Wealth Enhancement Advisory Services LLC Has $198,000 Position in Genco Shipping & Trading Limited (NYSE:GNK)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 26.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,190 shares of the shipping company’s stock after purchasing an additional 3,000 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Genco Shipping & Trading were worth $198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GNK. Dimensional Fund Advisors LP increased its holdings in Genco Shipping & Trading by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,869,297 shares of the shipping company’s stock worth $61,145,000 after buying an additional 33,150 shares during the last quarter. State Street Corp grew its position in Genco Shipping & Trading by 1.0% in the third quarter. State Street Corp now owns 1,190,467 shares of the shipping company’s stock worth $23,214,000 after acquiring an additional 12,001 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Genco Shipping & Trading by 16.4% during the 2nd quarter. American Century Companies Inc. now owns 1,096,741 shares of the shipping company’s stock worth $23,372,000 after purchasing an additional 154,339 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Genco Shipping & Trading by 66.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,050,030 shares of the shipping company’s stock valued at $22,376,000 after purchasing an additional 419,730 shares in the last quarter. Finally, Townsend & Associates Inc lifted its stake in shares of Genco Shipping & Trading by 2.7% in the 3rd quarter. Townsend & Associates Inc now owns 1,048,858 shares of the shipping company’s stock valued at $20,453,000 after purchasing an additional 27,783 shares during the last quarter. 58.62% of the stock is owned by hedge funds and other institutional investors.

Genco Shipping & Trading Trading Up 0.9 %

Genco Shipping & Trading stock opened at $14.40 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. The business’s 50-day simple moving average is $15.24 and its 200-day simple moving average is $17.14. The firm has a market capitalization of $615.53 million, a PE ratio of 9.17, a PEG ratio of 0.24 and a beta of 0.99. Genco Shipping & Trading Limited has a 52 week low of $13.51 and a 52 week high of $23.43.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $99.33 million for the quarter, compared to the consensus estimate of $72.02 million. Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) EPS. Equities research analysts forecast that Genco Shipping & Trading Limited will post 1.75 earnings per share for the current year.

Genco Shipping & Trading Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a $0.40 dividend. The ex-dividend date was Monday, November 18th. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.34. This represents a $1.60 dividend on an annualized basis and a yield of 11.11%. Genco Shipping & Trading’s dividend payout ratio is 101.91%.

Analyst Ratings Changes

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

Genco Shipping & Trading Company 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.