Voya Investment Management LLC Has $153,000 Stock Position in Genco Shipping & Trading Limited $GNK

Voya Investment Management LLC reduced its stake in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 9.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,433 shares of the shipping company’s stock after selling 1,185 shares during the quarter. Voya Investment Management LLC’s holdings in Genco Shipping & Trading were worth $153,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Genco Shipping & Trading in the first quarter valued at about $39,000. GAMMA Investing LLC boosted its stake in Genco Shipping & Trading by 1,119.1% in the first quarter. GAMMA Investing LLC now owns 4,462 shares of the shipping company’s stock valued at $60,000 after buying an additional 4,096 shares in the last quarter. Amundi boosted its stake in Genco Shipping & Trading by 29.0% in the first quarter. Amundi now owns 8,000 shares of the shipping company’s stock valued at $101,000 after buying an additional 1,800 shares in the last quarter. State of Wyoming boosted its stake in Genco Shipping & Trading by 34.7% in the first quarter. State of Wyoming now owns 8,088 shares of the shipping company’s stock valued at $108,000 after buying an additional 2,083 shares in the last quarter. Finally, Randolph Co Inc acquired a new stake in Genco Shipping & Trading in the first quarter valued at about $134,000. 58.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GNK has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Genco Shipping & Trading in a research note on Thursday, August 7th. SEB Equity Research set a $23.00 price objective on Genco Shipping & Trading in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $19.67.

Insider Transactions at Genco Shipping & Trading

In other Genco Shipping & Trading news, insider Jesper Christensen sold 34,202 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $18.06, for a total value of $617,688.12. Following the transaction, the insider directly owned 69,363 shares of the company’s stock, valued at approximately $1,252,695.78. The trade was a 33.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.08% of the company’s stock.

Genco Shipping & Trading Price Performance

Genco Shipping & Trading stock opened at $17.82 on Wednesday. The stock’s 50 day moving average is $17.15 and its 200 day moving average is $14.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.63 and a quick ratio of 1.20. The firm has a market cap of $765.55 million, a P/E ratio of 52.41 and a beta of 1.22. Genco Shipping & Trading Limited has a one year low of $11.20 and a one year high of $19.60.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings data on Wednesday, August 6th. The shipping company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $46.90 million for the quarter, compared to analyst estimates of $50.19 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The firm’s quarterly revenue was down 24.4% on a year-over-year basis. As a group, research analysts expect that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.

Genco Shipping & Trading Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.60 annualized dividend and a yield of 3.4%. Genco Shipping & Trading’s payout ratio is 176.47%.

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.