D. E. Shaw & Co. Inc. Acquires 106,265 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

D. E. Shaw & Co. Inc. increased its stake in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 209.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 157,021 shares of the shipping company's stock after acquiring an additional 106,265 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.37% of Genco Shipping & Trading worth $2,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GNK. Banque Transatlantique SA acquired a new position in Genco Shipping & Trading during the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at approximately $29,000. New Age Alpha Advisors LLC acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at approximately $56,000. Mariner LLC acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at approximately $147,000. Finally, Nisa Investment Advisors LLC raised 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 valued at $154,000 after purchasing an additional 9,847 shares in the last quarter. 58.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Genco Shipping & Trading

In other news, CAO Joseph Adamo sold 6,226 shares of the firm'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 $86,914.96. Following the completion of the transaction, the chief accounting officer now owns 26,829 shares in the company, valued at approximately $374,532.84. This trade represents a 18.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Peter George Allen sold 8,984 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was 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 approximately $631,703.96. The trade was a 16.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,812 shares of company stock worth $402,216 in the last 90 days. Corporate insiders own 2.37% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GNK. Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a research report on Monday, March 31st. 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. Wall Street Zen lowered Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research report on Wednesday. Finally, Dnb Nor Markets raised Genco Shipping & Trading to a "strong-buy" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.

Genco Shipping & Trading Stock Performance

Shares of Genco Shipping & Trading stock traded up $0.23 during trading on Friday, hitting $13.27. 649,818 shares of the stock were exchanged, compared to its average volume of 547,499. The stock's fifty day moving average is $13.15 and its 200 day moving average is $14.29. The stock has a market cap of $569.85 million, a PE ratio of 7.58, a P/E/G ratio of 5.64 and a beta of 1.17. 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 12 month low of $11.20 and a 12 month high of $22.68.

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

Genco Shipping & Trading Dividend Announcement

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

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.