Genco Shipping & Trading Limited $GNK Stock Position Raised by UBS Group AG

UBS Group AG raised its position in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 33.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,263 shares of the shipping company’s stock after purchasing an additional 38,310 shares during the period. UBS Group AG owned 0.35% of Genco Shipping & Trading worth $2,825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. raised its stake in shares of Genco Shipping & Trading by 4.0% during the 3rd quarter. American Century Companies Inc. now owns 1,611,227 shares of the shipping company’s stock worth $28,680,000 after purchasing an additional 62,030 shares in the last quarter. Townsend & Associates Inc raised its stake in shares of Genco Shipping & Trading by 0.7% during the 4th quarter. Townsend & Associates Inc now owns 1,276,311 shares of the shipping company’s stock worth $25,373,000 after purchasing an additional 8,488 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Genco Shipping & Trading by 3.9% during the 3rd quarter. Focus Partners Wealth now owns 836,775 shares of the shipping company’s stock worth $14,959,000 after purchasing an additional 31,596 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in shares of Genco Shipping & Trading by 0.9% in the 3rd quarter. Bridgeway Capital Management LLC now owns 456,157 shares of the shipping company’s stock valued at $8,120,000 after acquiring an additional 4,288 shares in the last quarter. Finally, CSM Advisors LLC raised its stake in shares of Genco Shipping & Trading by 18.4% in the 3rd quarter. CSM Advisors LLC now owns 351,045 shares of the shipping company’s stock valued at $6,248,000 after acquiring an additional 54,575 shares in the last quarter. 58.62% of the stock is owned by hedge funds and other institutional investors.

Genco Shipping & Trading Stock Up 0.0%

Shares of GNK stock opened at $23.39 on Tuesday. The stock’s 50 day simple moving average is $23.69 and its 200 day simple moving average is $21.21. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.41 and a current ratio of 2.98. Genco Shipping & Trading Limited has a twelve month low of $12.66 and a twelve month high of $27.25. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 61.56, a PEG ratio of 3.37 and a beta of 0.97.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings data on Wednesday, May 6th. The shipping company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.19. The business had revenue of $114.43 million for the quarter, compared to the consensus estimate of $65.73 million. Genco Shipping & Trading had a return on equity of 2.49% and a net margin of 4.38%.The firm’s revenue was up 60.6% compared to the same quarter last year. During the same period last year, the business earned ($0.28) EPS. As a group, research analysts predict that Genco Shipping & Trading Limited will post 1.81 EPS for the current year.

Genco Shipping & Trading Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Monday, May 18th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Monday, May 18th. Genco Shipping & Trading’s payout ratio is currently 368.42%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GNK shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $29.00 price objective on shares of Genco Shipping & Trading in a research note on Friday, May 8th. Zacks Research downgraded Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings raised Genco Shipping & Trading from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Finally, Alliance Global Partners downgraded Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.67.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.