Robeco Institutional Asset Management B.V. acquired a new stake in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 65,080 shares of the shipping company's stock, valued at approximately $869,000. Robeco Institutional Asset Management B.V. owned about 0.15% of Genco Shipping & Trading as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Banque Transatlantique SA purchased a new position in Genco Shipping & Trading during the 4th quarter worth approximately $28,000. New Age Alpha Advisors LLC acquired a new stake in Genco Shipping & Trading during the 4th quarter worth approximately $56,000. GAMMA Investing LLC lifted its position in Genco Shipping & Trading by 1,119.1% during the 1st quarter. GAMMA Investing LLC now owns 4,462 shares of the shipping company's stock worth $60,000 after acquiring an additional 4,096 shares during the period. Randolph Co Inc acquired a new stake in Genco Shipping & Trading during the 1st quarter worth approximately $134,000. Finally, Mariner LLC acquired a new stake in Genco Shipping & Trading during the 4th quarter worth approximately $147,000. Hedge funds and other institutional investors own 58.62% of the company's stock.
Genco Shipping & Trading Trading Up 1.1%
Genco Shipping & Trading stock traded up $0.15 during midday trading on Friday, reaching $13.95. The stock had a trading volume of 405,151 shares, compared to its average volume of 573,981. Genco Shipping & Trading Limited has a twelve month low of $11.20 and a twelve month high of $21.08. The stock has a market capitalization of $599.45 million, a PE ratio of 13.42, a price-to-earnings-growth ratio of 15.81 and a beta of 1.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.28 and a current ratio of 1.79. The stock's 50-day simple moving average is $13.53 and its 200 day simple moving average is $13.70.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The shipping company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). The company had revenue of $41.64 million for the quarter, compared to analyst estimates of $43.49 million. Genco Shipping & Trading had a return on equity of 4.22% and a net margin of 12.12%. The company's revenue for the quarter was down 39.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. Analysts expect that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.
Genco Shipping & Trading Announces Dividend
The firm also recently declared a dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 23rd were paid a $0.15 dividend. This represents a dividend yield of 4.28%. The ex-dividend date of this dividend was Thursday, May 22nd. Genco Shipping & Trading's dividend payout ratio (DPR) is 57.69%.
Analyst Ratings Changes
A number of research firms have weighed in on GNK. Wall Street Zen cut Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Dnb Nor Markets raised Genco Shipping & Trading to a "strong-buy" rating in a research report on Thursday, May 1st. Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a research report on Monday, March 31st. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $17.00 price target on shares of Genco Shipping & Trading in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Genco Shipping & Trading currently has a consensus rating of "Moderate Buy" and an average price target of $18.67.
Get Our Latest Research Report on Genco Shipping & Trading
Genco Shipping & Trading Profile
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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.
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