Genco Shipping & Trading Limited (NYSE:GNK) Stake Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in Genco Shipping & Trading Limited (NYSE:GNKFree Report) by 22.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 323,687 shares of the shipping company’s stock after acquiring an additional 58,917 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.76% of Genco Shipping & Trading worth $5,370,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in shares of Genco Shipping & Trading by 1,632.8% in the third quarter. PNC Financial Services Group Inc. now owns 2,270 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 2,139 shares during the period. CWM LLC raised its stake in Genco Shipping & Trading by 550.0% during the 4th quarter. CWM LLC now owns 3,796 shares of the shipping company’s stock valued at $63,000 after acquiring an additional 3,212 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Genco Shipping & Trading by 72.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,147 shares of the shipping company’s stock worth $152,000 after acquiring an additional 3,838 shares during the period. Teza Capital Management LLC bought a new position in Genco Shipping & Trading in the 3rd quarter valued at about $164,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Genco Shipping & Trading by 16.9% in the fourth quarter. Victory Capital Management Inc. now owns 13,251 shares of the shipping company’s stock valued at $220,000 after acquiring an additional 1,915 shares in the last quarter. 58.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GNK has been the subject of several research reports. Jefferies Financial Group raised their target price on Genco Shipping & Trading from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. TheStreet raised shares of Genco Shipping & Trading from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. B. Riley increased their target price on shares of Genco Shipping & Trading from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Stifel Nicolaus boosted their price target on shares of Genco Shipping & Trading from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, StockNews.com upgraded Genco Shipping & Trading from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Genco Shipping & Trading has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Check Out Our Latest Stock Report on Genco Shipping & Trading

Genco Shipping & Trading Price Performance

Shares of NYSE:GNK opened at $22.42 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.72 and a quick ratio of 2.94. The stock has a market capitalization of $958.47 million, a P/E ratio of 373.58 and a beta of 1.00. The business has a 50-day moving average of $21.50 and a two-hundred day moving average of $18.80. Genco Shipping & Trading Limited has a fifty-two week low of $12.65 and a fifty-two week high of $23.43.

Genco Shipping & Trading (NYSE:GNKGet Free Report) last posted its earnings results on Wednesday, May 8th. The shipping company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Genco Shipping & Trading had a return on equity of 5.15% and a net margin of 0.81%. The firm had revenue of $117.44 million during the quarter, compared to analyst estimates of $77.31 million. During the same period in the previous year, the company earned $0.06 EPS. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities research analysts predict that Genco Shipping & Trading Limited will post 2.34 EPS for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Wednesday, May 22nd were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 7.49%. The ex-dividend date of this dividend was Tuesday, May 21st. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.41. Genco Shipping & Trading’s dividend payout ratio (DPR) is 2,800.00%.

Insiders Place Their Bets

In other news, Director Arthur L. Regan sold 1,400 shares of Genco Shipping & Trading stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $22.86, for a total value of $32,004.00. Following the transaction, the director now directly owns 104,414 shares in the company, valued at $2,386,904.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.08% of the company’s stock.

Genco Shipping & Trading Profile

(Free Report)

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

Recommended Stories

Want to see what other hedge funds are holding GNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genco Shipping & Trading Limited (NYSE:GNKFree Report).

Institutional Ownership by Quarter for Genco Shipping & Trading (NYSE:GNK)

Receive News & Ratings for Genco Shipping & Trading Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genco Shipping & Trading and related companies with MarketBeat.com's FREE daily email newsletter.