Accurate Wealth Management LLC Acquires 31,890 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

Accurate Wealth Management LLC raised its position in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 92.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,253 shares of the shipping company's stock after purchasing an additional 31,890 shares during the quarter. Accurate Wealth Management LLC owned 0.15% of Genco Shipping & Trading worth $960,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in Genco Shipping & Trading during the second quarter worth $82,000. Quarry LP boosted its stake in shares of Genco Shipping & Trading by 535.8% during the 3rd quarter. Quarry LP now owns 4,266 shares of the shipping company's stock worth $83,000 after buying an additional 3,595 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Genco Shipping & Trading during the 2nd quarter worth approximately $178,000. Wealth Enhancement Advisory Services LLC increased its holdings in Genco Shipping & Trading by 26.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,190 shares of the shipping company's stock worth $198,000 after buying an additional 3,000 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Genco Shipping & Trading during the third quarter worth $202,000. 58.62% of the stock is currently owned by institutional investors.

Genco Shipping & Trading Stock Performance

Genco Shipping & Trading stock traded down $0.40 during midday trading on Thursday, hitting $14.23. The company's stock had a trading volume of 229,025 shares, compared to its average volume of 389,215. The company has a 50-day moving average price of $15.37 and a two-hundred day moving average price of $17.21. Genco Shipping & Trading Limited has a 1-year low of $13.51 and a 1-year high of $23.43. The company has a market cap of $608.23 million, a price-to-earnings ratio of 9.06, a PEG ratio of 0.24 and a beta of 0.99. 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 - Get Free Report) last issued its quarterly 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. The business had revenue of $99.33 million during the quarter, compared to analysts' expectations of $72.02 million. Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%. The firm's revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) earnings per share. As a group, sell-side analysts predict that Genco Shipping & Trading Limited will post 1.75 earnings per share for the current year.

Genco Shipping & Trading Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.25%. The ex-dividend date of this dividend was Monday, November 18th. This is an increase from Genco Shipping & Trading's previous quarterly dividend of $0.34. Genco Shipping & Trading's payout ratio is 101.91%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com downgraded shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Jefferies Financial Group reissued a "buy" rating and issued a $25.00 price objective on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Finally, Stifel Nicolaus downgraded shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating and reduced their target price for the stock from $26.00 to $17.00 in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.20.

About Genco Shipping & Trading

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.