Genco Shipping & Trading Limited (NYSE:GNK) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 11.8% during the 4th quarter, Holdings Channel reports. The firm owned 29,881 shares of the shipping company’s stock after buying an additional 3,142 shares during the period. SG Americas Securities LLC’s holdings in Genco Shipping & Trading were worth $417,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GNK. Tidal Investments LLC increased its stake in Genco Shipping & Trading by 13.4% in the third quarter. Tidal Investments LLC now owns 24,587 shares of the shipping company’s stock valued at $479,000 after purchasing an additional 2,898 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Genco Shipping & Trading by 26.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,190 shares of the shipping company’s stock worth $198,000 after purchasing an additional 3,000 shares during the period. Quarry LP lifted its holdings in shares of Genco Shipping & Trading by 535.8% during the third quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock worth $83,000 after purchasing an additional 3,595 shares during the period. Accurate Wealth Management LLC lifted its holdings in Genco Shipping & Trading by 19.2% in the third quarter. Accurate Wealth Management LLC now owns 34,363 shares of the shipping company’s stock valued at $670,000 after acquiring an additional 5,525 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in Genco Shipping & Trading by 39.0% in the third quarter. Point72 Asset Management L.P. now owns 25,439 shares of the shipping company’s stock valued at $496,000 after acquiring an additional 7,139 shares during the period. Institutional investors and hedge funds own 58.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $25.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, November 7th. StockNews.com downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and dropped their price objective for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.20.

Genco Shipping & Trading Stock Down 1.3 %

Shares of NYSE:GNK opened at $14.46 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. Genco Shipping & Trading Limited has a 1 year low of $13.51 and a 1 year high of $23.43. The stock has a market capitalization of $618.28 million, a P/E ratio of 9.21, a PEG ratio of 3.19 and a beta of 0.99. The stock has a 50-day simple moving average of $14.63 and a 200-day simple moving average of $16.61.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The firm had revenue of $99.33 million during the quarter, compared to analysts’ expectations of $72.02 million. Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%. Genco Shipping & Trading’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) EPS. Equities analysts forecast that Genco Shipping & Trading Limited will post 1.75 earnings per share for the current year.

Genco Shipping & Trading Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.07%. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.34. Genco Shipping & Trading’s dividend payout ratio is currently 101.91%.

About Genco Shipping & Trading

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.