Two Sigma Advisers LP trimmed its holdings in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 10.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 788,700 shares of the shipping company's stock after selling 89,200 shares during the period. Two Sigma Advisers LP owned about 1.84% of Genco Shipping & Trading worth $10,994,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. LPL Financial LLC raised its stake in shares of Genco Shipping & Trading by 3.1% during the 4th quarter. LPL Financial LLC now owns 24,566 shares of the shipping company's stock worth $342,000 after purchasing an additional 736 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Genco Shipping & Trading by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,001 shares of the shipping company's stock worth $335,000 after acquiring an additional 924 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Genco Shipping & Trading by 1.8% in the 4th quarter. Wells Fargo & Company MN now owns 57,506 shares of the shipping company's stock worth $802,000 after acquiring an additional 1,040 shares during the last quarter. Legal & General Group Plc increased its holdings in Genco Shipping & Trading by 3.9% in the 4th quarter. Legal & General Group Plc now owns 42,402 shares of the shipping company's stock worth $591,000 after acquiring an additional 1,607 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Genco Shipping & Trading by 2.7% in the 4th quarter. Rhumbline Advisers now owns 68,136 shares of the shipping company's stock worth $950,000 after acquiring an additional 1,800 shares during the last quarter. 58.62% of the stock is currently owned by institutional investors.
Genco Shipping & Trading Price Performance
GNK stock traded down $0.13 during mid-day trading on Wednesday, reaching $13.15. 178,550 shares of the company traded hands, compared to its average volume of 546,369. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. The company has a market capitalization of $564.91 million, a P/E ratio of 7.51, a P/E/G ratio of 5.64 and a beta of 1.17. Genco Shipping & Trading Limited has a 52-week low of $11.20 and a 52-week high of $22.68. The company has a fifty day moving average price of $13.12 and a 200-day moving average price of $14.21.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). The company had revenue of $41.64 million for the quarter, compared to analysts' expectations of $43.49 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The firm's quarterly revenue was down 39.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS. As a group, analysts anticipate that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.
Genco Shipping & Trading Dividend Announcement
The firm also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 23rd will be issued 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 payout ratio is 57.69%.
Analyst Ratings Changes
Several brokerages recently weighed in on GNK. Dnb Nor Markets raised Genco Shipping & Trading to a "strong-buy" rating in a report on Thursday, May 1st. Jefferies Financial Group reissued a "buy" rating and issued a $17.00 price objective on shares of Genco Shipping & Trading in a report on Thursday, May 8th. Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a report on Monday, March 31st. Finally, Wall Street Zen lowered Genco Shipping & Trading from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Genco Shipping & Trading has a consensus rating of "Moderate Buy" and an average price target of $20.75.
Get Our Latest Stock Analysis on Genco Shipping & Trading
Genco Shipping & Trading 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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