Raiffeisen Bank International AG Grows Stock Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Key Points

• Raiffeisen Bank International AG increased its stake in Genco Shipping & Trading by 39.6% in Q1, holding 59,681 shares worth $797,000.
• Genco Shipping reported a net margin of 12.12% and a loss of ($0.28) earnings per share, missing analyst expectations.
• The company declared a dividend of $0.15 per share, providing a remarkable yield of 428.0%.

Raiffeisen Bank International AG lifted its position in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,681 shares of the shipping company's stock after purchasing an additional 16,931 shares during the period. Raiffeisen Bank International AG owned about 0.14% of Genco Shipping & Trading worth $797,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Banque Transatlantique SA purchased a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $28,000. GAMMA Investing LLC grew its position in shares of Genco Shipping & Trading by 1,119.1% in the 1st quarter. GAMMA Investing LLC now owns 4,462 shares of the shipping company's stock valued at $60,000 after buying an additional 4,096 shares during the last quarter. Randolph Co Inc purchased a new position in shares of Genco Shipping & Trading in the 1st quarter valued at $134,000. Mariner LLC purchased a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $147,000. Finally, ProShare Advisors LLC purchased a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $166,000. 58.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Dnb Nor Markets raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research report on Thursday, May 1st. Wall Street Zen downgraded shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group reaffirmed 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 analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.67.

Genco Shipping & Trading Stock Performance

NYSE:GNK opened at $16.27 on Tuesday. The firm's fifty day moving average price is $14.24 and its 200 day moving average price is $13.87. Genco Shipping & Trading Limited has a 1-year low of $11.20 and a 1-year high of $19.51. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.79 and a quick ratio of 1.28. The firm has a market cap of $698.96 million, a price-to-earnings ratio of 15.64 and a beta of 1.19.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $43.49 million. During the same quarter last year, the business earned $0.49 earnings per share. The business's quarterly revenue was down 39.3% on a year-over-year basis. On average, sell-side analysts expect that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.

Genco Shipping & Trading Dividend Announcement

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

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