Fairview Capital Investment Management LLC Sells 755,535 Shares of Seaspan Corporation (SSW)

Fairview Capital Investment Management LLC reduced its stake in shares of Seaspan Corporation (NYSE:SSW) by 17.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,676,930 shares of the company’s stock after selling 755,535 shares during the period. Seaspan Corporation accounts for approximately 2.5% of Fairview Capital Investment Management LLC’s holdings, making the stock its 11th largest position. Fairview Capital Investment Management LLC owned approximately 3.49% of Seaspan Corporation worth $33,607,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SSW. Renaissance Group LLC boosted its stake in Seaspan Corporation by 16.4% in the fourth quarter. Renaissance Group LLC now owns 18,437 shares of the company’s stock valued at $169,000 after buying an additional 2,597 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Seaspan Corporation during the fourth quarter valued at about $1,574,000. State Street Corp boosted its stake in Seaspan Corporation by 22.9% in the fourth quarter. State Street Corp now owns 448,665 shares of the company’s stock valued at $4,101,000 after buying an additional 83,602 shares during the period. Princeton Alpha Management LP purchased a new stake in Seaspan Corporation during the third quarter valued at about $395,000. Finally, Global X Management Co. LLC boosted its stake in Seaspan Corporation by 1.5% in the third quarter. Global X Management Co. LLC now owns 558,108 shares of the company’s stock valued at $7,440,000 after buying an additional 8,500 shares during the period. 11.71% of the stock is owned by institutional investors.

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

Seaspan Corporation (NYSE:SSW) traded up 5.19% on Monday, reaching $7.70. 883,722 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $9.45 and its 200 day moving average price is $11.68. Seaspan Corporation has a 1-year low of $6.62 and a 1-year high of $20.00. The firm’s market capitalization is $810.79 million.

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SSW has been the subject of several recent analyst reports. Seaport Global Securities reaffirmed a “neutral” rating on shares of Seaspan Corporation in a research report on Thursday, January 19th. TheStreet cut shares of Seaspan Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 31st. Morgan Stanley initiated coverage on shares of Seaspan Corporation in a research report on Wednesday, February 1st. They set an “underweight” rating and a $4.50 price objective for the company. Citigroup Inc. cut shares of Seaspan Corporation from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $12.00 to $7.00 in a research report on Thursday, November 3rd. Finally, Janney Montgomery Scott initiated coverage on shares of Seaspan Corporation in a research report on Thursday, December 1st. They set a “neutral” rating and a $10.00 price objective for the company. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.79.

About Seaspan Corporation

Seaspan Corporation is an independent charter owner and manager of containerships. It charters pursuant to long-term, fixed-rate time charters with various container liner companies. It operates a fleet of approximately 90 containerships. Its operating vessels include YM Wish, YM Wellhead, YM Witness, CSCL Manzanillo and Guayaquil Bridge.

5 Day Chart for NYSE:SSW

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