Pictet Asset Management Ltd. Buys New Stake in Seaspan Corporation (SSW)

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.

COPYRIGHT VIOLATION WARNING: “Pictet Asset Management Ltd. Buys New Stake in Seaspan Corporation (SSW)” was originally posted by Week Herald and is the property of of Week Herald. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://weekherald.com/2017/11/15/pictet-asset-management-ltd-buys-new-stake-in-seaspan-corporation-ssw.html.

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.

Want to see what other hedge funds are holding SSW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seaspan Corporation (NYSE:SSW).

Institutional Ownership by Quarter for Seaspan Corporation (NYSE:SSW)

Receive News & Ratings for Seaspan Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seaspan Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply