Amundi Reduces Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Amundi reduced its position in Genco Shipping & Trading Limited (NYSE:GNK) by 23.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,200 shares of the shipping company’s stock after selling 1,900 shares during the period. Amundi’s holdings in Genco Shipping & Trading were worth $87,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Genco Shipping & Trading in the 4th quarter worth approximately $29,000. Quarry LP boosted its holdings in shares of Genco Shipping & Trading by 535.8% in the 3rd quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock valued at $83,000 after purchasing an additional 3,595 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Genco Shipping & Trading in the 3rd quarter valued at $202,000. Nisa Investment Advisors LLC boosted its holdings in shares of Genco Shipping & Trading by 830.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company’s stock valued at $154,000 after purchasing an additional 9,847 shares during the last quarter. Finally, Hohimer Wealth Management LLC acquired a new position in shares of Genco Shipping & Trading in the 3rd quarter valued at $243,000. 58.62% of the stock is owned by hedge funds and other institutional investors.

Genco Shipping & Trading Stock Performance

Genco Shipping & Trading stock opened at $13.68 on Friday. Genco Shipping & Trading Limited has a 12-month low of $13.36 and a 12-month high of $23.43. The company has a market capitalization of $584.72 million, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 5.64 and a beta of 0.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. The firm’s fifty day moving average price is $14.29 and its 200 day moving average price is $15.63.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.27). Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The firm had revenue of $67.95 million for the quarter, compared to analysts’ expectations of $67.36 million. On average, research analysts forecast that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.78%. The ex-dividend date was Tuesday, March 11th. Genco Shipping & Trading’s dividend payout ratio is presently 68.57%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. StockNews.com lowered shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Insider Activity at Genco Shipping & Trading

In related news, CAO Joseph Adamo sold 6,226 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $86,914.96. Following the completion of the sale, the chief accounting officer now owns 26,829 shares of the company’s stock, valued at $374,532.84. This represents a 18.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jesper Christensen sold 13,602 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $189,883.92. Following the sale, the insider now directly owns 57,322 shares of the company’s stock, valued at approximately $800,215.12. This represents a 19.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,812 shares of company stock valued at $402,216 in the last quarter. Insiders own 2.50% of the company’s stock.

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, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.