BNP Paribas Financial Markets Has $643,000 Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

BNP Paribas Financial Markets raised its holdings in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 81.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,130 shares of the shipping company's stock after purchasing an additional 20,661 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.11% of Genco Shipping & Trading worth $643,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Genco Shipping & Trading during the 4th quarter valued at $332,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Genco Shipping & Trading by 51.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,355 shares of the shipping company's stock valued at $911,000 after purchasing an additional 22,316 shares during the last quarter. Barclays PLC lifted its holdings in Genco Shipping & Trading by 499.7% during the 3rd quarter. Barclays PLC now owns 103,387 shares of the shipping company's stock valued at $2,016,000 after purchasing an additional 86,147 shares during the last quarter. Townsend & Associates Inc lifted its holdings in Genco Shipping & Trading by 2.2% during the 4th quarter. Townsend & Associates Inc now owns 1,071,959 shares of the shipping company's stock valued at $15,318,000 after purchasing an additional 23,101 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Genco Shipping & Trading by 80.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 198,764 shares of the shipping company's stock valued at $2,771,000 after purchasing an additional 88,538 shares during the last quarter. Institutional investors and hedge funds own 58.62% of the company's stock.

Genco Shipping & Trading Stock Performance

GNK stock traded down $0.07 during trading hours on Thursday, hitting $13.06. 1,191,736 shares of the stock were exchanged, compared to its average volume of 549,080. 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 market capitalization of $560.83 million, a P/E ratio of 7.46, a P/E/G ratio of 5.64 and a beta of 1.17. The company has a 50-day simple moving average of $13.10 and a two-hundred day simple moving average of $14.17. Genco Shipping & Trading Limited has a 12 month low of $11.20 and a 12 month high of $22.68.

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

Genco Shipping & Trading Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, May 30th. Investors 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 of this dividend is Thursday, May 22nd. Genco Shipping & Trading's payout ratio is currently 57.69%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $17.00 price target on shares of Genco Shipping & Trading in a report on Thursday, May 8th. Wall Street Zen cut Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Dnb Nor Markets upgraded Genco Shipping & Trading to a "strong-buy" rating in a research report on Thursday, May 1st. Finally, Pareto Securities upgraded Genco Shipping & Trading to a "strong-buy" rating in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.75.

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.