California Public Employees Retirement System Buys 25,500 Shares of Seaspan Corporation (SSW)

California Public Employees Retirement System raised its position in shares of Seaspan Corporation (NYSE:SSW) by 15.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,500 shares of the shipping company’s stock after buying an additional 25,500 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Seaspan Corporation worth $1,320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd boosted its stake in Seaspan Corporation by 157.1% in the first quarter. Dynamic Technology Lab Private Ltd now owns 115,053 shares of the shipping company’s stock worth $797,000 after buying an additional 70,309 shares during the period. Clinton Group Inc. boosted its stake in Seaspan Corporation by 42.1% in the first quarter. Clinton Group Inc. now owns 105,621 shares of the shipping company’s stock worth $732,000 after buying an additional 31,312 shares during the period. Quantbot Technologies LP purchased a new stake in Seaspan Corporation during the first quarter worth approximately $195,000. Private Advisor Group LLC purchased a new stake in Seaspan Corporation during the first quarter worth approximately $111,000. Finally, Airain ltd boosted its stake in Seaspan Corporation by 261.7% in the first quarter. Airain ltd now owns 117,955 shares of the shipping company’s stock worth $817,000 after buying an additional 85,345 shares during the period. 12.62% of the stock is currently owned by hedge funds and other institutional investors.

Seaspan Corporation (NYSE:SSW) opened at 6.86 on Friday. The company’s 50-day moving average price is $6.71 and its 200-day moving average price is $6.67. Seaspan Corporation has a 52 week low of $5.02 and a 52 week high of $15.01. The company’s market capitalization is $808.36 million.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 20th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date was Tuesday, July 18th. Seaspan Corporation’s dividend payout ratio is presently -29.94%.

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A number of analysts recently commented on SSW shares. Zacks Investment Research cut Seaspan Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 15th. BidaskClub upgraded Seaspan Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Credit Suisse Group set a $5.00 price target on Seaspan Corporation and gave the stock a “sell” rating in a research report on Tuesday, August 1st. ValuEngine cut Seaspan Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Citigroup Inc. upgraded Seaspan Corporation from a “sell” rating to a “neutral” rating and set a $7.00 price target for the company in a research report on Tuesday, May 2nd. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The stock currently 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.

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

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