Segall Bryant & Hamill LLC Makes New $552,000 Investment in Genco Shipping & Trading Limited (NYSE:GNK)

Segall Bryant & Hamill LLC purchased a new position in Genco Shipping & Trading Limited (NYSE:GNK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 39,612 shares of the shipping company's stock, valued at approximately $552,000. Segall Bryant & Hamill LLC owned about 0.09% of Genco Shipping & Trading at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GNK. R Squared Ltd acquired a new stake in Genco Shipping & Trading in the 4th quarter worth approximately $29,000. Quarry LP lifted its stake in shares of Genco Shipping & Trading by 535.8% in the third 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. Nisa Investment Advisors LLC boosted its holdings in shares of Genco Shipping & Trading by 830.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company's stock worth $154,000 after buying an additional 9,847 shares during the period. AXQ Capital LP acquired a new position in Genco Shipping & Trading in the 4th quarter valued at $162,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Genco Shipping & Trading by 26.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,190 shares of the shipping company's stock valued at $198,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 58.62% of the company's stock.

Genco Shipping & Trading Stock Performance

Shares of NYSE:GNK traded up $0.05 on Monday, hitting $13.41. 950,414 shares of the company were exchanged, compared to its average volume of 536,896. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. The company's 50 day moving average price is $14.18 and its two-hundred day moving average price is $15.51. Genco Shipping & Trading Limited has a one year low of $13.08 and a one year high of $23.43. The firm has a market capitalization of $573.17 million, a price-to-earnings ratio of 7.66, a PEG ratio of 5.64 and a beta of 0.99.

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

Genco Shipping & Trading Cuts Dividend

The firm 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 dividend on an annualized basis and a yield of 8.95%. Genco Shipping & Trading's dividend payout ratio is currently 68.57%.

Insider Buying and Selling at Genco Shipping & Trading

In other news, insider Jesper Christensen sold 13,602 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $189,883.92. Following the sale, the insider now directly owns 57,322 shares in the company, valued at approximately $800,215.12. This represents a 19.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Peter George Allen sold 8,984 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $125,416.64. Following the completion of the transaction, the chief financial officer now directly owns 45,251 shares of the company's stock, valued at approximately $631,703.96. The trade was a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,812 shares of company stock valued at $402,216 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GNK has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased 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 report on Thursday, February 20th. StockNews.com downgraded Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.00.

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.