42,750 Shares in Genco Shipping & Trading Limited (NYSE:GNK) Acquired by Raiffeisen Bank International AG

Raiffeisen Bank International AG acquired a new position in shares of Genco Shipping & Trading Limited (NYSE:GNK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 42,750 shares of the shipping company’s stock, valued at approximately $591,000. Raiffeisen Bank International AG owned 0.10% of Genco Shipping & Trading at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in shares of Genco Shipping & Trading by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,838,759 shares of the shipping company’s stock worth $39,572,000 after purchasing an additional 10,193 shares during the period. American Century Companies Inc. grew its stake in Genco Shipping & Trading by 8.9% during the fourth quarter. American Century Companies Inc. now owns 1,361,597 shares of the shipping company’s stock worth $18,981,000 after buying an additional 111,564 shares in the last quarter. Townsend & Associates Inc grew its stake in Genco Shipping & Trading by 2.2% during the fourth quarter. Townsend & Associates Inc now owns 1,071,959 shares of the shipping company’s stock worth $15,318,000 after buying an additional 23,101 shares in the last quarter. Geode Capital Management LLC increased its holdings in Genco Shipping & Trading by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 990,357 shares of the shipping company’s stock valued at $13,809,000 after buying an additional 10,260 shares during the period. Finally, Royce & Associates LP raised its position in shares of Genco Shipping & Trading by 23.9% in the 4th quarter. Royce & Associates LP now owns 597,860 shares of the shipping company’s stock valued at $8,334,000 after buying an additional 115,173 shares in the last quarter. 58.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $17.00 price target on shares of Genco Shipping & Trading in a research report on Thursday, May 8th. StockNews.com cut Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Friday, May 9th. Pareto Securities upgraded Genco Shipping & Trading to a “strong-buy” rating in a research note on Monday, March 31st. Finally, Dnb Nor Markets raised Genco Shipping & Trading to a “strong-buy” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.75.

Genco Shipping & Trading Stock Performance

Shares of Genco Shipping & Trading stock opened at $14.20 on Friday. The company’s 50 day moving average price is $13.18 and its two-hundred day moving average price is $14.36. The firm has a market capitalization of $609.80 million, a P/E ratio of 8.11, a P/E/G ratio of 5.64 and a beta of 1.17. Genco Shipping & Trading Limited has a fifty-two week low of $11.20 and a fifty-two week high of $23.39. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings data on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The firm had revenue of $41.64 million for the quarter, compared to analyst estimates of $43.49 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The company’s revenue was down 39.3% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. On average, equities analysts forecast that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 8.45%. The ex-dividend date was Tuesday, March 11th. Genco Shipping & Trading’s dividend payout ratio is currently 57.69%.

Insider Activity at Genco Shipping & Trading

In related news, CFO Peter George Allen sold 8,984 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $125,416.64. Following the completion of the sale, the chief financial officer now directly owns 45,251 shares in the company, valued at $631,703.96. This represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Joseph Adamo sold 6,226 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $86,914.96. Following the transaction, the chief accounting officer now directly owns 26,829 shares of the company’s stock, valued at approximately $374,532.84. This represents a 18.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,812 shares of company stock worth $402,216 in the last quarter. 2.37% of the stock is owned by insiders.

Genco Shipping & Trading Profile

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, bauxite, steel products, and other drybulk cargoes. It operates through the Major Bulk and Minor Bulk segments. The Major Bulk segment focuses on Capesize vessels. The Minor Bulk segment consists of Ultramax and Supramax vessels.