Nisa Investment Advisors LLC Purchases 8,423 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

Nisa Investment Advisors LLC grew its stake in Genco Shipping & Trading Limited (NYSE:GNK) by 76.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,456 shares of the shipping company’s stock after purchasing an additional 8,423 shares during the period. Nisa Investment Advisors LLC’s holdings in Genco Shipping & Trading were worth $260,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Linden Thomas Advisory Services LLC lifted its position in shares of Genco Shipping & Trading by 12.4% during the first quarter. Linden Thomas Advisory Services LLC now owns 37,456 shares of the shipping company’s stock worth $500,000 after purchasing an additional 4,126 shares in the last quarter. Townsend & Associates Inc grew its stake in shares of Genco Shipping & Trading by 17.7% during the 1st quarter. Townsend & Associates Inc now owns 1,261,959 shares of the shipping company’s stock worth $15,484,000 after acquiring an additional 190,000 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Genco Shipping & Trading in the first quarter valued at $869,000. Exchange Traded Concepts LLC bought a new position in Genco Shipping & Trading during the first quarter worth $245,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Genco Shipping & Trading by 13.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,617 shares of the shipping company’s stock worth $262,000 after purchasing an additional 2,330 shares during the period. 58.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GNK. Pareto Securities raised Genco Shipping & Trading to a “strong-buy” rating in a research note on Monday, March 31st. Dnb Nor Markets raised Genco Shipping & Trading to a “strong-buy” rating in a research report on Thursday, May 1st. Wall Street Zen downgraded Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $17.00 target price on shares of Genco Shipping & Trading in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Genco Shipping & Trading currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

Genco Shipping & Trading Price Performance

GNK opened at $15.02 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.28 and a current ratio of 1.79. Genco Shipping & Trading Limited has a 52-week low of $11.20 and a 52-week high of $21.02. The stock has a market capitalization of $645.04 million, a PE ratio of 14.44, a price-to-earnings-growth ratio of 16.61 and a beta of 1.18. The stock’s 50 day moving average price is $13.75 and its 200-day moving average price is $13.74.

Genco Shipping & Trading (NYSE:GNK) last released its earnings results on Wednesday, May 7th. The shipping company reported ($0.28) EPS 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 the consensus estimate of $43.49 million. Genco Shipping & Trading had a return on equity of 4.22% and a net margin of 12.12%. The company’s revenue was down 39.3% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. On average, equities research analysts predict that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.

Genco Shipping & Trading Dividend Announcement

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

Genco Shipping & Trading Company 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.