Squarepoint Ops LLC raised its position in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 55.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 198,673 shares of the shipping company's stock after purchasing an additional 71,122 shares during the period. Squarepoint Ops LLC owned 0.46% of Genco Shipping & Trading worth $2,770,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GNK. Banque Transatlantique SA purchased a new position in Genco Shipping & Trading in the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new stake in shares of Genco Shipping & Trading in the 4th quarter worth $29,000. New Age Alpha Advisors LLC acquired a new stake in shares of Genco Shipping & Trading in the 4th quarter worth $56,000. Mariner LLC purchased a new position in shares of Genco Shipping & Trading during the 4th quarter worth $147,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of 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 last quarter. Institutional investors and hedge funds own 58.62% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. Jefferies Financial Group reaffirmed a "buy" rating and set a $17.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. Wall Street Zen lowered shares of 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 report on Thursday, May 1st. Finally, Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday, March 31st. 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.75.
Check Out Our Latest Stock Analysis on GNK
Genco Shipping & Trading Trading Up 1.1%
Genco Shipping & Trading stock traded up $0.15 during trading on Friday, hitting $13.24. The company had a trading volume of 1,711,897 shares, compared to its average volume of 553,796. The stock has a market cap of $568.78 million, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 5.64 and a beta of 1.17. The company has a current ratio of 3.09, a quick ratio of 2.49 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 company's 50 day simple moving average is $13.09 and its 200-day simple moving average is $14.09.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last issued its quarterly earnings data 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). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The firm had revenue of $41.64 million during the quarter, compared to analyst estimates of $43.49 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The company's quarterly revenue was down 39.3% compared to the same quarter last year. As a group, analysts expect that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.
Genco Shipping & Trading Dividend Announcement
The firm also recently declared a dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, May 22nd. This represents a yield of 4.28%. Genco Shipping & Trading's dividend payout ratio (DPR) is presently 57.69%.
About Genco Shipping & Trading
(
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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