First Trust Advisors LP grew its stake in shares of Seaspan Corporation (NYSE:SSW) by 16.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 409,916 shares of the shipping company’s stock after purchasing an additional 58,531 shares during the quarter. First Trust Advisors LP owned 0.35% of Seaspan Corporation worth $2,906,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Cue Financial Group Inc. lifted its stake in shares of Seaspan Corporation by 13.0% during the second quarter. Cue Financial Group Inc. now owns 17,400 shares of the shipping company’s stock worth $124,000 after purchasing an additional 2,000 shares in the last quarter. Bank of America Corp DE increased its position in shares of Seaspan Corporation by 9.3% during the first quarter. Bank of America Corp DE now owns 20,822 shares of the shipping company’s stock worth $144,000 after acquiring an additional 1,775 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of Seaspan Corporation by 25.5% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 21,150 shares of the shipping company’s stock worth $151,000 after acquiring an additional 4,300 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in shares of Seaspan Corporation during the second quarter worth about $157,000. Finally, First Allied Advisory Services Inc. increased its position in shares of Seaspan Corporation by 42.4% during the second quarter. First Allied Advisory Services Inc. now owns 24,727 shares of the shipping company’s stock worth $174,000 after acquiring an additional 7,366 shares during the last quarter. Institutional investors own 15.49% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “First Trust Advisors LP Buys 58,531 Shares of Seaspan Corporation (SSW)” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://ledgergazette.com/2017/11/22/first-trust-advisors-lp-buys-58531-shares-of-seaspan-corporation-ssw.html.
Shares of Seaspan Corporation (NYSE SSW) opened at $5.85 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $727.78, a PE ratio of 8.28, a P/E/G ratio of 1.73 and a beta of 0.67. Seaspan Corporation has a fifty-two week low of $5.02 and a fifty-two week high of $11.76.
Seaspan Corporation (NYSE:SSW) last announced its quarterly earnings data on Tuesday, October 31st. The shipping company reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The firm had revenue of $211.01 million during the quarter, compared to analyst estimates of $212.46 million. Seaspan Corporation had a return on equity of 7.14% and a net margin of 14.23%. During the same period in the previous year, the company earned $0.29 earnings per share. equities analysts anticipate that Seaspan Corporation will post 0.71 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Friday, October 20th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 8.55%. The ex-dividend date was Thursday, October 19th. Seaspan Corporation’s dividend payout ratio (DPR) is presently 111.11%.
SSW has been the topic of a number of analyst reports. BidaskClub lowered Seaspan Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. ValuEngine lowered Seaspan Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised Seaspan Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Credit Suisse Group set a $5.00 target price on Seaspan Corporation and gave the stock a “sell” rating in a research report on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.79.
In other news, CEO Gerry Yougui Wang sold 634,762 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 2,042,848 shares of the company’s stock, valued at $15,219,217.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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.
Want to see what other hedge funds are holding SSW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seaspan Corporation (NYSE:SSW).
Receive News & Ratings for Seaspan Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seaspan Corporation and related companies with MarketBeat.com's FREE daily email newsletter.