New Age Alpha Advisors LLC Sells 1,428 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

New Age Alpha Advisors LLC decreased its position in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 35.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,578 shares of the shipping company’s stock after selling 1,428 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Genco Shipping & Trading were worth $34,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. bought a new position in Genco Shipping & Trading in the first quarter valued at approximately $4,921,000. Townsend & Associates Inc raised its holdings in shares of Genco Shipping & Trading by 17.7% in the first quarter. Townsend & Associates Inc now owns 1,261,959 shares of the shipping company’s stock valued at $15,484,000 after purchasing an additional 190,000 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Genco Shipping & Trading by 629.8% in the first quarter. SG Americas Securities LLC now owns 218,067 shares of the shipping company’s stock valued at $2,913,000 after purchasing an additional 188,186 shares during the last quarter. Barclays PLC increased its holdings in Genco Shipping & Trading by 173.3% during the fourth quarter. Barclays PLC now owns 282,603 shares of the shipping company’s stock worth $3,940,000 after buying an additional 179,216 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Genco Shipping & Trading by 39.7% during the fourth quarter. JPMorgan Chase & Co. now owns 398,321 shares of the shipping company’s stock worth $5,553,000 after buying an additional 113,230 shares during the last quarter. Institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Stock Down 0.6%

Shares of NYSE GNK opened at $16.16 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.20 and a debt-to-equity ratio of 0.10. The company has a market cap of $694.02 million, a price-to-earnings ratio of 47.51 and a beta of 1.19. Genco Shipping & Trading Limited has a 12 month low of $11.20 and a 12 month high of $19.51. The stock has a 50-day moving average price of $14.57 and a two-hundred day moving average price of $13.94.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Wednesday, August 6th. The shipping company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. Genco Shipping & Trading had a return on equity of 1.40% and a net margin of 4.40%. The firm had revenue of $46.90 million during the quarter, compared to the consensus estimate of $50.19 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was down 24.4% on a year-over-year basis. As a group, analysts forecast that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 18th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.60 annualized dividend and a dividend yield of 3.7%. Genco Shipping & Trading’s dividend payout ratio is currently 176.47%.

Analysts Set New Price Targets

A number of research firms have commented on GNK. Wall Street Zen cut shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Jefferies Financial Group reissued a “buy” rating and issued a $19.00 target price on shares of Genco Shipping & Trading in a research report on Thursday, August 7th. Finally, Dnb Nor Markets raised shares of Genco Shipping & Trading to a “strong-buy” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

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.