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

Two Sigma Investments LP lowered its stake in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 15.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Banque Transatlantique SA acquired a new position in shares of 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 valued at $29,000. New Age Alpha Advisors LLC acquired a new position in Genco Shipping & Trading during the 4th quarter valued at about $56,000. Mariner LLC acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $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. Institutional investors and hedge funds own 58.62% of the company's stock.

Analyst Upgrades and Downgrades

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

Genco Shipping & Trading Stock Up 1.2%

NYSE GNK traded up $0.16 during trading hours on Friday, hitting $13.25. 152,524 shares of the company traded hands, compared to its average volume of 547,546. The stock has a market capitalization of $569.12 million, a price-to-earnings ratio of 7.58, a P/E/G ratio of 5.64 and a beta of 1.17. Genco Shipping & Trading Limited has a twelve month low of $11.20 and a twelve month high of $22.68. The business's 50-day moving average is $13.10 and its 200-day moving average is $14.17. 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 released its quarterly earnings data on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $41.64 million during the quarter, compared to the consensus estimate of $43.49 million. During the same quarter in the prior year, the company earned $0.49 EPS. Genco Shipping & Trading's quarterly revenue was down 39.3% on a year-over-year basis. Sell-side analysts anticipate that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Announces Dividend

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

Genco Shipping & Trading Company 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.