Ameriprise Financial Inc. Has $219,000 Stock Position in Genco Shipping & Trading Limited (NYSE:GNK)

Ameriprise Financial Inc. reduced its position in Genco Shipping & Trading Limited (NYSE:GNK) by 16.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,705 shares of the shipping company’s stock after selling 3,060 shares during the period. Ameriprise Financial Inc.’s holdings in Genco Shipping & Trading were worth $219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Age Alpha Advisors LLC acquired a new stake in shares of Genco Shipping & Trading in the 4th quarter valued at $56,000. Mariner LLC acquired a new stake in shares of Genco Shipping & Trading during the fourth quarter worth $147,000. AXQ Capital LP acquired a new stake in shares of Genco Shipping & Trading during the fourth quarter worth $162,000. Walleye Capital LLC acquired a new stake in shares of Genco Shipping & Trading during the fourth quarter worth $209,000. Finally, Partners Wealth Management LLC acquired a new stake in shares of Genco Shipping & Trading during the fourth quarter worth $221,000. 58.62% of the stock is owned by institutional investors and hedge funds.

Genco Shipping & Trading Stock Up 1.0%

NYSE:GNK opened at $13.50 on Friday. Genco Shipping & Trading Limited has a 1 year low of $11.20 and a 1 year high of $22.18. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. The stock has a market cap of $579.73 million, a price-to-earnings ratio of 7.71, a PEG ratio of 5.64 and a beta of 1.17. The stock has a 50-day moving average price of $13.08 and a two-hundred day moving average price of $13.99.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company had revenue of $41.64 million during the quarter, compared to analyst estimates of $43.49 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The firm’s quarterly revenue was down 39.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. As a group, equities analysts expect that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Announces Dividend

The business also recently declared a dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 23rd were issued a $0.15 dividend. This represents a dividend yield of 4.28%. The ex-dividend date of this dividend was Thursday, May 22nd. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 57.69%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GNK. Dnb Nor Markets upgraded shares of Genco Shipping & Trading to a “strong-buy” rating in a research report on Thursday, May 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. Pareto Securities raised shares of Genco Shipping & Trading to a “strong-buy” rating in a research report on Monday, March 31st. Finally, Wall Street Zen lowered shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.75.

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.