Seaspan Corporation Seaspan Cor (NYSE:SSW) Trading Volume Significantly Higher


Trading was heavy with 980K shares changing hands by the end of trading on Friday. Trading volume was up 140.97% over the stocks average daily volume.

Investors are feeling more bullish on shares of the company lately if you look at the motion in short interest. The firm saw a fall in short interest between July 31, 2017 and August 15, 2017 of -5.84%. Short interest fell 446,082 over that timeframe. Days to cover increased 6.0 to 6.0 and the percentage of shorted shares was 0.06% on August 15.

Seaspan Corporation Seaspan Cor (NYSE:SSW) has been the object of insider buying activity recently. CEO Gerry Yougui Wang acquired 17,948 shares at an average price of $6.39 on Mon the 31st. That brings the CEO’s holdings to $14,553,928 per an SEC filing yesterday.

These funds have shifted positions in (SSW). Evanson Asset Management, LLC augmented its position by buying 573 shares an increase of 1.8% as of 06/30/2017. Evanson Asset Management, LLC claims 32,442 shares valued at $232,000. The value of the position overall is up by 5.0%. As of quarter end Cue Financial Group, Inc. had acquired a total of 2,000 shares growing its holdings by 13.0%. The value of the investment in (SSW) went from $107,000 to $124,000 a change of 15.9% since the last quarter.

As of the end of the quarter Bluecrest Capital Management Ltd had sold 8,793 shares trimming its position 37.3%. The value of the total investment in Seaspan Corporation Seaspan Cor decreased from $163,000 to $105,000 decreasing 35.6% quarter over quarter. Slate Path Capital Lp downsized its investment by selling 110,000 shares a decrease of 19.6% in the quarter. Slate Path Capital Lp currently owns 450,000 shares worth $3,213,000. The total value of its holdings decreased 17.2%.

The company is so far trading down by 1.15% percent from yesterday’s close. Additionally Seaspan Corporation Seaspan Cor recently declared a dividend paid on Monday the 31st of July 2017. The dividend payment was $0.125 per share for the quarter which comes to $0.50 on an annualized basis. This dividend represents a yeild of $7.15 which is the dividend as a percentage of the current share price. The ex-dividend date was set for Tuesday the 18th of July 2017.

Company shares last traded at $6.90 which is just a bit higher than the 50 day moving average of $6.87 and which is marginally over the 200 day moving average of $6.61. The 50 day moving average was up $0.03 and the 200 day average was up $0.29.

As of the latest earnings report the EPS was $-1.62 and is projected to be $0.69 for the current year with 117,837,000 shares currently outstanding. Next quarter’s EPS is estimated at $0.19 with next year’s EPS anticipated to be $1.09.

Seaspan Corporation, launched on May 3, 2005, 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. The Business’s operating vessels include YM Wish, YM Wellhead, YM Witness, COSCO Glory, COSCO Development, COSCO Harmony, COSCO Excellence, COSCO Hope, COSCO Fortune, Seaspan Yangtze, CSCL Zeebrugge, CSCL Long Beach, CSCL Oceania, COSCO Philippines, COSCO Vietnam, MOL Emissary, Seaspan Chiwan, Seaspan Ningbo, Seaspan Felixstowe, CSCL Brisbane, Seaspan Saigon, Seaspan Santos, Seaspan Loncomilla, Seaspan Lingue, CSCL Montevideo, CSCL Callao, Guayaquil Bridge and Calicanto Bridge..