Genco Shipping & Trading Limited (NYSE:GNK) Shares Acquired by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. increased its stake in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 209.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,021 shares of the shipping company’s stock after purchasing an additional 106,265 shares during the period. D. E. Shaw & Co. Inc. owned 0.37% of Genco Shipping & Trading worth $2,189,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Banque Transatlantique SA acquired a new position in Genco Shipping & Trading in the 4th quarter valued at $28,000. R Squared Ltd purchased a new position in Genco Shipping & Trading in the 4th quarter valued at about $29,000. New Age Alpha Advisors LLC purchased a new position in Genco Shipping & Trading in the 4th quarter valued at about $56,000. Mariner LLC purchased a new position in Genco Shipping & Trading in the 4th quarter valued at about $147,000. Finally, Nisa Investment Advisors LLC boosted its position in Genco Shipping & Trading by 830.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company’s stock valued at $154,000 after buying an additional 9,847 shares during the last quarter. 58.62% of the stock is currently owned by institutional investors and hedge funds.

Genco Shipping & Trading Trading Down 0.6%

Shares of NYSE:GNK opened at $13.95 on Wednesday. The company has a 50 day moving average price of $13.18 and a 200 day moving average price of $14.33. Genco Shipping & Trading Limited has a 1-year low of $11.20 and a 1-year high of $23.11. 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 stock has a market capitalization of $599.28 million, a price-to-earnings ratio of 7.97, a PEG ratio of 5.64 and a beta of 1.17.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings data on Wednesday, May 7th. The shipping company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The firm had revenue of $41.64 million during the quarter, compared to analyst estimates of $43.49 million. During the same period in the prior year, the business posted $0.49 EPS. The company’s revenue for the quarter was down 39.3% on a year-over-year basis. On average, research analysts anticipate that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 23rd will be given a $0.15 dividend. The ex-dividend date is Thursday, May 22nd. This represents a yield of 4.28%. Genco Shipping & Trading’s payout ratio is 57.69%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued a $17.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. StockNews.com lowered shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Wednesday. Dnb Nor Markets upgraded shares of Genco Shipping & Trading to a “strong-buy” rating in a research note on Thursday, May 1st. Finally, Pareto Securities upgraded shares of Genco Shipping & Trading to a “strong-buy” rating in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Genco Shipping & Trading currently has an average rating of “Moderate Buy” and an average price target of $20.75.

Insiders Place Their Bets

In related news, CAO Joseph Adamo sold 6,226 shares of Genco Shipping & Trading stock in a transaction on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $86,914.96. Following the transaction, the chief accounting officer now owns 26,829 shares in the company, valued at $374,532.84. This trade represents a 18.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Peter George Allen sold 8,984 shares of Genco Shipping & Trading stock in a transaction on Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $125,416.64. Following the completion of the transaction, the chief financial officer now owns 45,251 shares in the company, valued at $631,703.96. This trade represents a 16.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,812 shares of company stock worth $402,216 in the last quarter. 2.37% of the stock is currently owned by corporate insiders.

Genco Shipping & Trading Profile

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, bauxite, steel products, and other drybulk cargoes. It operates through the Major Bulk and Minor Bulk segments. The Major Bulk segment focuses on Capesize vessels. The Minor Bulk segment consists of Ultramax and Supramax vessels.