Genco Shipping & Trading Limited $GNK Stock Holdings Increased by SG Americas Securities LLC

SG Americas Securities LLC grew its position in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 364.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 307,663 shares of the shipping company’s stock after buying an additional 241,471 shares during the period. SG Americas Securities LLC owned about 0.71% of Genco Shipping & Trading worth $6,938,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. XY Capital Ltd bought a new position in Genco Shipping & Trading during the fourth quarter worth $425,000. American Century Companies Inc. increased its stake in Genco Shipping & Trading by 4.0% during the third quarter. American Century Companies Inc. now owns 1,611,227 shares of the shipping company’s stock valued at $28,680,000 after purchasing an additional 62,030 shares during the last quarter. Graham Capital Wealth Management LLC bought a new stake in Genco Shipping & Trading during the fourth quarter valued at $1,742,000. Citigroup Inc. raised its holdings in shares of Genco Shipping & Trading by 727.6% during the third quarter. Citigroup Inc. now owns 215,412 shares of the shipping company’s stock worth $3,834,000 after purchasing an additional 189,383 shares during the period. Finally, CSM Advisors LLC raised its holdings in shares of Genco Shipping & Trading by 18.4% during the third quarter. CSM Advisors LLC now owns 351,045 shares of the shipping company’s stock worth $6,248,000 after purchasing an additional 54,575 shares during the period. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Trading Down 0.3%

Genco Shipping & Trading stock opened at $23.49 on Monday. Genco Shipping & Trading Limited has a 12-month low of $12.91 and a 12-month high of $27.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.98 and a quick ratio of 2.41. The stock has a market capitalization of $1.02 billion, a PE ratio of 61.81, a price-to-earnings-growth ratio of 3.40 and a beta of 0.95. The firm has a 50 day simple moving average of $24.17 and a 200-day simple moving average of $22.17.

Genco Shipping & Trading (NYSE:GNK) last announced its earnings results on Wednesday, May 6th. The shipping company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.07 by $0.19. The firm had revenue of $114.43 million for the quarter, compared to analysts’ expectations of $65.73 million. Genco Shipping & Trading had a return on equity of 2.49% and a net margin of 4.38%.The firm’s quarterly revenue was up 60.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.28) earnings per share. As a group, equities research analysts expect that Genco Shipping & Trading Limited will post 1.81 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 18th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.40 annualized dividend and a yield of 6.0%. Genco Shipping & Trading’s dividend payout ratio (DPR) is currently 368.42%.

Analyst Ratings Changes

GNK has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $29.00 price objective on shares of Genco Shipping & Trading in a research report on Friday, May 8th. Alliance Global Partners reissued a “neutral” rating on shares of Genco Shipping & Trading in a report on Wednesday, June 17th. Weiss Ratings upgraded Genco Shipping & Trading from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Finally, Zacks Research lowered Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.67.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.