Nisa Investment Advisors LLC Boosts Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Nisa Investment Advisors LLC increased its holdings in Genco Shipping & Trading Limited (NYSE:GNK) by 830.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,033 shares of the shipping company’s stock after purchasing an additional 9,847 shares during the period. Nisa Investment Advisors LLC’s holdings in Genco Shipping & Trading were worth $154,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Pekin Hardy Strauss Inc. bought a new stake in Genco Shipping & Trading in the third quarter valued at approximately $812,000. Charles Schwab Investment Management Inc. increased its stake in shares of Genco Shipping & Trading by 70.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company’s stock worth $10,345,000 after buying an additional 219,907 shares during the period. JPMorgan Chase & Co. raised its holdings in Genco Shipping & Trading by 155.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company’s stock valued at $5,559,000 after buying an additional 173,270 shares during the last quarter. Barclays PLC boosted its position in Genco Shipping & Trading by 499.7% during the 3rd quarter. Barclays PLC now owns 103,387 shares of the shipping company’s stock valued at $2,016,000 after buying an additional 86,147 shares during the period. Finally, Petrus Trust Company LTA bought a new stake in Genco Shipping & Trading in the 3rd quarter worth $661,000. Institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Price Performance

Shares of NYSE GNK opened at $14.65 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. Genco Shipping & Trading Limited has a 1 year low of $13.51 and a 1 year high of $23.43. The company’s 50-day moving average is $14.68 and its 200 day moving average is $16.71. The stock has a market capitalization of $626.22 million, a P/E ratio of 9.33, a P/E/G ratio of 0.23 and a beta of 0.99.

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

Genco Shipping & Trading Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.93%. 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 payout ratio is 101.91%.

Analysts Set New Price Targets

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

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.