BNP Paribas Financial Markets raised its position in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 81.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,130 shares of the shipping company's stock after acquiring an additional 20,661 shares during the quarter. BNP Paribas Financial Markets owned 0.11% of Genco Shipping & Trading worth $643,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Barclays PLC grew 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 in the last quarter. Nisa Investment Advisors LLC boosted its position 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 valued at $154,000 after buying an additional 9,847 shares during the last quarter. SG Americas Securities LLC boosted its position in Genco Shipping & Trading by 11.8% in the 4th quarter. SG Americas Securities LLC now owns 29,881 shares of the shipping company's stock valued at $417,000 after buying an additional 3,142 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Genco Shipping & Trading by 35.2% during the fourth quarter. Inspire Investing LLC now owns 28,633 shares of the shipping company's stock valued at $399,000 after acquiring an additional 7,457 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased its position in shares of Genco Shipping & Trading by 22.6% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 33,330 shares of the shipping company's stock worth $465,000 after acquiring an additional 6,150 shares during the last quarter. Institutional investors and hedge funds own 58.62% of the company's stock.
Genco Shipping & Trading Stock Performance
Shares of NYSE GNK traded up $0.01 during trading on Tuesday, reaching $13.28. The stock had a trading volume of 715,570 shares, compared to its average volume of 547,789. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. The stock has a market cap of $570.50 million, a PE ratio of 7.59, a P/E/G ratio of 5.64 and a beta of 1.17. Genco Shipping & Trading Limited has a one year low of $11.20 and a one year high of $22.68. The firm's 50 day moving average price is $13.14 and its two-hundred day moving average price is $14.22.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The shipping company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). The business had revenue of $41.64 million during the quarter, compared to analyst estimates of $43.49 million. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The business's revenue for the quarter was down 39.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. On average, research analysts forecast that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.
Genco Shipping & Trading Dividend Announcement
The firm also recently disclosed a dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 23rd will be given a dividend of $0.15 per share. This represents a dividend yield of 4.28%. The ex-dividend date is Thursday, May 22nd. Genco Shipping & Trading's dividend payout ratio is presently 57.69%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on GNK. Wall Street Zen lowered Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Pareto Securities upgraded shares of Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday, March 31st. Dnb Nor Markets raised shares of Genco Shipping & Trading to a "strong-buy" rating in a report on Thursday, May 1st. Finally, Jefferies Financial Group reissued a "buy" rating and set a $17.00 price objective on shares of Genco Shipping & Trading in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Genco Shipping & Trading currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.75.
View Our Latest Stock Report on GNK
Genco Shipping & Trading Company Profile
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Free Report)
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.
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