Squarepoint Ops LLC Acquires 71,122 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

Squarepoint Ops LLC grew its holdings in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 55.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 198,673 shares of the shipping company's stock after buying an additional 71,122 shares during the quarter. Squarepoint Ops LLC owned 0.46% of Genco Shipping & Trading worth $2,770,000 as of its most recent filing with the SEC.

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

Genco Shipping & Trading Stock Up 1.1%

GNK traded up $0.15 on Friday, hitting $13.24. 1,711,897 shares of the company were exchanged, compared to its average volume of 553,712. 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's fifty day moving average is $13.10 and its 200-day moving average is $14.17. The company has a market cap of $568.78 million, a PE ratio of 7.57, a PEG ratio of 5.64 and a beta of 1.17. 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 released its quarterly earnings data on Wednesday, May 7th. The shipping company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company had revenue of $41.64 million during the quarter, compared to analyst estimates of $43.49 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The company's quarterly revenue was down 39.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. Equities research analysts predict that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GNK shares. Dnb Nor Markets raised Genco Shipping & Trading to a "strong-buy" rating in a research note on Thursday, May 1st. Wall Street Zen cut shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Pareto Securities upgraded Genco Shipping & Trading to a "strong-buy" rating in a report on Monday, March 31st. Finally, Jefferies Financial Group restated a "buy" rating and issued a $17.00 price target on shares of Genco Shipping & Trading in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.75.

About Genco Shipping & Trading

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.