EntryPoint Capital LLC Takes $235,000 Position in Genco Shipping & Trading Limited (NYSE:GNK)

EntryPoint Capital LLC purchased a new position in shares of Genco Shipping & Trading Limited (NYSE:GNK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,863 shares of the shipping company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd bought a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at $29,000. Quarry LP grew its stake in shares of Genco Shipping & Trading by 535.8% during the third quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock worth $83,000 after purchasing an additional 3,595 shares during the period. Intech Investment Management LLC bought a new stake in Genco Shipping & Trading in the third quarter valued at about $202,000. Nisa Investment Advisors LLC lifted its stake in Genco Shipping & Trading by 830.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company’s stock valued at $154,000 after buying an additional 9,847 shares during the period. Finally, AXQ Capital LP bought a new position in Genco Shipping & Trading during the fourth quarter worth about $162,000. 58.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GNK shares. Jefferies Financial Group cut their price target on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. StockNews.com cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Genco Shipping & Trading Stock Performance

Shares of GNK stock opened at $13.39 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. Genco Shipping & Trading Limited has a 52 week low of $13.08 and a 52 week high of $23.43. The company’s 50 day moving average price is $14.18 and its two-hundred day moving average price is $15.52. The company has a market capitalization of $572.32 million, a P/E ratio of 7.65, a price-to-earnings-growth ratio of 5.64 and a beta of 0.99.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.27). The company had revenue of $67.95 million during the quarter, compared to the consensus estimate of $67.36 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. On average, analysts expect 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. Investors of record on Tuesday, March 11th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.97%. Genco Shipping & Trading’s payout ratio is presently 68.57%.

Insider Activity at Genco Shipping & Trading

In related news, CFO Peter George Allen sold 8,984 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $125,416.64. Following the sale, the chief financial officer now owns 45,251 shares in the company, valued at approximately $631,703.96. This represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jesper Christensen sold 13,602 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $189,883.92. Following the transaction, the insider now directly owns 57,322 shares of the company’s stock, valued at $800,215.12. This trade represents a 19.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,812 shares of company stock valued at $402,216. 2.50% 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, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.