Genco Shipping & Trading Limited (NYSE:GNK) Shares Purchased by Teza Capital Management LLC

Teza Capital Management LLC grew its stake in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 792.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,520 shares of the shipping company's stock after purchasing an additional 98,130 shares during the period. Teza Capital Management LLC owned about 0.26% of Genco Shipping & Trading worth $1,541,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in Genco Shipping & Trading in the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new stake in Genco Shipping & Trading in the 4th quarter worth approximately $29,000. New Age Alpha Advisors LLC purchased a new stake in Genco Shipping & Trading in the 4th quarter worth approximately $56,000. Mariner LLC purchased a new stake in Genco Shipping & Trading in the 4th quarter worth approximately $147,000. Finally, Nisa Investment Advisors LLC boosted its position in Genco Shipping & Trading by 830.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company's stock worth $154,000 after purchasing an additional 9,847 shares in the last quarter. Hedge funds and other institutional investors own 58.62% of the company's stock.

Insider Buying and Selling at Genco Shipping & Trading

In other Genco Shipping & Trading news, CAO Joseph Adamo sold 6,226 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $86,914.96. Following the transaction, the chief accounting officer now owns 26,829 shares in the company, valued at approximately $374,532.84. This trade represents a 18.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jesper Christensen sold 13,602 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $189,883.92. Following the completion of the transaction, the insider now owns 57,322 shares in the company, valued at $800,215.12. The trade was a 19.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,812 shares of company stock worth $402,216. Corporate insiders own 2.37% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on GNK shares. Jefferies Financial Group restated a "buy" rating and issued a $17.00 price objective 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 research report on Monday, March 31st. Dnb Nor Markets upgraded Genco Shipping & Trading to a "strong-buy" rating in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.75.

Genco Shipping & Trading Price Performance

Shares of NYSE:GNK traded up $0.23 during midday trading on Friday, reaching $13.27. 649,818 shares of the company's stock traded hands, compared to its average volume of 547,115. Genco Shipping & Trading Limited has a 1 year low of $11.20 and a 1 year high of $22.68. The company has a market cap of $569.85 million, a P/E ratio of 7.58, a PEG ratio of 5.64 and a beta of 1.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. The company has a fifty day simple moving average of $13.15 and a two-hundred day simple moving average of $14.27.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last announced 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). The firm had revenue of $41.64 million during 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 company's revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. Equities analysts predict that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Announces Dividend

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