Point72 Asset Management L.P. Sells 19,861 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

Point72 Asset Management L.P. reduced its stake in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 78.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,578 shares of the shipping company's stock after selling 19,861 shares during the period. Point72 Asset Management L.P.'s holdings in Genco Shipping & Trading were worth $78,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GNK. Barclays PLC grew its stake in Genco Shipping & Trading by 499.7% in the third quarter. Barclays PLC now owns 103,387 shares of the shipping company's stock valued at $2,016,000 after purchasing an additional 86,147 shares in the last quarter. Nisa Investment Advisors LLC grew its stake 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 buying an additional 9,847 shares in the last quarter. SG Americas Securities LLC increased its holdings in Genco Shipping & Trading by 11.8% in the fourth quarter. SG Americas Securities LLC now owns 29,881 shares of the shipping company's stock worth $417,000 after buying an additional 3,142 shares during the last quarter. Inspire Investing LLC raised its position in Genco Shipping & Trading by 35.2% during the fourth quarter. Inspire Investing LLC now owns 28,633 shares of the shipping company's stock valued at $399,000 after acquiring an additional 7,457 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in Genco Shipping & Trading by 22.6% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 33,330 shares of the shipping company's stock valued at $465,000 after acquiring an additional 6,150 shares in the last quarter. 58.62% of the stock is owned by institutional investors and hedge funds.

Genco Shipping & Trading Stock Performance

Genco Shipping & Trading stock traded up $0.16 on Friday, reaching $13.25. 128,599 shares of the stock were exchanged, compared to its average volume of 547,454. 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 twelve month low of $11.20 and a twelve month high of $22.68. The firm has a fifty day moving average price of $13.10 and a two-hundred day moving average price of $14.17. The stock has a market cap of $569.21 million, a PE ratio of 7.57, a PEG ratio of 5.64 and a beta of 1.17.

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

Genco Shipping & Trading Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.15 per share. 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 (DPR) is presently 57.69%.

Analyst Upgrades and Downgrades

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

Genco Shipping & Trading 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.