SG Americas Securities LLC reduced its holdings in shares of Genco Shipping & Trading Ltd (NYSE:GNK – Get Rating ) by 49.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 27,604 shares of the shipping company’s stock after selling 27,402 shares during the period. SG Americas Securities LLC owned 0.07% of Genco Shipping & Trading worth $346,000 at the end of the most recent reporting period.
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Several other institutional investors and hedge funds also recently made changes to their positions in GNK. Raymond James & Associates bought a new stake in shares of Genco Shipping & Trading during the 1st quarter valued at $276,000. New York Mellon Corp boosted its position in shares of Genco Shipping & Trading by 17.1% during the 1st quarter. Bank of New York Mellon Corp now owns 173,010 shares of the shipping company’s stock valued at $4,085,000 after acquiring an additional 25,300 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Genco Shipping & Trading in the 1st quarter valued at $26,000. LSV Asset Management lifted its stake in Genco Shipping & Trading by 85.9% during the 1st quarter. LSV Asset Management now owns 100,900 shares of the shipping company’s stock worth $2,383,000 after buying an additional 46,632 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Genco Shipping & Trading by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,916,725 shares of the shipping company’s stock worth $45,272,000 after acquiring an additional 164,117 shares in the last quarter. Institutional investors own 67.67 percent of the company.
Changes in analyst standards
GNK has been the subject of several recent analyst reports. B. Riley dropped their price target on Genco Shipping & Trading from $31.00 to $27.00 and set a “buy” rating for the company in a report on Monday, October 10th. Alliance Global Partners In the year They dropped their target price on shares of Genco Shipping & Trading to $27.00 in a report on November 16th. StockNews.com assumed coverage on shares of Genco Shipping & Trading in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, BTIG Research dropped their target price on shares of Genco Shipping & Trading to $22.00 in a report on Tuesday, November 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Neutral Buy” and a consensus price target of $23.20.
Genco shipping and pricing performance
Shares of GNK opened at $17.90 on Friday. The stock has a market capitalization of $757.71 million, a P/E ratio of 3.48 and a beta of 1.01. Genco Shipping & Trading Limited has a twelve month low of $11.92 and a twelve month high of $27.15. The company has a 50-day moving average of $15.38 and a 200-day moving average of $15.23. The company has a quick ratio of 2.05, a current ratio of 2.63 and a debt-equity ratio of 0.18.
Genco Shipping & Trading (NYSE:GNK – Get Rating ) last issued its quarterly earnings results on Wednesday, November 9th. The shipping company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.12. The company had revenue of $96.47 million for the quarter, compared to analysts’ expectations of $91.19 million. Genco Shipping & Trading had a net margin of 37.21% and a return on equity of 22.98%. On a group basis, equities research analysts predict that Genco Shipping & Trading Limited will post 3.66 EPS for the current fiscal year.
Genco includes shipping and business divisions
The business recently disclosed a quarterly dividend, which was paid on November 28th. Shareholders of record on Monday, November 21st were given a $0.78 dividend. This represents an annual dividend of $3.12 and a dividend yield of 17.43%. The ex-date of this dividend was Friday, November 18. This is an increase of $0.50 from Genco Shipping & Trading’s previous quarter’s dividend. Genco Shipping & Trading’s dividend yield is currently 60.58%.
Genco Shipping and Trading Company Profile
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Genco Shipping & Trading Limited, together with its subsidiaries, is involved in ocean dry bulk cargo worldwide. The company owns and operates dry bulk carriers for the transportation of iron ore, coal, grain, steel products and other dry cargoes. It leases its vessels primarily to businesses, including commodity traders, manufacturers; and government-owned entities.
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