Segall Bryant & Hamill LLC Makes New Investment in Genco Shipping & Trading Limited (NYSE:GNK)

Segall Bryant & Hamill LLC purchased a new stake in Genco Shipping & Trading Limited (NYSE:GNK) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 39,612 shares of the shipping company’s stock, valued at approximately $552,000.

Other hedge funds have also modified their holdings of the company. LPL Financial LLC lifted its position in 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 buying an additional 736 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Genco Shipping & Trading in the 4th quarter valued at approximately $478,000. AXQ Capital LP acquired a new position in shares of Genco Shipping & Trading in the 4th quarter worth approximately $162,000. American Century Companies Inc. boosted its position in shares of Genco Shipping & Trading by 8.9% during the 4th quarter. American Century Companies Inc. now owns 1,361,597 shares of the shipping company’s stock worth $18,981,000 after purchasing an additional 111,564 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Genco Shipping & Trading in the 4th quarter valued at approximately $296,000. 58.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on GNK. StockNews.com lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Jefferies Financial Group lowered their target price on Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Genco Shipping & Trading currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Insider Activity at Genco Shipping & Trading

In other Genco Shipping & Trading news, CFO Peter George Allen sold 8,984 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 $125,416.64. Following the sale, the chief financial officer now owns 45,251 shares of the company’s stock, valued at approximately $631,703.96. This trade represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Joseph Adamo sold 6,226 shares of the company’s stock in a transaction 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 owns 26,829 shares of the company’s stock, valued at approximately $374,532.84. The trade was 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 quarter. 2.50% of the stock is owned by insiders.

Genco Shipping & Trading Trading Up 1.7 %

NYSE:GNK opened at $13.39 on Friday. The stock has a fifty day moving average price of $14.18 and a 200 day moving average price of $15.52. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. Genco Shipping & Trading Limited has a 12-month low of $13.08 and a 12-month high of $23.43. The firm has a market cap of $572.32 million, a PE ratio of 7.65, a price-to-earnings-growth ratio of 5.64 and a beta of 0.99.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.27). Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The company had revenue of $67.95 million for the quarter, compared to analyst estimates of $67.36 million. Sell-side analysts anticipate that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.97%. Genco Shipping & Trading’s payout ratio is currently 68.57%.

Genco Shipping & Trading 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.