Accurate Wealth Management LLC Has $817,000 Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Accurate Wealth Management LLC cut its position in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,906 shares of the shipping company’s stock after selling 4,347 shares during the period. Accurate Wealth Management LLC owned about 0.14% of Genco Shipping & Trading worth $817,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Banque Transatlantique SA bought a new stake in Genco Shipping & Trading in the 4th quarter valued at $28,000. New Age Alpha Advisors LLC acquired a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at about $56,000. GAMMA Investing LLC boosted its position in shares of Genco Shipping & Trading by 1,119.1% during the 1st quarter. GAMMA Investing LLC now owns 4,462 shares of the shipping company’s stock valued at $60,000 after acquiring an additional 4,096 shares in the last quarter. Mariner LLC bought a new stake in Genco Shipping & Trading in the fourth quarter valued at about $147,000. Finally, AXQ Capital LP acquired a new position in Genco Shipping & Trading in the fourth quarter worth about $162,000. 58.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GNK. Jefferies Financial Group reaffirmed a “buy” rating and set a $17.00 price objective on shares of Genco Shipping & Trading in a report on Thursday, May 8th. Dnb Nor Markets raised Genco Shipping & Trading to a “strong-buy” rating in a research note on Thursday, May 1st. Wall Street Zen lowered Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, Pareto Securities raised Genco Shipping & Trading to a “strong-buy” rating in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

Genco Shipping & Trading Stock Up 0.3%

Shares of GNK opened at $13.54 on Wednesday. The company has a market capitalization of $581.45 million, a P/E ratio of 7.73, a PEG ratio of 5.64 and a beta of 1.22. Genco Shipping & Trading Limited has a one year low of $11.20 and a one year high of $22.18. The business’s 50 day simple moving average is $13.10 and its 200-day simple moving average is $13.93. 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 posted its quarterly earnings data on Wednesday, May 7th. The shipping company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The business had revenue of $41.64 million during the quarter, compared to analyst estimates of $43.49 million. During the same period in the prior year, the firm posted $0.49 EPS. Genco Shipping & Trading’s revenue for the quarter was down 39.3% compared to the same quarter last year. As a group, sell-side analysts predict that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.15 per share. This represents a yield of 4.28%. The ex-dividend date was Thursday, May 22nd. Genco Shipping & Trading’s dividend payout ratio is currently 57.69%.

Genco Shipping & Trading Company 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.