Quadrature Capital Ltd Has $345,000 Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Quadrature Capital Ltd increased its position in shares of Genco Shipping & Trading Limited (NYSE:GNK – Get Rating) by 47.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,517 shares of the shipping company’s stock after buying an additional 8,794 shares during the period. Quadrature Capital Ltd owned 0.07% of Genco Shipping & Trading worth $345,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of Genco Shipping & Trading during the first quarter worth about $26,000. Penserra Capital Management LLC purchased a new stake in shares of Genco Shipping & Trading during the 1st quarter valued at approximately $47,000. Ensign Peak Advisors Inc increased its holdings in Genco Shipping & Trading by 53.2% during the 3rd quarter. Ensign Peak Advisors Inc now owns 2,420 shares of the shipping company’s stock worth $30,000 after acquiring an additional 840 shares during the period. Tower Research Capital LLC TRC increased its holdings in Genco Shipping & Trading by 114.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,603 shares of the shipping company’s stock worth $32,000 after acquiring an additional 1,387 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Genco Shipping & Trading by 100.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 4,000 shares of the shipping company’s stock worth $50,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 67.67% of the company’s stock.

Insider Buying and Selling at Genco Shipping & Trading

In other Genco Shipping & Trading news, insider Robert E. Hughes sold 2,572 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $19.36, for a total value of $49,793.92. Following the sale, the insider now owns 3,529 shares in the company, valued at approximately $68,321.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Robert E. Hughes sold 2,572 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $19.36, for a total transaction of $49,793.92. Following the completion of the sale, the insider now directly owns 3,529 shares of the company’s stock, valued at approximately $68,321.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. Wobensmith sold 17,760 shares of Genco Shipping & Trading stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $19.35, for a total value of $343,656.00. Following the completion of the transaction, the chief executive officer now directly owns 416,859 shares of the company’s stock, valued at $8,066,221.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,982 shares of company stock valued at $813,285. 2.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GNK. BTIG Research cut their price objective on shares of Genco Shipping & Trading to $22.00 in a research note on Tuesday, November 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 price target on shares of Genco Shipping & Trading in a research note on Thursday, February 23rd. Finally, Alliance Global Partners decreased their price target on shares of Genco Shipping & Trading to $27.00 in a research note on Wednesday, November 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.20.

Genco Shipping & Trading Trading Down 1.4 %

Genco Shipping & Trading stock opened at $16.96 on Monday. The firm’s 50 day moving average price is $17.53 and its 200-day moving average price is $15.39. Genco Shipping & Trading Limited has a 1 year low of $11.92 and a 1 year high of $27.15. The stock has a market cap of $717.87 million, a P/E ratio of 4.60 and a beta of 1.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.43 and a quick ratio of 2.84.

Genco Shipping & Trading (NYSE:GNK – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The shipping company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. The business had revenue of $127.00 million for the quarter, compared to analysts’ expectations of $76.22 million. Genco Shipping & Trading had a net margin of 29.53% and a return on equity of 16.76%. The business’s revenue was down 30.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.99 earnings per share. On average, equities analysts predict that Genco Shipping & Trading Limited will post 2.1 earnings per share for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 14th. Shareholders of record on Tuesday, March 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 11.79%. The ex-dividend date of this dividend is Monday, March 6th. Genco Shipping & Trading’s payout ratio is 54.20%.

About Genco Shipping & Trading

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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. It operates through the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carrier vessels segment.