Cwm LLC Grows Stake in Genco Shipping & Trading Limited (NYSE:GNK)

Cwm LLC grew its stake in Genco Shipping & Trading Limited (NYSE:GNK) by 550.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,796 shares of the shipping company’s stock after acquiring an additional 3,212 shares during the quarter. Cwm LLC’s holdings in Genco Shipping & Trading were worth $63,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of Genco Shipping & Trading by 696.5% in the 4th quarter. SG Americas Securities LLC now owns 78,118 shares of the shipping company’s stock valued at $1,296,000 after acquiring an additional 68,310 shares during the period. Key Colony Management LLC purchased a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $1,510,000. Moors & Cabot Inc. increased its holdings in shares of Genco Shipping & Trading by 76.0% in the 3rd quarter. Moors & Cabot Inc. now owns 47,469 shares of the shipping company’s stock valued at $664,000 after acquiring an additional 20,500 shares during the period. MQS Management LLC purchased a new position in shares of Genco Shipping & Trading in the 3rd quarter valued at $361,000. Finally, Swiss National Bank increased its holdings in shares of Genco Shipping & Trading by 1.1% in the 3rd quarter. Swiss National Bank now owns 93,400 shares of the shipping company’s stock valued at $1,307,000 after acquiring an additional 1,000 shares during the period. 58.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GNK. Stifel Nicolaus lifted their price target on Genco Shipping & Trading from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, April 19th. TheStreet raised Genco Shipping & Trading from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. Finally, StockNews.com cut Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Genco Shipping & Trading presently has a consensus rating of “Hold” and a consensus price target of $21.00.

Genco Shipping & Trading Stock Up 0.9 %

Genco Shipping & Trading stock opened at $22.65 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.46 and a quick ratio of 3.70. The stock has a market capitalization of $968.33 million, a price-to-earnings ratio of -73.06 and a beta of 1.11. Genco Shipping & Trading Limited has a 1-year low of $12.39 and a 1-year high of $22.67. The business has a fifty day moving average price of $20.74 and a 200-day moving average price of $17.62.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, February 21st. The shipping company reported $0.43 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 company had revenue of $115.50 million during the quarter, compared to analysts’ expectations of $72.54 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm’s revenue was down 9.1% compared to the same quarter last year. Equities research analysts forecast that Genco Shipping & Trading Limited will post 1.93 EPS for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.64 dividend on an annualized basis and a yield of 7.24%. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.15. Genco Shipping & Trading’s payout ratio is currently -529.03%.

Insiders Place Their Bets

In other Genco Shipping & Trading news, insider Jesper Christensen sold 12,404 shares of Genco Shipping & Trading stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $19.80, for a total transaction of $245,599.20. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Joseph Adamo sold 1,396 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $20.40, for a total value of $28,478.40. Following the completion of the transaction, the chief accounting officer now owns 17,994 shares of the company’s stock, valued at approximately $367,077.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jesper Christensen sold 12,404 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $19.80, for a total value of $245,599.20. Following the completion of the transaction, the insider now directly owns 42,587 shares of the company’s stock, valued at approximately $843,222.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,496 shares of company stock valued at $1,238,678. 2.08% of the stock is owned by company insiders.

Genco Shipping & Trading Company Profile

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.