Genco Shipping & Trading Limited $GNK Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 74.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 55,882 shares of the shipping company’s stock after selling 162,802 shares during the quarter. SG Americas Securities LLC owned about 0.13% of Genco Shipping & Trading worth $995,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GNK. Envestnet Asset Management Inc. acquired a new stake in shares of Genco Shipping & Trading in the 2nd quarter worth approximately $255,000. American Century Companies Inc. raised its holdings in Genco Shipping & Trading by 5.9% during the second quarter. American Century Companies Inc. now owns 1,549,197 shares of the shipping company’s stock worth $20,248,000 after purchasing an additional 86,317 shares in the last quarter. CSM Advisors LLC bought a new stake in Genco Shipping & Trading during the second quarter worth approximately $3,876,000. Strs Ohio acquired a new stake in Genco Shipping & Trading in the first quarter worth approximately $540,000. Finally, Linden Thomas Advisory Services LLC boosted its stake in Genco Shipping & Trading by 60.7% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 60,196 shares of the shipping company’s stock valued at $787,000 after purchasing an additional 22,740 shares in the last quarter. 58.62% of the stock is owned by institutional investors and hedge funds.

Genco Shipping & Trading Stock Performance

Shares of NYSE GNK opened at $19.37 on Monday. The stock’s fifty day simple moving average is $18.54 and its 200 day simple moving average is $17.27. The stock has a market capitalization of $837.56 million, a price-to-earnings ratio of -113.94 and a beta of 1.19. The company has a quick ratio of 1.98, a current ratio of 2.36 and a debt-to-equity ratio of 0.18. Genco Shipping & Trading Limited has a 52-week low of $11.20 and a 52-week high of $20.07.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, November 5th. The shipping company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $79.92 million during the quarter, compared to analyst estimates of $65.06 million. Genco Shipping & Trading had a negative return on equity of 0.62% and a negative net margin of 2.14%.Genco Shipping & Trading’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. As a group, sell-side analysts forecast that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, November 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.1%. Genco Shipping & Trading’s payout ratio is currently -352.94%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GNK. Weiss Ratings reissued a “hold (c-)” rating on shares of Genco Shipping & Trading in a research note on Monday, December 29th. SEB Equity Research set a $23.00 target price on Genco Shipping & Trading in a report on Friday, September 26th. Finally, Wall Street Zen downgraded shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Two investment 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $21.00.

Genco Shipping & Trading Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.