Genco Shipping & Trading Limited (NYSE:GNK) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC cut its holdings in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 93.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,022 shares of the shipping company's stock after selling 168,379 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Genco Shipping & Trading were worth $154,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GNK. Banque Transatlantique SA purchased a new stake in shares of Genco Shipping & Trading in the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new stake in Genco Shipping & Trading during the fourth quarter worth $29,000. New Age Alpha Advisors LLC purchased a new stake in Genco Shipping & Trading during the fourth quarter worth $56,000. Mariner LLC purchased a new stake in Genco Shipping & Trading during the fourth quarter worth $147,000. Finally, Nisa Investment Advisors LLC boosted its position in 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 in the last quarter. 58.62% of the stock is currently owned by hedge funds and other institutional investors.

Genco Shipping & Trading Price Performance

Shares of NYSE GNK traded up $0.23 during trading on Friday, reaching $13.27. The company had a trading volume of 649,818 shares, compared to its average volume of 547,115. Genco Shipping & Trading Limited has a twelve month low of $11.20 and a twelve month high of $22.68. The stock 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. The stock has a 50-day moving average price of $13.15 and a two-hundred day moving average price of $14.27. 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 (NYSE:GNK - Get Free Report) last released its earnings results 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 business 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 business's revenue for the quarter was down 39.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. As a group, sell-side analysts predict that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Announces Dividend

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

Insider Buying and Selling at Genco Shipping & Trading

In other Genco Shipping & Trading news, CFO Peter George Allen sold 8,984 shares of the business'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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Joseph Adamo sold 6,226 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $86,914.96. Following the sale, the chief accounting officer now directly owns 26,829 shares of the company's stock, valued at approximately $374,532.84. This trade represents a 18.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,812 shares of company stock valued at $402,216. Company insiders own 2.37% of the company's stock.

Wall Street Analyst Weigh In

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