SG Americas Securities LLC Acquires 3,142 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

SG Americas Securities LLC raised its holdings in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 11.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,881 shares of the shipping company’s stock after purchasing an additional 3,142 shares during the quarter. SG Americas Securities LLC owned 0.07% of Genco Shipping & Trading worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Inspire Investing LLC bought a new stake in shares of Genco Shipping & Trading in the 3rd quarter worth about $413,000. Accurate Wealth Management LLC lifted its holdings in shares of Genco Shipping & Trading by 19.2% in the 3rd quarter. Accurate Wealth Management LLC now owns 34,363 shares of the shipping company’s stock worth $670,000 after acquiring an additional 5,525 shares during the last quarter. Calton & Associates Inc. bought a new stake in shares of Genco Shipping & Trading in the 3rd quarter worth about $297,000. Semanteon Capital Management LP bought a new stake in shares of Genco Shipping & Trading in the 3rd quarter worth about $905,000. Finally, Townsend & Associates Inc lifted its holdings 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 worth $20,453,000 after acquiring an additional 27,783 shares during the last quarter. Institutional investors own 58.62% of the company’s stock.

Wall Street Analyst Weigh In

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

Genco Shipping & Trading Stock Performance

Shares of NYSE GNK opened at $14.46 on Monday. The company has a current ratio of 3.09, a quick ratio of 2.49 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 company has a 50 day simple moving average of $14.63 and a two-hundred day simple moving average of $16.61. The stock has a market cap of $618.28 million, a price-to-earnings ratio of 9.21, a PEG ratio of 3.19 and a beta of 0.99.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.41 EPS for the quarter, meeting the consensus estimate 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 business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) EPS. As a group, analysts predict 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. Investors of record on Monday, November 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.07%. The ex-dividend date was Monday, November 18th. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.34. Genco Shipping & Trading’s payout ratio is presently 101.91%.

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.