Linden Thomas Advisory Services LLC Grows Stock Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Linden Thomas Advisory Services LLC increased its position in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 26.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,755 shares of the shipping company’s stock after purchasing an additional 3,745 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Genco Shipping & Trading were worth $295,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Genco Shipping & Trading in the 3rd quarter valued at about $137,000. Accurate Wealth Management LLC acquired a new position in Genco Shipping & Trading in the third quarter valued at approximately $267,000. Raymond James Financial Services Advisors Inc. increased its stake in Genco Shipping & Trading by 10.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 13,092 shares of the shipping company’s stock valued at $183,000 after purchasing an additional 1,198 shares during the last quarter. Gratus Capital LLC raised its holdings in Genco Shipping & Trading by 1.4% during the third quarter. Gratus Capital LLC now owns 467,302 shares of the shipping company’s stock worth $6,538,000 after purchasing an additional 6,396 shares in the last quarter. Finally, Townsend & Associates Inc lifted its position in shares of Genco Shipping & Trading by 15.9% during the 3rd quarter. Townsend & Associates Inc now owns 610,192 shares of the shipping company’s stock worth $8,024,000 after buying an additional 83,616 shares during the last quarter. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Insider Buying and Selling

In other Genco Shipping & Trading news, insider Jesper Christensen sold 12,404 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $245,599.20. Following the completion of the transaction, the insider now owns 42,587 shares in the company, valued at approximately $843,222.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Genco Shipping & Trading news, insider Jesper Christensen sold 12,404 shares of Genco Shipping & Trading stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.80, for a total value of $245,599.20. Following the sale, the insider now owns 42,587 shares of the company’s stock, valued at approximately $843,222.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Joseph Adamo sold 1,396 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $20.40, for a total value of $28,478.40. Following the transaction, the chief accounting officer now owns 17,994 shares in the company, valued at approximately $367,077.60. The disclosure for this sale can be found here. Insiders sold a total of 62,496 shares of company stock valued at $1,238,678 over the last three months. 2.50% of the stock is currently owned by company insiders.

Genco Shipping & Trading Price Performance

Shares of Genco Shipping & Trading stock opened at $21.55 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.46 and a quick ratio of 3.70. Genco Shipping & Trading Limited has a 1 year low of $12.39 and a 1 year high of $21.61. The company’s fifty day moving average is $20.26 and its two-hundred day moving average is $17.18.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, February 21st. The shipping company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Genco Shipping & Trading had a positive return on equity of 3.10% and a negative net margin of 3.35%. The firm had revenue of $115.50 million for the quarter, compared to analyst estimates of $72.54 million. During the same quarter last year, the company posted $0.67 earnings per share. The business’s revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Genco Shipping & Trading Limited will post 1.93 earnings per share for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Wednesday, March 6th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.15. This represents a $1.64 annualized dividend and a dividend yield of 7.61%. Genco Shipping & Trading’s dividend payout ratio (DPR) is currently -529.03%.

Analyst Ratings Changes

A number of research firms recently commented on GNK. BTIG Research reaffirmed a “neutral” rating on shares of Genco Shipping & Trading in a research report on Friday, January 5th. TheStreet raised Genco Shipping & Trading from a “c” rating to a “b-” rating in a report on Thursday, February 22nd. StockNews.com downgraded Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Finally, Stifel Nicolaus upped their target price on Genco Shipping & Trading from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Genco Shipping & Trading presently has an average rating of “Hold” and an average price target of $21.00.

About Genco Shipping & Trading

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.