Lazard Asset Management LLC lifted its stake in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 41.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,568 shares of the shipping company's stock after buying an additional 20,455 shares during the quarter. Lazard Asset Management LLC owned approximately 0.16% of Genco Shipping & Trading worth $969,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in Genco Shipping & Trading during the fourth quarter worth $28,000. R Squared Ltd acquired a new position in shares of Genco Shipping & Trading in the fourth quarter worth about $29,000. New Age Alpha Advisors LLC purchased a new stake in shares of Genco Shipping & Trading during the 4th quarter worth about $56,000. Mariner LLC acquired a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at about $147,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Genco Shipping & Trading by 830.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company's stock valued at $154,000 after acquiring an additional 9,847 shares during the period. 58.62% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on GNK. Wall Street Zen cut Genco Shipping & Trading from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. 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 raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Genco Shipping & Trading presently has a consensus rating of "Moderate Buy" and an average target price of $20.75.
Check Out Our Latest Research Report on GNK
Genco Shipping & Trading Price Performance
Shares of NYSE GNK traded up $0.23 during midday trading on Monday, hitting $13.27. The stock had a trading volume of 649,818 shares, compared to its average volume of 547,115. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $13.14 and a 200-day simple moving average of $14.22. The company has a market capitalization of $569.85 million, a PE ratio of 7.58, a P/E/G ratio of 5.64 and a beta of 1.17. Genco Shipping & Trading Limited has a 1 year low of $11.20 and a 1 year high of $22.68.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last announced its earnings results 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 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 last year, the firm earned $0.49 EPS. The company's revenue for the quarter was down 39.3% compared to the same quarter last year. On average, sell-side analysts expect that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.
Genco Shipping & Trading Dividend Announcement
The firm also recently declared a dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 23rd will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, May 22nd. This represents a yield of 4.28%. Genco Shipping & Trading's payout ratio is presently 57.69%.
About Genco Shipping & Trading
(
Free Report)
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.
Featured Stories
Before you consider Genco Shipping & Trading, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Genco Shipping & Trading wasn't on the list.
While Genco Shipping & Trading currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
