Graham Capital Wealth Management LLC Purchases New Position in Genco Shipping & Trading Limited $GNK

Key Points

• Graham Capital Wealth Management bought 94,519 shares of Genco Shipping & Trading (NYSE:GNK) in Q4 — about $1.74M — making GNK 1.6% of Graham Capital’s portfolio and representing 0.22% ownership of the company.
• Genco raised its quarterly dividend to $0.50 (from $0.15), an annualized $2.00 payout and roughly an 8.4% yield.
• Genco beat Q4 estimates with EPS of $0.39 versus $0.35 and revenue of $109.9M versus $78.5M (revenue +10.8% YoY); the stock trades near its 12‑month high with a market cap around $1.04B.

Graham Capital Wealth Management LLC purchased a new stake in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 94,519 shares of the shipping company's stock, valued at approximately $1,742,000. Genco Shipping & Trading makes up 1.6% of Graham Capital Wealth Management LLC's portfolio, making the stock its 25th biggest position. Graham Capital Wealth Management LLC owned 0.22% of Genco Shipping & Trading at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Bank of America Corp DE raised its position in Genco Shipping & Trading by 2.3% during the third quarter. Bank of America Corp DE now owns 34,970 shares of the shipping company's stock valued at $622,000 after acquiring an additional 779 shares in the last quarter. CWM LLC grew its holdings in Genco Shipping & Trading by 61.4% in the third quarter. CWM LLC now owns 2,843 shares of the shipping company's stock valued at $51,000 after purchasing an additional 1,082 shares during the period. PNC Financial Services Group Inc. grew its holdings in Genco Shipping & Trading by 58.2% in the third quarter. PNC Financial Services Group Inc. now owns 3,073 shares of the shipping company's stock valued at $55,000 after purchasing an additional 1,131 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Genco Shipping & Trading by 11.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,695 shares of the shipping company's stock valued at $219,000 after purchasing an additional 1,262 shares during the period. Finally, Legal & General Group Plc grew its holdings in Genco Shipping & Trading by 3.3% in the third quarter. Legal & General Group Plc now owns 43,605 shares of the shipping company's stock valued at $776,000 after purchasing an additional 1,381 shares during the period. 58.62% of the stock is currently owned by hedge funds and other institutional investors.

Genco Shipping & Trading Stock Down 1.0%

Shares of GNK opened at $23.95 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. Genco Shipping & Trading Limited has a 12 month low of $11.20 and a 12 month high of $24.81. The stock's 50 day moving average is $22.27 and its two-hundred day moving average is $19.51. The firm has a market cap of $1.04 billion, a P/E ratio of -217.71, a PEG ratio of 5.54 and a beta of 1.17.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The shipping company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. The company had revenue of $109.92 million for the quarter, compared to analyst estimates of $78.52 million. Genco Shipping & Trading had a negative return on equity of 0.12% and a negative net margin of 1.28%.Genco Shipping & Trading's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. Analysts predict that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 11th were paid a $0.50 dividend. This is a boost from Genco Shipping & Trading's previous quarterly dividend of $0.15. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date of this dividend was Wednesday, March 11th. Genco Shipping & Trading's dividend payout ratio is presently -1,818.18%.

Analysts Set New Price Targets

Several brokerages have commented on GNK. Zacks Research lowered Genco Shipping & Trading from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Wall Street Zen lowered Genco Shipping & Trading from a "hold" rating to a "sell" rating in a report on Sunday, December 14th. Weiss Ratings reissued a "hold (c-)" rating on shares of Genco Shipping & Trading in a report on Friday, March 27th. Finally, Alliance Global Partners lowered Genco Shipping & Trading from a "buy" rating to a "neutral" rating in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $21.00.

Insider Transactions at Genco Shipping & Trading

In other news, CAO Joseph Adamo sold 6,340 shares of Genco Shipping & Trading stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $23.67, for a total value of $150,067.80. Following the sale, the chief accounting officer directly owned 38,519 shares of the company's stock, valued at $911,744.73. The trade was a 14.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jesper Christensen sold 18,450 shares of Genco Shipping & Trading stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $23.66, for a total value of $436,527.00. Following the completion of the sale, the insider directly owned 98,299 shares in the company, valued at $2,325,754.34. This represents a 15.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,824 shares of company stock valued at $1,313,949 over the last ninety days. Insiders own 2.37% of the company's stock.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company's fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco's focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.

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