368,324 Shares in Genco Shipping & Trading Limited (NYSE:GNK) Purchased by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. acquired a significant stake in Genco Shipping & Trading, purchasing 368,324 shares valued at approximately $4.9 million, representing about 0.86% of the company's total shares.
• Genco Shipping & Trading has recently experienced mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $18.67.
• The company announced a quarterly dividend of $0.15 per share, yielding approximately 4.28%, with a payout ratio of 57.69%.

Pacer Advisors Inc. bought a new position in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 368,324 shares of the shipping company's stock, valued at approximately $4,921,000. Pacer Advisors Inc. owned about 0.86% of Genco Shipping & Trading at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GNK. Banque Transatlantique SA purchased a new position in shares of Genco Shipping & Trading in the fourth quarter valued at $28,000. New Age Alpha Advisors LLC purchased a new stake in shares of Genco Shipping & Trading in the fourth quarter worth about $56,000. GAMMA Investing LLC boosted its position in shares of Genco Shipping & Trading by 1,119.1% in the first quarter. GAMMA Investing LLC now owns 4,462 shares of the shipping company's stock valued at $60,000 after acquiring an additional 4,096 shares during the period. Randolph Co Inc purchased a new position in Genco Shipping & Trading during the first quarter valued at approximately $134,000. Finally, Mariner LLC bought a new stake in Genco Shipping & Trading during the 4th quarter worth approximately $147,000. 58.62% of the stock is currently owned by institutional investors.

Genco Shipping & Trading Price Performance

Shares of Genco Shipping & Trading stock traded down $0.12 on Friday, hitting $15.81. 171,752 shares of the company traded hands, compared to its average volume of 691,102. Genco Shipping & Trading Limited has a 12-month low of $11.20 and a 12-month high of $19.51. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.09. The company has a market cap of $679.20 million, a P/E ratio of 15.20 and a beta of 1.18. The firm's 50-day simple moving average is $14.07 and its 200 day simple moving average is $13.84.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). Genco Shipping & Trading had a net margin of 12.12% and a return on equity of 4.22%. The firm had revenue of $41.64 million for the quarter, compared to analysts' expectations of $43.49 million. During the same quarter in the previous year, the business earned $0.49 EPS. The company's revenue for the quarter was down 39.3% on a year-over-year basis. Analysts expect that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 23rd were given a dividend of $0.15 per share. This represents a yield of 428.0%. The ex-dividend date was Thursday, May 22nd. Genco Shipping & Trading's dividend payout ratio (DPR) is presently 57.69%.

Analyst Upgrades and Downgrades

Several brokerages have commented on GNK. Wall Street Zen downgraded shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Dnb Nor Markets raised Genco Shipping & Trading to a "strong-buy" rating in a research note on Thursday, May 1st. Finally, Jefferies Financial Group restated a "buy" rating and issued a $17.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.67.

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.