Shares of SEASPAN CORP/SH SH (NYSE:SSW) traded up 5.3% during trading on Monday . The stock traded as high as $11.15 and last traded at $11.14, 712,600 shares traded hands during mid-day trading. An increase of 8% from the average session volume of 661,823 shares. The stock had previously closed at $10.58.
A number of research firms have weighed in on SSW. Zacks Investment Research downgraded shares of SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. BMO Capital Markets began coverage on shares of SEASPAN CORP/SH SH in a report on Wednesday, August 14th. They issued a “market perform” rating and a $10.50 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.75.
The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 1.31 and a beta of 0.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.25. The company’s 50-day moving average is $10.21 and its 200-day moving average is $9.61.
Several institutional investors and hedge funds have recently modified their holdings of SSW. SG Americas Securities LLC lifted its holdings in SEASPAN CORP/SH SH by 13.1% during the 1st quarter. SG Americas Securities LLC now owns 11,546 shares of the shipping company’s stock valued at $100,000 after purchasing an additional 1,333 shares during the last quarter. Raymond James & Associates increased its position in SEASPAN CORP/SH SH by 27.3% in the 1st quarter. Raymond James & Associates now owns 359,050 shares of the shipping company’s stock valued at $3,124,000 after acquiring an additional 76,956 shares in the last quarter. DDD Partners LLC raised its stake in shares of SEASPAN CORP/SH SH by 1.6% in the first quarter. DDD Partners LLC now owns 676,089 shares of the shipping company’s stock worth $5,882,000 after acquiring an additional 10,419 shares during the last quarter. Private Management Group Inc. bought a new position in shares of SEASPAN CORP/SH SH in the first quarter worth about $3,088,000. Finally, Punch & Associates Investment Management Inc. lifted its position in shares of SEASPAN CORP/SH SH by 7.5% during the first quarter. Punch & Associates Investment Management Inc. now owns 964,970 shares of the shipping company’s stock worth $8,395,000 after purchasing an additional 67,401 shares in the last quarter. 46.59% of the stock is owned by institutional investors and hedge funds.
SEASPAN CORP/SH SH Company Profile (NYSE:SSW)
Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships under long-term, fixed-rate time charters to various container liner companies. As of February 15, 2018, it operated a fleet of 91 containerships. The company was founded in 2005 and is based in Hong Kong, Hong Kong.
Further Reading: Balanced Fund
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