SG Americas Securities LLC Purchases 188,186 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

SG Americas Securities LLC lifted its stake in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 629.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,067 shares of the shipping company's stock after acquiring an additional 188,186 shares during the period. SG Americas Securities LLC owned approximately 0.51% of Genco Shipping & Trading worth $2,913,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GNK. Rhumbline Advisers increased its holdings in shares of Genco Shipping & Trading by 2.7% in the fourth quarter. Rhumbline Advisers now owns 68,136 shares of the shipping company's stock worth $950,000 after buying an additional 1,800 shares during the period. Ieq Capital LLC bought a new stake in shares of Genco Shipping & Trading in the 4th quarter worth approximately $245,000. Townsend & Associates Inc boosted its position in shares of Genco Shipping & Trading by 2.2% in the 4th quarter. Townsend & Associates Inc now owns 1,071,959 shares of the shipping company's stock worth $15,318,000 after purchasing an additional 23,101 shares in the last quarter. Partners Wealth Management LLC purchased a new stake in Genco Shipping & Trading during the 4th quarter valued at $221,000. Finally, Bank of New York Mellon Corp boosted its stake in Genco Shipping & Trading by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 171,988 shares of the shipping company's stock valued at $2,398,000 after purchasing an additional 44,153 shares during the last quarter. 58.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Dnb Nor Markets upgraded Genco Shipping & Trading to a "strong-buy" rating in a research report on Thursday, May 1st. Jefferies Financial Group reaffirmed a "buy" rating and set a $17.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. Wall Street Zen cut Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.

Genco Shipping & Trading Stock Performance

Shares of GNK opened at $14.13 on Friday. Genco Shipping & Trading Limited has a 12 month low of $11.20 and a 12 month high of $22.18. The stock has a fifty day moving average price of $13.24 and a 200-day moving average price of $13.87. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. The firm has a market cap of $607.01 million, a PE ratio of 8.07, a P/E/G ratio of 5.64 and a beta of 1.22.

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 the consensus estimate of ($0.26) by ($0.02). The business had revenue of $41.64 million for the quarter, compared to analysts' expectations of $43.49 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The business's revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS. Equities research analysts predict that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Announces Dividend

The company also recently announced a dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 23rd were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a yield of 4.28%. Genco Shipping & Trading's dividend payout ratio (DPR) is 57.69%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.