Telemus Capital LLC held its stake in shares of Seaspan Corporation (NYSE:SSW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,000 shares of the shipping company’s stock at the end of the second quarter. Telemus Capital LLC’s holdings in Seaspan Corporation were worth $136,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in SSW. Private Advisor Group LLC purchased a new stake in shares of Seaspan Corporation during the first quarter valued at $111,000. Cue Financial Group Inc. raised its stake in shares of 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 buying an additional 2,000 shares in the last quarter. Bank of America Corp DE raised its stake in shares of 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 buying an additional 1,775 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Seaspan Corporation during the fourth quarter valued at $193,000. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of 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 buying an additional 4,300 shares in the last quarter. 12.62% of the stock is owned by hedge funds and other institutional investors.
Seaspan Corporation (NYSE:SSW) traded up 2.24% during trading on Friday, hitting $6.86. The stock had a trading volume of 1,184,792 shares. Seaspan Corporation has a 52 week low of $5.02 and a 52 week high of $15.01. The stock has a 50-day moving average price of $6.71 and a 200-day moving average price of $6.67. The company’s market cap is $808.36 million.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 20th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 7.29%. The ex-dividend date was Tuesday, July 18th. Seaspan Corporation’s dividend payout ratio (DPR) is presently -29.94%.
Several analysts recently weighed in on the company. Stifel Nicolaus reissued a “hold” rating and issued a $7.00 price objective on shares of Seaspan Corporation in a report on Friday, July 14th. Zacks Investment Research raised Seaspan Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub lowered Seaspan Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Credit Suisse Group set a $5.00 target price on Seaspan Corporation and gave the company a “sell” rating in a report on Tuesday, August 1st. Finally, Citigroup Inc. raised Seaspan Corporation from a “sell” rating to a “neutral” rating and set a $7.00 target price for the company in a report on Tuesday, May 2nd. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.81.
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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