Two Sigma Investments LP Sells 107,272 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

Two Sigma Investments LP decreased its position in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 572,768 shares of the shipping company's stock after selling 107,272 shares during the period. Two Sigma Investments LP owned approximately 1.34% of Genco Shipping & Trading worth $7,984,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new stake in Genco Shipping & Trading in the fourth quarter worth $3,692,000. Barclays PLC grew its stake in shares of Genco Shipping & Trading by 173.3% in the 4th quarter. Barclays PLC now owns 282,603 shares of the shipping company's stock worth $3,940,000 after buying an additional 179,216 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Genco Shipping & Trading by 23.9% in the 4th quarter. Royce & Associates LP now owns 597,860 shares of the shipping company's stock worth $8,334,000 after buying an additional 115,173 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Genco Shipping & Trading by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 398,321 shares of the shipping company's stock worth $5,553,000 after buying an additional 113,230 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Genco Shipping & Trading by 8.9% during the 4th quarter. American Century Companies Inc. now owns 1,361,597 shares of the shipping company's stock valued at $18,981,000 after buying an additional 111,564 shares in the last quarter. 58.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Genco Shipping & Trading Trading Down 0.9%

NYSE GNK traded down $0.12 during trading on Thursday, hitting $13.01. The stock had a trading volume of 662,730 shares, compared to its average volume of 659,994. Genco Shipping & Trading Limited has a one year low of $11.20 and a one year high of $22.68. The stock has a 50 day simple moving average of $13.11 and a 200 day simple moving average of $14.20. The stock has a market capitalization of $558.68 million, a price-to-earnings ratio of 7.43, a P/E/G ratio of 5.64 and a beta of 1.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $43.49 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company's quarterly revenue was down 39.3% compared to the same quarter last year. 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. Stockholders of record on Friday, May 23rd will be given 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 57.69%.

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.