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

SG Americas Securities LLC boosted its stake in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 629.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 218,067 shares of the shipping company's stock after buying an additional 188,186 shares during the period. SG Americas Securities LLC owned about 0.51% of Genco Shipping & Trading worth $2,913,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Genco Shipping & Trading by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,838,759 shares of the shipping company's stock valued at $39,572,000 after acquiring an additional 10,193 shares during the period. American Century Companies Inc. grew its position in Genco Shipping & Trading by 8.9% during the 4th quarter. American Century Companies Inc. now owns 1,361,597 shares of the shipping company's stock worth $18,981,000 after purchasing an additional 111,564 shares in the last quarter. Townsend & Associates Inc raised its stake in Genco Shipping & Trading by 2.2% during the 4th quarter. Townsend & Associates Inc now owns 1,071,959 shares of the shipping company's stock valued at $15,318,000 after purchasing an additional 23,101 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Genco Shipping & Trading by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 990,357 shares of the shipping company's stock valued at $13,809,000 after purchasing an additional 10,260 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Genco Shipping & Trading by 23.9% in the fourth quarter. Royce & Associates LP now owns 597,860 shares of the shipping company's stock worth $8,334,000 after buying an additional 115,173 shares during the period. 58.62% of the stock is owned by hedge funds and other institutional investors.

Genco Shipping & Trading Stock Down 0.7%

NYSE:GNK traded down $0.10 during mid-day trading on Wednesday, reaching $13.63. The stock had a trading volume of 307,774 shares, compared to its average volume of 563,345. The stock has a market cap of $585.33 million, a P/E ratio of 13.13, a PEG ratio of 15.62 and a beta of 1.22. The business's 50 day moving average is $13.31 and its 200 day moving average is $13.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.79 and a quick ratio of 1.28. Genco Shipping & Trading Limited has a fifty-two week low of $11.20 and a fifty-two week high of $22.18.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last announced its quarterly earnings results 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 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 business's revenue for the quarter was down 39.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. As a group, sell-side analysts predict that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GNK. Jefferies Financial Group reissued a "buy" rating and set a $17.00 price target on shares of Genco Shipping & Trading in a research report on Thursday, May 8th. Pareto Securities upgraded Genco Shipping & Trading to a "strong-buy" rating in a report on Monday, March 31st. Wall Street Zen lowered shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Dnb Nor Markets raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Genco Shipping & Trading currently has an average rating of "Moderate Buy" and a consensus price target of $20.75.

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.