23,085 Shares in Genco Shipping & Trading Limited $GNK Bought by XY Capital Ltd

XY Capital Ltd acquired a new position in shares of Genco Shipping & Trading Limited (NYSE:GNK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 23,085 shares of the shipping company’s stock, valued at approximately $425,000. XY Capital Ltd owned 0.05% of Genco Shipping & Trading at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Genco Shipping & Trading by 4.0% in the 3rd quarter. American Century Companies Inc. now owns 1,611,227 shares of the shipping company’s stock valued at $28,680,000 after purchasing an additional 62,030 shares during the period. Townsend & Associates Inc raised its stake in shares of Genco Shipping & Trading by 0.7% in the 4th quarter. Townsend & Associates Inc now owns 1,276,311 shares of the shipping company’s stock valued at $25,373,000 after purchasing an additional 8,488 shares during the period. Focus Partners Wealth raised its stake in shares of Genco Shipping & Trading by 3.9% in the 3rd quarter. Focus Partners Wealth now owns 836,775 shares of the shipping company’s stock valued at $14,959,000 after purchasing an additional 31,596 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of Genco Shipping & Trading by 0.9% in the 3rd quarter. Bridgeway Capital Management LLC now owns 456,157 shares of the shipping company’s stock valued at $8,120,000 after purchasing an additional 4,288 shares during the period. Finally, CSM Advisors LLC raised its stake in shares of Genco Shipping & Trading by 18.4% in the 3rd quarter. CSM Advisors LLC now owns 351,045 shares of the shipping company’s stock valued at $6,248,000 after purchasing an additional 54,575 shares during the period. Institutional investors and hedge funds own 58.62% of the company’s stock.

Analyst Upgrades and Downgrades

GNK has been the topic of several recent research reports. Zacks Research downgraded Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $29.00 price target on shares of Genco Shipping & Trading in a research note on Friday, May 8th. Weiss Ratings raised Genco Shipping & Trading from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Finally, Alliance Global Partners downgraded Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.67.

Genco Shipping & Trading Price Performance

Shares of NYSE GNK opened at $23.66 on Friday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 62.26, a PEG ratio of 3.39 and a beta of 0.95. The business has a 50-day moving average of $24.17 and a 200-day moving average of $21.80. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.98 and a quick ratio of 2.41. Genco Shipping & Trading Limited has a fifty-two week low of $12.84 and a fifty-two week high of $27.25.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Wednesday, May 6th. The shipping company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.19. The company had revenue of $114.43 million during the quarter, compared to analysts’ expectations of $65.73 million. Genco Shipping & Trading had a return on equity of 2.49% and a net margin of 4.38%.Genco Shipping & Trading’s revenue for the quarter was up 60.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.28) EPS. As a group, sell-side analysts predict that Genco Shipping & Trading Limited will post 1.81 earnings per share for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 18th were issued a $0.35 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.40 annualized dividend and a dividend yield of 5.9%. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 368.42%.

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.