Genco Shipping & Trading Limited (NYSE:GNK) Holdings Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 70.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 530,523 shares of the shipping company’s stock after acquiring an additional 219,907 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Genco Shipping & Trading were worth $10,345,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. CWM LLC increased its position in Genco Shipping & Trading by 109.5% during the second quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock worth $41,000 after buying an additional 998 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Genco Shipping & Trading in the 2nd quarter valued at approximately $82,000. nVerses Capital LLC acquired a new stake in Genco Shipping & Trading in the 2nd quarter worth approximately $136,000. Point72 DIFC Ltd bought a new stake in Genco Shipping & Trading during the second quarter worth approximately $178,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 valued at $191,000 after purchasing an additional 4,003 shares during the last quarter. 58.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GNK has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genco Shipping & Trading in a research note on Wednesday, September 4th. They issued a “buy” rating and a $22.00 target price on the stock. Stifel Nicolaus lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating and set a $25.00 price objective on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Finally, StockNews.com raised Genco Shipping & Trading from a “hold” rating to a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Genco Shipping & Trading has a consensus rating of “Moderate Buy” and an average target price of $24.20.

Genco Shipping & Trading Trading Up 1.5 %

Shares of NYSE:GNK opened at $15.26 on Tuesday. The firm has a market cap of $652.30 million, a price-to-earnings ratio of 9.72, a PEG ratio of 0.24 and a beta of 0.96. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. Genco Shipping & Trading Limited has a 12 month low of $14.28 and a 12 month high of $23.43. The company’s fifty day simple moving average is $16.85 and its 200 day simple moving average is $18.55.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%. The business had revenue of $99.33 million for the quarter, compared to analyst estimates of $72.02 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. As a group, research analysts forecast that Genco Shipping & Trading Limited will post 1.74 EPS for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a dividend of $0.40 per share. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a dividend yield of 10.49%. The ex-dividend date was Monday, November 18th. Genco Shipping & Trading’s payout ratio is currently 101.91%.

Genco Shipping & Trading Profile

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.