Marshall Wace LLP Takes $797,000 Position in Genco Shipping & Trading Limited (NYSE:GNK)

Marshall Wace LLP acquired a new stake in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 57,181 shares of the shipping company's stock, valued at approximately $797,000. Marshall Wace LLP owned approximately 0.13% of Genco Shipping & Trading as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Genco Shipping & Trading during the fourth quarter valued at about $29,000. New Age Alpha Advisors LLC purchased a new stake in Genco Shipping & Trading during the 4th quarter valued at about $56,000. Mariner LLC bought a new position in Genco Shipping & Trading during the 4th quarter worth approximately $147,000. Nisa Investment Advisors LLC increased its stake in Genco Shipping & Trading by 830.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company's stock worth $154,000 after purchasing an additional 9,847 shares during the period. Finally, AXQ Capital LP bought a new stake in Genco Shipping & Trading in the fourth quarter valued at approximately $162,000. Hedge funds and other institutional investors own 58.62% of the company's stock.

Genco Shipping & Trading Trading Up 0.5 %

NYSE GNK traded up $0.07 during trading on Tuesday, hitting $13.65. The company had a trading volume of 32,301 shares, compared to its average volume of 652,996. The company's fifty day moving average is $13.20 and its 200-day moving average is $14.47. The company has a market cap of $586.22 million, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 5.64 and a beta of 1.17. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. Genco Shipping & Trading Limited has a one year low of $11.20 and a one year high of $23.43.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.27). The company had revenue of $67.95 million during the quarter, compared to the consensus estimate of $67.36 million. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. On average, sell-side analysts predict that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 8.79%. Genco Shipping & Trading's dividend payout ratio is presently 68.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GNK. Jefferies Financial Group cut their target price on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Dnb Nor Markets raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research note on Thursday, May 1st. Finally, Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday, March 31st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Genco Shipping & Trading currently has a consensus rating of "Buy" and a consensus price target of $23.00.

Insider Buying and Selling

In related news, CAO Joseph Adamo sold 6,226 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $86,914.96. Following the sale, the chief accounting officer now owns 26,829 shares of the company's stock, valued at $374,532.84. The trade was a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jesper Christensen sold 13,602 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $189,883.92. Following the transaction, the insider now directly owns 57,322 shares of the company's stock, valued at $800,215.12. This represents a 19.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,812 shares of company stock valued at $402,216 over the last ninety days. Company insiders own 2.50% of the company's stock.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.