Genco Shipping & Trading Limited (NYSE:GNK) Shares Acquired by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lifted its position in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 209.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,021 shares of the shipping company's stock after acquiring an additional 106,265 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.37% of Genco Shipping & Trading worth $2,189,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new stake in Genco Shipping & Trading in the 4th quarter worth about $28,000. R Squared Ltd bought a new position in shares of Genco Shipping & Trading during the fourth quarter valued at approximately $29,000. New Age Alpha Advisors LLC purchased a new stake in shares of Genco Shipping & Trading in the fourth quarter worth approximately $56,000. Mariner LLC bought a new stake in shares of Genco Shipping & Trading during the 4th quarter worth approximately $147,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Genco Shipping & Trading by 830.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company's stock valued at $154,000 after acquiring an additional 9,847 shares during the period. 58.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on GNK shares. Jefferies Financial Group reiterated a "buy" rating and issued a $17.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. Pareto Securities upgraded 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 report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $20.75.

Genco Shipping & Trading Stock Up 1.7%

NYSE:GNK traded up $0.23 during mid-day trading on Monday, reaching $13.27. The company's stock had a trading volume of 649,818 shares, compared to its average volume of 547,115. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. Genco Shipping & Trading Limited has a 1 year low of $11.20 and a 1 year high of $22.68. The stock has a fifty day moving average of $13.14 and a 200-day moving average of $14.22. The firm has a market capitalization of $569.85 million, a PE ratio of 7.58, a price-to-earnings-growth ratio of 5.64 and a beta of 1.17.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings data 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 business had revenue of $41.64 million for 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%. Genco Shipping & Trading's revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 earnings per share. Equities research analysts forecast that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 23rd will be issued 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 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.