Petrus Trust Company LTA acquired a new stake in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 33,896 shares of the shipping company's stock, valued at approximately $661,000. Petrus Trust Company LTA owned 0.08% of Genco Shipping & Trading as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Genco Shipping & Trading by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,147,377 shares of the shipping company's stock valued at $23,326,000 after purchasing an additional 47,060 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Genco Shipping & Trading by 17.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,058 shares of the shipping company's stock valued at $246,000 after purchasing an additional 1,782 shares in the last quarter. Tidal Investments LLC raised its position in Genco Shipping & Trading by 18.4% during the 1st quarter. Tidal Investments LLC now owns 19,743 shares of the shipping company's stock valued at $401,000 after purchasing an additional 3,068 shares in the last quarter. CWM LLC raised its position in Genco Shipping & Trading by 109.5% during the 2nd quarter. CWM LLC now owns 1,909 shares of the shipping company's stock valued at $41,000 after purchasing an additional 998 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in Genco Shipping & Trading by 10.0% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 23,046 shares of the shipping company's stock valued at $491,000 after purchasing an additional 2,101 shares in the last quarter. Hedge funds and other institutional investors own 58.62% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Jefferies Financial Group reissued a "buy" rating and issued a $25.00 price target on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Stifel Nicolaus lowered Genco Shipping & Trading from a "buy" rating to a "hold" rating and reduced their price target for the stock from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Genco Shipping & Trading in a research report on Wednesday, September 4th. They issued a "buy" rating and a $22.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Genco Shipping & Trading presently has an average rating of "Moderate Buy" and an average price target of $24.20.
Get Our Latest Stock Analysis on Genco Shipping & Trading
Genco Shipping & Trading Stock Up 1.1 %
NYSE:GNK traded up $0.17 during mid-day trading on Thursday, hitting $15.75. 464,947 shares of the company's stock traded hands, compared to its average volume of 582,399. The company has a fifty day moving average of $17.02 and a 200 day moving average of $18.71. Genco Shipping & Trading Limited has a twelve month low of $14.02 and a twelve month high of $23.43. The company has a market capitalization of $673.26 million, a P/E ratio of 10.03, a P/E/G ratio of 0.25 and a beta of 0.96. 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 (NYSE:GNK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%. The company had revenue of $99.33 million for the quarter, compared to analyst estimates of $72.02 million. During the same period in the prior year, the company posted ($0.09) EPS. The firm's quarterly revenue was up 19.2% compared to the same quarter last year. On average, analysts forecast that Genco Shipping & Trading Limited will post 1.74 EPS for the current year.
Genco Shipping & Trading Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were given a dividend of $0.40 per share. This is a positive change from Genco Shipping & Trading's previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a yield of 10.16%. The ex-dividend date was Monday, November 18th. Genco Shipping & Trading's dividend payout ratio is currently 101.91%.
Genco Shipping & Trading Profile
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Free Report)
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.
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