Genco Shipping & Trading Limited (NYSE:GNK) Position Boosted by Foundry Partners LLC

Foundry Partners LLC lifted its holdings in shares of Genco Shipping & Trading Limited (NYSE:GNK - Free Report) by 8.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 365,255 shares of the shipping company's stock after purchasing an additional 28,795 shares during the quarter. Foundry Partners LLC owned about 0.85% of Genco Shipping & Trading worth $5,092,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Teacher Retirement System of Texas acquired a new stake in Genco Shipping & Trading during the fourth quarter worth approximately $3,692,000. Charles Schwab Investment Management Inc. grew its position in Genco Shipping & Trading by 70.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company's stock valued at $10,345,000 after buying an additional 219,907 shares during the last quarter. JPMorgan Chase & Co. raised its position in Genco Shipping & Trading by 155.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company's stock worth $5,559,000 after buying an additional 173,270 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Genco Shipping & Trading by 23.9% in the fourth quarter. Royce & Associates LP now owns 597,860 shares of the shipping company's stock valued at $8,334,000 after acquiring an additional 115,173 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Genco Shipping & Trading by 8.9% during the fourth quarter. American Century Companies Inc. now owns 1,361,597 shares of the shipping company's stock worth $18,981,000 after acquiring an additional 111,564 shares during the period. Hedge funds and other institutional investors own 58.62% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com lowered Genco Shipping & Trading from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Jefferies Financial Group reduced their price target on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Finally, Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a report on Monday, March 31st. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $23.00.

Insider Buying and Selling at Genco Shipping & Trading

In other news, insider Jesper Christensen sold 13,602 shares of Genco Shipping & Trading stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $189,883.92. Following the sale, the insider now owns 57,322 shares in the company, valued at $800,215.12. This trade represents a 19.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Peter George Allen sold 8,984 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 $125,416.64. Following the transaction, the chief financial officer now owns 45,251 shares of the company's stock, valued at approximately $631,703.96. This trade represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,812 shares of company stock valued at $402,216 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Genco Shipping & Trading Trading Down 3.6 %

GNK traded down $0.45 during trading on Thursday, hitting $12.05. The company's stock had a trading volume of 340,556 shares, compared to its average volume of 547,311. Genco Shipping & Trading Limited has a twelve month low of $11.20 and a twelve month high of $23.43. The firm's 50 day moving average price is $13.81 and its 200-day moving average price is $15.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. The stock has a market cap of $515.15 million, a PE ratio of 6.90, a PEG ratio of 5.64 and a beta of 0.96.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.27). The business had revenue of $67.95 million during the quarter, compared to analyst estimates of $67.36 million. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. On average, analysts expect that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 9.96%. Genco Shipping & Trading's dividend payout ratio is presently 68.57%.

Genco Shipping & Trading Company 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.