20,607 Shares in Genco Shipping & Trading Limited (NYSE:GNK) Bought by Stifel Financial Corp

Stifel Financial Corp bought a new stake in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,607 shares of the shipping company's stock, valued at approximately $287,000.

A number of other institutional investors also recently modified their holdings of GNK. Teacher Retirement System of Texas acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $3,692,000. Barclays PLC raised its holdings in shares of Genco Shipping & Trading by 173.3% in the 4th quarter. Barclays PLC now owns 282,603 shares of the shipping company's stock valued at $3,940,000 after purchasing an additional 179,216 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Genco Shipping & Trading by 155.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company's stock valued at $5,559,000 after purchasing an additional 173,270 shares during the period. Royce & Associates LP raised its holdings in shares of Genco Shipping & Trading by 23.9% in the 4th quarter. Royce & Associates LP now owns 597,860 shares of the shipping company's stock valued at $8,334,000 after purchasing an additional 115,173 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Genco Shipping & Trading by 8.9% in the 4th quarter. American Century Companies Inc. now owns 1,361,597 shares of the shipping company's stock valued at $18,981,000 after purchasing an additional 111,564 shares during the period. Institutional investors own 58.62% of the company's stock.

Insider Buying and Selling at Genco Shipping & Trading

In other news, CAO Joseph Adamo sold 6,226 shares of Genco Shipping & Trading stock in a transaction on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $86,914.96. Following the completion of the sale, the chief accounting officer now directly owns 26,829 shares of the company's stock, valued at approximately $374,532.84. The trade was a 18.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Peter George Allen sold 8,984 shares of Genco Shipping & Trading stock in a transaction on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $125,416.64. Following the completion of the sale, the chief financial officer now directly owns 45,251 shares of the company's stock, valued at $631,703.96. The trade was a 16.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,812 shares of company stock worth $402,216. 2.37% of the stock is currently owned by insiders.

Genco Shipping & Trading Stock Performance

Shares of NYSE GNK traded down $0.05 during trading on Tuesday, hitting $13.98. The company had a trading volume of 26,532 shares, compared to its average volume of 546,268. The stock has a 50 day simple moving average of $13.18 and a 200 day simple moving average of $14.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. Genco Shipping & Trading Limited has a 12 month low of $11.20 and a 12 month high of $23.39. The firm has a market capitalization of $600.39 million, a P/E ratio of 8.01, a price-to-earnings-growth ratio of 5.64 and a beta of 1.17.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The firm had revenue of $41.64 million for the quarter, compared to analysts' expectations of $43.49 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The business's quarterly revenue was down 39.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. As a group, analysts anticipate that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 23rd will be given a $0.15 dividend. This represents a dividend yield of 4.28%. The ex-dividend date is Thursday, May 22nd. Genco Shipping & Trading's payout ratio is 57.69%.

Wall Street Analyst Weigh In

Several research firms have weighed in on GNK. StockNews.com cut shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Pareto Securities raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday, March 31st. Dnb Nor Markets upgraded Genco Shipping & Trading to a "strong-buy" rating in a research note on Thursday, May 1st. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $17.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.75.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, bauxite, steel products, and other drybulk cargoes. It operates through the Major Bulk and Minor Bulk segments. The Major Bulk segment focuses on Capesize vessels. The Minor Bulk segment consists of Ultramax and Supramax vessels.