Genco Shipping & Trading Limited (NYSE:GNK) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its holdings in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,656 shares of the shipping company’s stock after selling 1,461 shares during the period. Kingsview Wealth Management LLC’s holdings in Genco Shipping & Trading were worth $469,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. State Street Corp increased its holdings in shares of Genco Shipping & Trading by 1.0% during the third quarter. State Street Corp now owns 1,190,467 shares of the shipping company’s stock valued at $23,214,000 after purchasing an additional 12,001 shares during the period. Townsend & Associates Inc grew its holdings in Genco Shipping & Trading by 2.7% during the third quarter. Townsend & Associates Inc now owns 1,048,858 shares of the shipping company’s stock worth $20,453,000 after acquiring an additional 27,783 shares during the period. Geode Capital Management LLC grew its holdings in Genco Shipping & Trading by 1.2% during the third quarter. Geode Capital Management LLC now owns 980,097 shares of the shipping company’s stock worth $19,116,000 after acquiring an additional 11,151 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Genco Shipping & Trading by 70.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company’s stock worth $10,345,000 after acquiring an additional 219,907 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in Genco Shipping & Trading by 6.0% during the third quarter. Loomis Sayles & Co. L P now owns 501,503 shares of the shipping company’s stock worth $9,779,000 after acquiring an additional 28,314 shares during the period. 58.62% of the stock is owned by institutional investors and hedge funds.

Genco Shipping & Trading Trading Up 2.0 %

NYSE:GNK opened at $14.64 on Friday. 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 1-year low of $13.51 and a 1-year high of $23.43. The firm has a market capitalization of $625.92 million, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 5.57 and a beta of 0.97. The stock has a fifty day simple moving average of $14.38 and a 200 day simple moving average of $16.31.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GNK shares. StockNews.com lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Stifel Nicolaus lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $17.00 in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Genco Shipping & Trading in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Genco Shipping & Trading currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.