Genco Shipping & Trading Limited $GNK Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in Genco Shipping & Trading Limited (NYSE:GNK) by 364.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 307,663 shares of the shipping company’s stock after buying an additional 241,471 shares during the quarter. SG Americas Securities LLC’s holdings in Genco Shipping & Trading were worth $6,938,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Strengthening Families & Communities LLC acquired a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at $31,000. Advisory Services Network LLC acquired a new position in shares of Genco Shipping & Trading in the 3rd quarter worth $30,000. Kemnay Advisory Services Inc. acquired a new position in shares of Genco Shipping & Trading in the 4th quarter worth $32,000. Sunbelt Securities Inc. acquired a new stake in shares of Genco Shipping & Trading during the third quarter worth $35,000. Finally, PNC Financial Services Group Inc. raised its position in shares of 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 purchasing an additional 1,131 shares during the period. Institutional investors own 58.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings raised Genco Shipping & Trading from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 8th. 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. Zacks Research downgraded Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Alliance Global Partners reiterated a “neutral” rating on shares of Genco Shipping & Trading in a report on Wednesday, June 17th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.67.

Genco Shipping & Trading Stock Performance

Shares of NYSE GNK opened at $23.49 on Monday. 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 one year low of $12.91 and a one year high of $27.25. The business’s 50-day moving average price is $24.17 and its two-hundred day moving average price is $22.17. The company has a market capitalization of $1.02 billion, a P/E ratio of 61.81, a price-to-earnings-growth ratio of 3.40 and a beta of 0.95.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings results on Wednesday, May 6th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.19. The business had revenue of $114.43 million during the quarter, compared to analyst estimates of $65.73 million. Genco Shipping & Trading had a return on equity of 2.49% and a net margin of 4.38%.The firm’s revenue was up 60.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.28) EPS. Analysts anticipate that Genco Shipping & Trading Limited will post 1.81 earnings per share for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 18th were paid a $0.35 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.40 dividend on an annualized basis and a yield of 6.0%. Genco Shipping & Trading’s payout ratio is 368.42%.

Genco Shipping & Trading 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.