Shell Asset Management Co. Has $183,000 Stake in Genco Shipping & Trading Limited (NYSE:GNK)

Shell Asset Management Co. trimmed its position in shares of Genco Shipping & Trading Limited (NYSE:GNK – Get Rating) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,922 shares of the shipping company’s stock after selling 2,420 shares during the period. Shell Asset Management Co.’s holdings in Genco Shipping & Trading were worth $183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GNK. Acadian Asset Management LLC bought a new stake in shares of Genco Shipping & Trading in the first quarter valued at about $26,000. Ensign Peak Advisors Inc increased its stake in shares of Genco Shipping & Trading by 53.2% in the third quarter. Ensign Peak Advisors Inc now owns 2,420 shares of the shipping company’s stock valued at $30,000 after buying an additional 840 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Genco Shipping & Trading by 114.1% in the third quarter. Tower Research Capital LLC TRC now owns 2,603 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,387 shares during the period. Parallel Advisors LLC increased its position in Genco Shipping & Trading by 38,300.0% during the 4th quarter. Parallel Advisors LLC now owns 2,304 shares of the shipping company’s stock valued at $35,000 after purchasing an additional 2,298 shares during the period. Finally, Gladius Capital Management LP acquired a new stake in Genco Shipping & Trading during the 4th quarter valued at approximately $41,000. 67.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Genco Shipping & Trading

In other news, CEO John C. Wobensmith sold 17,760 shares of the business’s stock in a transaction on Thursday, February 23rd. The stock was 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 approximately $8,066,221.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Robert E. Hughes sold 2,572 shares of the company’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 transaction, 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 is available at this link. Also, CEO John C. Wobensmith sold 17,760 shares of the company’s 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 transaction, the chief executive officer now directly owns 416,859 shares in the company, valued at $8,066,221.65. The disclosure for this sale can be found here. Insiders sold a total of 51,405 shares of company stock valued at $945,490 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GNK. StockNews.com initiated coverage on Genco Shipping & Trading in a report on Thursday, March 16th. They issued a “hold” rating on the stock. TheStreet downgraded Genco Shipping & Trading from a “b” rating to a “c+” rating in a research note on Monday, March 13th. Stifel Nicolaus raised their target price on Genco Shipping & Trading from $23.00 to $24.00 in a research note on Tuesday, April 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $20.00 price target on shares of Genco Shipping & Trading in a research report on Thursday, February 23rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Genco Shipping & Trading has an average rating of “Moderate Buy” and an average price target of $24.00.

Genco Shipping & Trading Stock Down 0.1 %

NYSE GNK opened at $14.27 on Thursday. The stock’s 50-day moving average price is $15.77 and its 200-day moving average price is $15.89. The company has a quick ratio of 2.40, a current ratio of 3.14 and a debt-to-equity ratio of 0.16. Genco Shipping & Trading Limited has a 52 week low of $11.92 and a 52 week high of $27.15. The company has a market capitalization of $606.59 million, a P/E ratio of 5.13 and a beta of 1.06.

Genco Shipping & Trading (NYSE:GNK – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The shipping company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.08). The firm had revenue of $53.40 million for the quarter, compared to analysts’ expectations of $55.97 million. Genco Shipping & Trading had a net margin of 24.14% and a return on equity of 12.64%. The business’s quarterly revenue was down 41.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 EPS. On average, equities research analysts predict that Genco Shipping & Trading Limited will post 1.76 earnings per share for the current year.

Genco Shipping & Trading Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 23rd. Investors of record on Tuesday, May 16th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Monday, May 15th. Genco Shipping & Trading’s payout ratio is currently 21.58%.

Genco Shipping & Trading Profile

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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.