Genco Shipping & Trading Limited (NYSE:GNK) Stock Position Lifted by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC lifted its position in Genco Shipping & Trading Limited (NYSE:GNK) by 26.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 17,755 shares of the shipping company’s stock after acquiring an additional 3,745 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Genco Shipping & Trading were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in GNK. PNC Financial Services Group Inc. raised its stake in Genco Shipping & Trading by 1,632.8% during the third quarter. PNC Financial Services Group Inc. now owns 2,270 shares of the shipping company’s stock worth $32,000 after acquiring an additional 2,139 shares during the period. CWM LLC raised its position in shares of Genco Shipping & Trading by 550.0% during the 4th quarter. CWM LLC now owns 3,796 shares of the shipping company’s stock worth $63,000 after purchasing an additional 3,212 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Genco Shipping & Trading during the 3rd quarter worth approximately $137,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Genco Shipping & Trading by 72.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,147 shares of the shipping company’s stock worth $152,000 after purchasing an additional 3,838 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new position in Genco Shipping & Trading during the 3rd quarter valued at approximately $164,000. 58.62% of the stock is currently owned by institutional investors.

Genco Shipping & Trading Stock Up 1.5 %

Shares of GNK opened at $21.55 on Friday. The stock’s fifty day moving average is $20.26 and its 200-day moving average is $17.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.46 and a quick ratio of 3.70. Genco Shipping & Trading Limited has a one year low of $12.39 and a one year high of $21.61.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, February 21st. The shipping company reported $0.43 EPS 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 the consensus estimate of $72.54 million. Genco Shipping & Trading had a negative net margin of 3.35% and a positive return on equity of 3.10%. Genco Shipping & Trading’s revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. Analysts forecast that Genco Shipping & Trading Limited will post 1.93 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.41 per share. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, March 5th. This represents a $1.64 annualized dividend and a dividend yield of 7.61%. Genco Shipping & Trading’s dividend payout ratio (DPR) is -529.03%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GNK. Stifel Nicolaus increased their target price on Genco Shipping & Trading from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. TheStreet upgraded shares of Genco Shipping & Trading from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. StockNews.com lowered shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, BTIG Research restated a “neutral” rating on shares of Genco Shipping & Trading in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Genco Shipping & Trading has an average rating of “Hold” and a consensus target price of $21.00.

Insider Buying and Selling

In other Genco Shipping & Trading news, CAO Joseph Adamo sold 1,396 shares of Genco Shipping & Trading stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $20.40, for a total value of $28,478.40. Following the transaction, the chief accounting officer now owns 17,994 shares in the company, valued at $367,077.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Joseph Adamo sold 1,396 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $20.40, for a total value of $28,478.40. Following the completion of the transaction, the chief accounting officer now owns 17,994 shares in the company, valued at approximately $367,077.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John C. Wobensmith sold 35,660 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $706,068.00. Following the sale, the chief executive officer now owns 466,684 shares in the company, valued at approximately $9,240,343.20. The disclosure for this sale can be found here. Insiders have sold 62,496 shares of company stock worth $1,238,678 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

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.