Oxford Asset Management LLP Acquires Shares of 31,545 Genco Shipping & Trading Limited (NYSE:GNK)

Oxford Asset Management LLP acquired a new stake in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 31,545 shares of the shipping company's stock, valued at approximately $440,000. Oxford Asset Management LLP owned 0.07% of Genco Shipping & Trading at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Barclays PLC increased its holdings in Genco Shipping & Trading by 499.7% in the 3rd quarter. Barclays PLC now owns 103,387 shares of the shipping company's stock worth $2,016,000 after acquiring an additional 86,147 shares during the last quarter. Geode Capital Management LLC boosted its position in Genco Shipping & Trading by 1.2% during the third quarter. Geode Capital Management LLC now owns 980,097 shares of the shipping company's stock worth $19,116,000 after purchasing an additional 11,151 shares during the period. Tidal Investments LLC increased its stake in shares of Genco Shipping & Trading by 13.4% in the third quarter. Tidal Investments LLC now owns 24,587 shares of the shipping company's stock worth $479,000 after purchasing an additional 2,898 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Genco Shipping & Trading in the third quarter worth about $662,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Genco Shipping & Trading by 155.0% in the third quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company's stock worth $5,559,000 after purchasing an additional 173,270 shares in the last quarter. Institutional investors own 58.62% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Pareto Securities upgraded shares of Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday, March 31st. Jefferies Financial Group reduced their target price on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Genco Shipping & Trading has a consensus rating of "Moderate Buy" and a consensus price target of $23.00.

Genco Shipping & Trading Price Performance

NYSE:GNK traded down $0.12 during mid-day trading on Wednesday, hitting $12.99. 769,352 shares of the stock traded hands, compared to its average volume of 556,825. The business's 50-day moving average price is $13.26 and its 200 day moving average price is $14.59. The company has a market cap of $558.04 million, a PE ratio of 7.42, a price-to-earnings-growth ratio of 5.64 and a beta of 0.96. Genco Shipping & Trading Limited has a 12-month low of $11.20 and a 12-month high of $23.43. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.27). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The firm had revenue of $67.95 million for the quarter, compared to analysts' expectations of $67.36 million. On average, analysts expect that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 9.24%. Genco Shipping & Trading's payout ratio is presently 68.57%.

Insider Transactions at Genco Shipping & Trading

In other news, insider Jesper Christensen sold 13,602 shares of the business'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 value of $189,883.92. Following the completion of the sale, the insider now directly owns 57,322 shares in the company, valued at approximately $800,215.12. The trade was a 19.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Joseph Adamo sold 6,226 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $86,914.96. Following the completion of the sale, the chief accounting officer now owns 26,829 shares of the company's stock, valued at approximately $374,532.84. The trade was a 18.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,812 shares of company stock worth $402,216. 2.50% of the stock is currently owned by insiders.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.