JPMorgan Chase & Co. bought a new stake in Seaspan Corporation (NYSE:SSW) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 180,430 shares of the shipping company’s stock, valued at approximately $1,289,000. JPMorgan Chase & Co. owned approximately 0.15% of Seaspan Corporation as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Seaspan Corporation by 523.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,072,771 shares of the shipping company’s stock valued at $7,430,000 after buying an additional 900,606 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Seaspan Corporation by 144.2% in the second quarter. First Trust Advisors LP now owns 351,385 shares of the shipping company’s stock valued at $2,509,000 after buying an additional 207,520 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Seaspan Corporation by 15.5% in the first quarter. California Public Employees Retirement System now owns 190,500 shares of the shipping company’s stock valued at $1,320,000 after buying an additional 25,500 shares in the last quarter. UBS Group AG grew its stake in shares of Seaspan Corporation by 119.5% in the first quarter. UBS Group AG now owns 86,282 shares of the shipping company’s stock valued at $598,000 after buying an additional 46,975 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Seaspan Corporation by 36.9% in the first quarter. Goldman Sachs Group Inc. now owns 85,413 shares of the shipping company’s stock valued at $592,000 after buying an additional 23,002 shares in the last quarter. Institutional investors and hedge funds own 15.33% of the company’s stock.

A number of research firms have recently issued reports on SSW. BidaskClub lowered Seaspan Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Zacks Investment Research lowered Seaspan Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. ValuEngine lowered Seaspan Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Credit Suisse Group set a $5.00 price objective on Seaspan Corporation and gave the company a “sell” rating in a research note on Tuesday, August 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $7.00 price objective on shares of Seaspan Corporation in a research note on Friday, July 14th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Seaspan Corporation currently has an average rating of “Hold” and an average target price of $6.79.

In other news, CEO Gerry Yougui Wang sold 634,762 shares of Seaspan Corporation stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $7.45, for a total value 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 filing with the Securities & Exchange Commission, which is available at the SEC website.

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Shares of Seaspan Corporation (NYSE SSW) opened at 7.55 on Thursday. Seaspan Corporation has a 52 week low of $5.02 and a 52 week high of $13.38. The firm’s 50-day moving average price is $7.11 and its 200-day moving average price is $6.61. The firm’s market cap is $889.67 million.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, October 20th will be paid a $0.125 dividend. The ex-dividend date is Thursday, October 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.62%. Seaspan Corporation’s payout ratio is presently -29.94%.

Seaspan Corporation Profile

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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Institutional Ownership by Quarter for Seaspan Corporation (NYSE:SSW)

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