquiring an additional 7,366 shares in the last quarter. Institutional investors own 15.16% of the company’s stock.
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Shares of Seaspan Corporation (NYSE:SSW) opened at $5.83 on Wednesday. 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 1 year low of $5.02 and a 1 year high of $11.76. The stock has a market cap of $725.31, a PE ratio of 8.25, a price-to-earnings-growth ratio of 1.72 and a beta of 0.67.
Seaspan Corporation (NYSE:SSW) last posted its quarterly earnings results on Tuesday, October 31st. The shipping company reported $0.18 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to analyst estimates of $212.46 million. During the same period in the prior year, the business posted $0.29 earnings per share. equities research analysts anticipate that Seaspan Corporation will post 0.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Friday, October 20th were given a dividend of $0.125 per share. The ex-dividend date was Thursday, October 19th. This represents a $0.50 annualized dividend and a yield of 8.58%. Seaspan Corporation’s payout ratio is 111.11%.
In other Seaspan Corporation news, CEO Gerry Yougui Wang sold 634,762 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 2,042,848 shares in the company, valued at $15,219,217.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
SSW has been the subject of several research reports. Credit Suisse Group set a $5.00 target price on shares of Seaspan Corporation and gave the stock a “sell” rating in a research report on Tuesday, August 1st. ValuEngine lowered shares of Seaspan Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Seaspan Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub lowered shares of Seaspan Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $6.79.
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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