Jane Street Group LLC Has $1.07 Million Stake in Genco Shipping & Trading Limited (NYSE:GNK)

Jane Street Group LLC decreased its stake in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 12.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 55,059 shares of the shipping company’s stock after selling 8,090 shares during the period. Jane Street Group LLC owned 0.13% of Genco Shipping & Trading worth $1,074,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Moors & Cabot Inc. lifted its position in shares of Genco Shipping & Trading by 2.0% in the 2nd quarter. Moors & Cabot Inc. now owns 31,404 shares of the shipping company’s stock worth $669,000 after acquiring an additional 628 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Genco Shipping & Trading by 7.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 18,300 shares of the shipping company’s stock worth $390,000 after acquiring an additional 1,300 shares during the period. Quarry LP lifted its position in shares of Genco Shipping & Trading by 535.8% in the 3rd quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock worth $83,000 after acquiring an additional 3,595 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Genco Shipping & Trading in the 2nd quarter worth approximately $82,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Genco Shipping & Trading by 80.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,980 shares of the shipping company’s stock worth $191,000 after acquiring an additional 4,003 shares during the period. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Stock Performance

Genco Shipping & Trading stock opened at $13.83 on Tuesday. The stock has a market cap of $591.34 million, a PE ratio of 8.81, a P/E/G ratio of 0.24 and a beta of 0.96. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. Genco Shipping & Trading Limited has a 12-month low of $13.51 and a 12-month high of $23.43. The business’s 50-day moving average price is $15.78 and its two-hundred day moving average price is $17.74.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $99.33 million during the quarter, compared to analysts’ expectations of $72.02 million. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) EPS. As a group, analysts expect that Genco Shipping & Trading Limited will post 1.74 earnings per share for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were given a dividend of $0.40 per share. The ex-dividend date was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a yield of 11.57%. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.34. Genco Shipping & Trading’s payout ratio is currently 101.91%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating and cut their target price for the stock from $26.00 to $17.00 in a research report on Wednesday, October 23rd. StockNews.com downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Jefferies Financial Group restated a “buy” rating and set a $25.00 target price on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Genco Shipping & Trading in a research report on Wednesday, September 4th. They set a “buy” rating and a $22.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Genco Shipping & Trading currently has an average rating of “Moderate Buy” and an average price target of $24.20.

Genco Shipping & Trading 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.