Raiffeisen Bank International AG Buys New Position in Genco Shipping & Trading Limited (NYSE:GNK)

Raiffeisen Bank International AG acquired a new position in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 42,750 shares of the shipping company's stock, valued at approximately $591,000. Raiffeisen Bank International AG owned approximately 0.10% of Genco Shipping & Trading at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in shares of Genco Shipping & Trading during the fourth quarter worth about $28,000. R Squared Ltd acquired a new stake in Genco Shipping & Trading during the fourth quarter valued at approximately $29,000. New Age Alpha Advisors LLC bought a new position in Genco Shipping & Trading during the 4th quarter worth approximately $56,000. Mariner LLC acquired a new position in shares of Genco Shipping & Trading in the 4th quarter worth approximately $147,000. Finally, Nisa Investment Advisors LLC grew its position in shares of 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 acquiring an additional 9,847 shares in the last quarter. 58.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reissued a "buy" rating and set a $17.00 price target on shares of Genco Shipping & Trading in a research report on Thursday, May 8th. Pareto Securities raised shares of Genco Shipping & Trading to a "strong-buy" rating in a report on Monday, March 31st. Dnb Nor Markets upgraded shares of Genco Shipping & Trading to a "strong-buy" rating in a research report on Thursday, May 1st. Finally, StockNews.com downgraded shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.

Genco Shipping & Trading Stock Performance

GNK traded down $0.45 during trading on Wednesday, reaching $13.51. 513,515 shares of the company were exchanged, compared to its average volume of 547,435. Genco Shipping & Trading Limited has a 52 week low of $11.20 and a 52 week high of $22.68. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $13.17 and a 200 day moving average of $14.33. The stock has a market cap of $580.16 million, a P/E ratio of 7.72, a PEG 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) EPS 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 the consensus estimate of $43.49 million. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The firm's revenue was down 39.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS. On average, sell-side analysts forecast that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Announces Dividend

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

Insider Activity

In other news, insider Jesper Christensen sold 13,602 shares of the company'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 value of $189,883.92. Following the completion of the sale, the insider now directly owns 57,322 shares of the company's stock, valued at approximately $800,215.12. This represents a 19.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Peter George Allen sold 8,984 shares of the 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 $125,416.64. Following the completion of the transaction, the chief financial officer now owns 45,251 shares of the company's stock, valued at $631,703.96. This trade represents a 16.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,812 shares of company stock valued at $402,216. Insiders own 2.37% of the company's stock.

Genco Shipping & Trading Company Profile

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.