Seaspan Co. (NYSE:SSW) CEO Sells $4,728,976.90 in Stock

Seaspan Co. (NYSE:SSW) CEO Gerry Yougui Wang sold 634,762 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $7.45, for a total transaction of $4,728,976.90. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this link.

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

  • On Tuesday, August 29th, Gerry Yougui Wang bought 10,076 shares of Seaspan stock. The shares were purchased at an average cost of $6.39 per share, for a total transaction of $64,385.64.

Seaspan Co. (NYSE SSW) traded up 3.10% during trading on Friday, hitting $6.99. 3,293,326 shares of the stock traded hands. Seaspan Co. has a one year low of $5.02 and a one year high of $14.12. The stock’s market cap is $823.68 million. The company 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 hedge funds and other institutional investors have recently modified their holdings of the business. Private Advisor Group LLC bought a new position in shares of Seaspan in the first quarter valued at about $111,000. Cue Financial Group Inc. raised its holdings in shares of Seaspan 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 during the last quarter. Bank of America Corp DE raised its holdings in shares of Seaspan 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 during the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of Seaspan 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 during the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new position in shares of Seaspan in the second quarter valued at about $157,000. 15.33% of the stock is owned by institutional investors.

Several analysts recently issued reports on SSW shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price target on shares of Seaspan in a report on Friday, July 14th. BidaskClub raised shares of Seaspan from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Credit Suisse Group set a $5.00 price target on shares of Seaspan and gave the company a “sell” rating in a report on Tuesday, August 1st. ValuEngine cut shares of Seaspan from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Zacks Investment Research raised shares of Seaspan from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.81.

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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