Barclays PLC Has $3.94 Million Stock Position in Genco Shipping & Trading Limited (NYSE:GNK)

Barclays PLC raised its stake in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 173.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,603 shares of the shipping company's stock after acquiring an additional 179,216 shares during the period. Barclays PLC owned 0.66% of Genco Shipping & Trading worth $3,940,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GNK. Raymond James Financial Inc. bought a new position in Genco Shipping & Trading in the 4th quarter worth approximately $332,000. Legal & General Group Plc raised its holdings in Genco Shipping & Trading by 3.9% during the fourth quarter. Legal & General Group Plc now owns 42,402 shares of the shipping company's stock worth $591,000 after purchasing an additional 1,607 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Genco Shipping & Trading by 1.8% during the 4th quarter. Wells Fargo & Company MN now owns 57,506 shares of the shipping company's stock valued at $802,000 after purchasing an additional 1,040 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Genco Shipping & Trading by 8.6% in the 4th quarter. Foundry Partners LLC now owns 365,255 shares of the shipping company's stock worth $5,092,000 after buying an additional 28,795 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Genco Shipping & Trading by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 990,357 shares of the shipping company's stock valued at $13,809,000 after acquiring an additional 10,260 shares during the last quarter. Institutional investors and hedge funds own 58.62% of the company's stock.

Insider Transactions at Genco Shipping & Trading

In related news, 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 transaction, the chief financial officer now owns 45,251 shares in the company, valued at $631,703.96. This trade represents a 16.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jesper Christensen sold 13,602 shares of the company'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 $189,883.92. Following the sale, the insider now owns 57,322 shares of the company's stock, valued at $800,215.12. This trade represents a 19.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,812 shares of company stock worth $402,216. 2.50% of the stock is owned by corporate insiders.

Genco Shipping & Trading Stock Up 1.2 %

Shares of NYSE GNK traded up $0.16 during trading hours on Friday, hitting $13.52. The stock had a trading volume of 88,306 shares, compared to its average volume of 555,537. The company has a market capitalization of $580.59 million, a P/E ratio of 7.71, a P/E/G ratio of 5.64 and a beta of 0.96. The firm's 50-day moving average price is $13.23 and its two-hundred day moving average price is $14.55. 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 52 week low of $11.20 and a 52 week high of $23.43.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.27). Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The business had revenue of $67.95 million for the quarter, compared to analyst estimates of $67.36 million. Analysts anticipate that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.88%. Genco Shipping & Trading's dividend payout ratio is currently 68.57%.

Wall Street Analyst Weigh In

GNK has been the subject of a number of recent research reports. Jefferies Financial Group cut their price objective on Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday, March 31st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $23.00.

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.