Teza Capital Management LLC Increases Stock Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Teza Capital Management LLC grew its position in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 792.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 110,520 shares of the shipping company's stock after acquiring an additional 98,130 shares during the quarter. Teza Capital Management LLC owned about 0.26% of Genco Shipping & Trading worth $1,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GNK. LPL Financial LLC boosted its holdings in shares of Genco Shipping & Trading by 3.1% in the fourth quarter. LPL Financial LLC now owns 24,566 shares of the shipping company's stock valued at $342,000 after purchasing an additional 736 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Genco Shipping & Trading by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,001 shares of the shipping company's stock valued at $335,000 after purchasing an additional 924 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Genco Shipping & Trading by 1.8% during the fourth quarter. Wells Fargo & Company MN now owns 57,506 shares of the shipping company's stock valued at $802,000 after buying an additional 1,040 shares during the period. Legal & General Group Plc raised its stake in Genco Shipping & Trading by 3.9% in the fourth quarter. Legal & General Group Plc now owns 42,402 shares of the shipping company's stock worth $591,000 after buying an additional 1,607 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Genco Shipping & Trading by 2.7% during 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. 58.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a research report on Monday, March 31st. Wall Street Zen lowered shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a report on Wednesday. Dnb Nor Markets upgraded shares of Genco Shipping & Trading to a "strong-buy" rating in a research report on Thursday, May 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.75.

Genco Shipping & Trading Price Performance

Shares of Genco Shipping & Trading stock traded down $0.45 on Thursday, hitting $13.06. 939,660 shares of the company were exchanged, compared to its average volume of 548,998. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $13.16 and a 200 day moving average price of $14.31. The stock has a market capitalization of $561.04 million, a price-to-earnings ratio of 7.46, a price-to-earnings-growth ratio of 5.64 and a beta of 1.17. Genco Shipping & Trading Limited has a 1-year low of $11.20 and a 1-year high of $22.68.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released 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 return on equity of 7.82% and a net margin of 18.06%. The company had revenue of $41.64 million for the quarter, compared to analyst estimates of $43.49 million. During the same period last year, the firm posted $0.49 EPS. The business's quarterly revenue was down 39.3% on a year-over-year basis. As a group, sell-side analysts predict that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 23rd will be given a dividend of $0.15 per share. This represents a yield of 4.28%. The ex-dividend date of this dividend is Thursday, May 22nd. Genco Shipping & Trading's payout ratio is currently 57.69%.

Insiders Place Their Bets

In related news, CFO Peter George Allen sold 8,984 shares of Genco Shipping & Trading stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $125,416.64. Following the completion of the transaction, the chief financial officer now owns 45,251 shares in the company, valued at approximately $631,703.96. The trade was a 16.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Joseph Adamo sold 6,226 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $86,914.96. Following the completion of the transaction, the chief accounting officer now directly owns 26,829 shares of the company's stock, valued at $374,532.84. This represents a 18.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,812 shares of company stock valued at $402,216 over the last ninety days. Company insiders own 2.37% of the company's stock.

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.