SG Americas Securities LLC Has $1.30 Million Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

SG Americas Securities LLC grew its holdings in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 696.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,118 shares of the shipping company's stock after purchasing an additional 68,310 shares during the quarter. SG Americas Securities LLC owned 0.18% of Genco Shipping & Trading worth $1,296,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GNK. Raymond James & Associates acquired a new stake in Genco Shipping & Trading during the first quarter worth approximately $276,000. Bank of New York Mellon Corp raised its holdings in Genco Shipping & Trading by 17.1% during the first quarter. Bank of New York Mellon Corp now owns 173,010 shares of the shipping company's stock worth $4,085,000 after purchasing an additional 25,300 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Genco Shipping & Trading during the first quarter worth approximately $26,000. LSV Asset Management raised its holdings in Genco Shipping & Trading by 85.9% during the first quarter. LSV Asset Management now owns 100,900 shares of the shipping company's stock worth $2,383,000 after purchasing an additional 46,632 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Genco Shipping & Trading by 9.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,916,725 shares of the shipping company's stock valued at $45,272,000 after acquiring an additional 164,117 shares during the period. Hedge funds and other institutional investors own 58.62% of the company's stock.

Insiders Place Their Bets

In other Genco Shipping & Trading news, insider Jesper Christensen sold 12,404 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $245,599.20. Following the sale, the insider now directly owns 42,587 shares in the company, valued at approximately $843,222.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Genco Shipping & Trading news, insider Jesper Christensen sold 12,404 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $245,599.20. Following the sale, the insider now directly owns 42,587 shares in the company, valued at approximately $843,222.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter George Allen sold 7,036 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $19.80, for a total transaction of $139,312.80. Following the sale, the chief financial officer now owns 35,518 shares in the company, valued at $703,256.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,496 shares of company stock worth $1,238,678. Corporate insiders own 2.50% of the company's stock.

Genco Shipping & Trading Stock Performance

NYSE:GNK traded up $0.19 during midday trading on Friday, reaching $20.33. The stock had a trading volume of 600,150 shares, compared to its average volume of 727,592. The firm has a fifty day simple moving average of $19.05 and a two-hundred day simple moving average of $16.24. Genco Shipping & Trading Limited has a 12-month low of $12.39 and a 12-month high of $21.24. The company has a quick ratio of 3.70, a current ratio of 4.46 and a debt-to-equity ratio of 0.21. The stock has a market cap of $868.70 million, a P/E ratio of -65.58 and a beta of 1.18.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The shipping company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. Genco Shipping & Trading had a negative net margin of 3.35% and a positive return on equity of 3.10%. The firm had revenue of $115.50 million for the quarter, compared to analyst estimates of $72.54 million. During the same period last year, the firm posted $0.67 EPS. Genco Shipping & Trading's quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts expect that Genco Shipping & Trading Limited will post 2.15 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Wednesday, March 6th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 8.07%. This is a positive change from Genco Shipping & Trading's previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, March 5th. Genco Shipping & Trading's dividend payout ratio (DPR) is -529.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TheStreet raised shares of Genco Shipping & Trading from a "c" rating to a "b-" rating in a report on Thursday, February 22nd. StockNews.com raised shares of Genco Shipping & Trading from a "sell" rating to a "hold" rating in a report on Saturday. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Genco Shipping & Trading in a report on Friday, January 5th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Genco Shipping & Trading presently has an average rating of "Moderate Buy" and a consensus price target of $20.67.

Genco Shipping & Trading Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.