Cubist Systematic Strategies LLC Has $3.31 Million Stock Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Cubist Systematic Strategies LLC grew its position in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 105.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,250 shares of the shipping company’s stock after buying an additional 79,801 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.36% of Genco Shipping & Trading worth $3,308,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GNK. CWM LLC raised its stake in Genco Shipping & Trading by 109.5% in the 2nd quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock worth $41,000 after purchasing an additional 998 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Genco Shipping & Trading in the second quarter valued at approximately $136,000. Banque Cantonale Vaudoise boosted its stake in shares of Genco Shipping & Trading by 236.6% in the first quarter. Banque Cantonale Vaudoise now owns 8,536 shares of the shipping company’s stock valued at $174,000 after buying an additional 6,000 shares during the period. Point72 DIFC Ltd acquired a new stake in Genco Shipping & Trading during the second quarter worth approximately $178,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Genco Shipping & Trading by 80.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,980 shares of the shipping company’s stock worth $191,000 after buying an additional 4,003 shares in the last quarter. Institutional investors own 58.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Genco Shipping & Trading in a research report on Wednesday, September 4th. They set a “buy” rating and a $22.00 target price for the company. Alliance Global Partners upped their price objective on shares of Genco Shipping & Trading from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.80.

Genco Shipping & Trading Trading Down 0.5 %

Shares of GNK opened at $19.16 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.94 and a current ratio of 3.59. Genco Shipping & Trading Limited has a 52-week low of $12.65 and a 52-week high of $23.43. The firm has a market cap of $819.24 million, a price-to-earnings ratio of 319.33, a PEG ratio of 0.26 and a beta of 0.95. The business’s fifty day moving average is $17.96 and its 200-day moving average is $20.11.

Genco Shipping & Trading (NYSE:GNK) last released its earnings results on Wednesday, August 7th. The shipping company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $107.00 million for the quarter, compared to analysts’ expectations of $74.86 million. Genco Shipping & Trading had a return on equity of 6.11% and a net margin of 3.59%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities analysts anticipate that Genco Shipping & Trading Limited will post 2.1 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 7.10%. The ex-dividend date was Monday, August 19th. Genco Shipping & Trading’s payout ratio is 2,266.67%.

About Genco Shipping & Trading

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.