Graham Capital Wealth Management LLC Invests $1.74 Million in Genco Shipping & Trading Limited $GNK

Graham Capital Wealth Management LLC purchased a new position in Genco Shipping & Trading Limited (NYSE:GNK) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 94,519 shares of the shipping company’s stock, valued at approximately $1,742,000. Genco Shipping & Trading comprises about 1.6% of Graham Capital Wealth Management LLC’s portfolio, making the stock its 25th largest position.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of Genco Shipping & Trading by 2.3% in the third quarter. Bank of America Corp DE now owns 34,970 shares of the shipping company’s stock worth $622,000 after acquiring an additional 779 shares during the last quarter. CWM LLC lifted its position in Genco Shipping & Trading by 61.4% during the third quarter. CWM LLC now owns 2,843 shares of the shipping company’s stock worth $51,000 after buying an additional 1,082 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Genco Shipping & Trading by 58.2% during the third quarter. PNC Financial Services Group Inc. now owns 3,073 shares of the shipping company’s stock worth $55,000 after buying an additional 1,131 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Genco Shipping & Trading by 11.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,695 shares of the shipping company’s stock worth $219,000 after buying an additional 1,262 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Genco Shipping & Trading by 3.3% during the third quarter. Legal & General Group Plc now owns 43,605 shares of the shipping company’s stock worth $776,000 after buying an additional 1,381 shares in the last quarter. 58.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Genco Shipping & Trading

In other Genco Shipping & Trading news, CFO Peter George Allen sold 13,315 shares of Genco Shipping & Trading stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $23.66, for a total value of $315,032.90. Following the sale, the chief financial officer owned 66,702 shares in the company, valued at $1,578,169.32. The trade was a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jesper Christensen sold 18,450 shares of Genco Shipping & Trading stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $23.66, for a total value of $436,527.00. Following the completion of the sale, the insider owned 98,299 shares in the company, valued at $2,325,754.34. This represents a 15.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,824 shares of company stock worth $1,313,949 over the last quarter. 2.37% of the stock is currently owned by company insiders.

Genco Shipping & Trading Stock Performance

Shares of Genco Shipping & Trading stock opened at $23.95 on Tuesday. Genco Shipping & Trading Limited has a one year low of $11.20 and a one year high of $24.81. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -217.71, a PEG ratio of 5.54 and a beta of 1.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.84 and a current ratio of 2.39. The business’s 50 day moving average price is $22.27 and its 200 day moving average price is $19.51.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Tuesday, February 17th. The shipping company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. Genco Shipping & Trading had a negative return on equity of 0.12% and a negative net margin of 1.28%.The firm had revenue of $109.92 million for the quarter, compared to the consensus estimate of $78.52 million. During the same quarter last year, the business posted $0.29 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts predict that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 11th were given a $0.50 dividend. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.15. This represents a $2.00 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date was Wednesday, March 11th. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently -1,818.18%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genco Shipping & Trading in a research report on Friday, March 27th. Zacks Research downgraded Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Alliance Global Partners downgraded Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

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.