Los Angeles Capital Management LLC Grows Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Los Angeles Capital Management LLC raised its position in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 494.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,189 shares of the shipping company's stock after purchasing an additional 109,959 shares during the quarter. Los Angeles Capital Management LLC owned about 0.31% of Genco Shipping & Trading worth $2,193,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. SummerHaven Investment Management LLC boosted its holdings in Genco Shipping & Trading by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 53,061 shares of the shipping company's stock worth $880,000 after buying an additional 696 shares in the last quarter. Swiss National Bank raised its holdings in Genco Shipping & Trading by 1.1% in the 3rd quarter. Swiss National Bank now owns 93,400 shares of the shipping company's stock worth $1,307,000 after acquiring an additional 1,000 shares during the period. Barclays PLC raised its holdings in Genco Shipping & Trading by 2.4% in the 3rd quarter. Barclays PLC now owns 44,792 shares of the shipping company's stock worth $627,000 after acquiring an additional 1,048 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Genco Shipping & Trading by 10.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 13,092 shares of the shipping company's stock worth $183,000 after acquiring an additional 1,198 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Genco Shipping & Trading by 16.9% in the 4th quarter. Victory Capital Management Inc. now owns 13,251 shares of the shipping company's stock worth $220,000 after acquiring an additional 1,915 shares during the period. Institutional investors and hedge funds own 58.62% of the company's stock.

Insiders Place Their Bets

In other Genco Shipping & Trading news, CFO Peter George Allen sold 7,036 shares of Genco Shipping & Trading stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $19.80, for a total transaction of $139,312.80. Following the completion of the transaction, the chief financial officer now owns 35,518 shares in the company, valued at approximately $703,256.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jesper Christensen sold 12,404 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.80, for a total value of $245,599.20. Following the transaction, the insider now owns 42,587 shares in the company, valued at approximately $843,222.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter George Allen sold 7,036 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.80, for a total value of $139,312.80. Following the completion of the transaction, the chief financial officer now owns 35,518 shares in the company, valued at approximately $703,256.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,496 shares of company stock valued at $1,238,678. 2.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GNK has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on Genco Shipping & Trading from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Friday, April 19th. StockNews.com downgraded Genco Shipping & Trading from a "hold" rating to a "sell" rating in a report on Thursday, April 18th. Finally, TheStreet upgraded Genco Shipping & Trading from a "c" rating to a "b-" rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Genco Shipping & Trading has an average rating of "Hold" and a consensus target price of $21.00.

Genco Shipping & Trading Stock Performance

NYSE:GNK traded up $0.58 on Tuesday, hitting $22.44. The company's stock had a trading volume of 1,097,169 shares, compared to its average volume of 708,893. The company has a current ratio of 4.46, a quick ratio of 3.70 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average of $20.63 and a two-hundred day moving average of $17.53. The firm has a market capitalization of $959.10 million, a P/E ratio of -70.50 and a beta of 1.11. Genco Shipping & Trading Limited has a one year low of $12.39 and a one year high of $22.54.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last announced its earnings results on Wednesday, February 21st. The shipping company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.06. The company had revenue of $115.50 million for the quarter, compared to analyst estimates of $72.54 million. Genco Shipping & Trading had a positive return on equity of 3.10% and a negative net margin of 3.35%. The firm's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. Research analysts predict that Genco Shipping & Trading Limited will post 1.93 earnings per share 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 issued a dividend of $0.41 per share. This is an increase from Genco Shipping & Trading's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.64 annualized dividend and a dividend yield of 7.31%. Genco Shipping & Trading's dividend payout ratio (DPR) is -529.03%.

Genco Shipping & Trading Company 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.