Punch & Associates Investment Management Inc. lifted its stake in SEASPAN CORP/SH SH (NYSE:SSW) by 7.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 964,970 shares of the shipping company’s stock after purchasing an additional 67,401 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in SEASPAN CORP/SH SH were worth $8,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of SSW. BlackRock Inc. increased its holdings in SEASPAN CORP/SH SH by 30.4% in the 4th quarter. BlackRock Inc. now owns 3,088,699 shares of the shipping company’s stock worth $24,184,000 after buying an additional 719,762 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in SEASPAN CORP/SH SH by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,734,525 shares of the shipping company’s stock worth $15,088,000 after buying an additional 15,462 shares in the last quarter. DDD Partners LLC increased its holdings in SEASPAN CORP/SH SH by 1.6% in the 1st quarter. DDD Partners LLC now owns 676,089 shares of the shipping company’s stock worth $5,882,000 after buying an additional 10,419 shares in the last quarter. Norges Bank bought a new stake in SEASPAN CORP/SH SH in the 4th quarter worth about $5,244,000. Finally, Wells Fargo & Company MN increased its holdings in SEASPAN CORP/SH SH by 3.6% in the 1st quarter. Wells Fargo & Company MN now owns 646,950 shares of the shipping company’s stock worth $5,629,000 after buying an additional 22,338 shares in the last quarter. 45.62% of the stock is owned by hedge funds and other institutional investors.
SSW has been the subject of several research analyst reports. Zacks Investment Research upgraded SEASPAN CORP/SH SH from a “sell” rating to a “hold” rating in a report on Saturday, February 16th. Jefferies Financial Group downgraded SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating and set a $10.00 price objective for the company. in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. SEASPAN CORP/SH SH presently has a consensus rating of “Hold” and a consensus price target of $9.40.
NYSE SSW traded down $0.09 during trading hours on Friday, hitting $9.28. The company’s stock had a trading volume of 3,064 shares, compared to its average volume of 517,333. SEASPAN CORP/SH SH has a 12 month low of $7.05 and a 12 month high of $10.72. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 1.10 and a beta of 0.77. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 0.95.
SEASPAN CORP/SH SH (NYSE:SSW) last released its quarterly earnings data on Wednesday, May 1st. The shipping company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. SEASPAN CORP/SH SH had a return on equity of 9.67% and a net margin of 42.91%. The company had revenue of $285.30 million during the quarter, compared to the consensus estimate of $287.14 million. During the same period last year, the company earned $0.37 EPS. SEASPAN CORP/SH SH’s revenue for the quarter was up 26.9% on a year-over-year basis. On average, equities analysts predict that SEASPAN CORP/SH SH will post 0.66 earnings per share for the current fiscal year.
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SEASPAN CORP/SH SH Company Profile
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.
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