Seaspan Co. (NYSE:SSW) CEO Gerry Yougui Wang Acquires 10,076 Shares

Seaspan Co. (NYSE:SSW) CEO Gerry Yougui Wang bought 10,076 shares of Seaspan stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average price of $6.39 per share, with a total value of $64,385.64. Following the completion of the purchase, the chief executive officer now directly owns 2,042,848 shares in the company, valued at approximately $13,053,798.72. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Gerry Yougui Wang also recently made the following trade(s):

  • On Friday, August 25th, Gerry Yougui Wang sold 634,762 shares of Seaspan stock. The stock was sold at an average price of $7.45, for a total value of $4,728,976.90.

Seaspan Co. (NYSE:SSW) opened at 6.99 on Friday. The company’s market capitalization is $823.68 million. Seaspan Co. has a 12-month low of $5.02 and a 12-month high of $14.12. The stock has a 50 day moving average price of $6.91 and a 200-day moving average price of $6.57.

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Several research analysts have recently commented on SSW shares. Zacks Investment Research upgraded Seaspan from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Thursday, June 29th. BidaskClub raised Seaspan from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. ValuEngine cut Seaspan from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Seaspan in a report on Friday, July 14th. Finally, Credit Suisse Group set a $5.00 price target on Seaspan and gave the stock a “sell” rating in a report on Tuesday, August 1st. Five equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Seaspan has an average rating of “Hold” and an average price target of $6.81.

A number of institutional investors and hedge funds have recently bought and sold shares of SSW. Highbridge Capital Management LLC boosted its position in Seaspan by 4,478.2% during the first quarter. Highbridge Capital Management LLC now owns 964,122 shares of the shipping company’s stock worth $6,681,000 after acquiring an additional 943,063 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Seaspan by 523.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,072,771 shares of the shipping company’s stock worth $7,430,000 after acquiring an additional 900,606 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Seaspan by 636.0% during the second quarter. Goldman Sachs Group Inc. now owns 628,624 shares of the shipping company’s stock worth $4,488,000 after acquiring an additional 543,211 shares during the last quarter. Global X Management Co. LLC boosted its position in Seaspan by 85.4% during the first quarter. Global X Management Co. LLC now owns 1,072,574 shares of the shipping company’s stock worth $7,433,000 after acquiring an additional 493,906 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. acquired a new position in Seaspan during the second quarter worth about $3,404,000. Hedge funds and other institutional investors own 15.33% of the company’s stock.

About Seaspan

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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