XTX Topco Ltd Acquires Shares of 20,724 Genco Shipping & Trading Limited (NYSE:GNK)

XTX Topco Ltd bought a new position in Genco Shipping & Trading Limited (NYSE:GNK) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 20,724 shares of the shipping company’s stock, valued at approximately $442,000.

A number of other large investors have also recently modified their holdings of GNK. Moors & Cabot Inc. raised its stake in Genco Shipping & Trading by 2.0% in the second quarter. Moors & Cabot Inc. now owns 31,404 shares of the shipping company’s stock worth $669,000 after buying an additional 628 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Genco Shipping & Trading by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 54,318 shares of the shipping company’s stock worth $1,158,000 after acquiring an additional 682 shares in the last quarter. CWM LLC lifted its stake in shares of Genco Shipping & Trading by 109.5% in the 2nd quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 998 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Genco Shipping & Trading by 12.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,453 shares of the shipping company’s stock valued at $244,000 after purchasing an additional 1,279 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Genco Shipping & Trading by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,058 shares of the shipping company’s stock worth $246,000 after purchasing an additional 1,782 shares during the period. Institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Stock Performance

Shares of GNK stock opened at $18.91 on Wednesday. The company has a market capitalization of $808.55 million, a price-to-earnings ratio of 315.17, a price-to-earnings-growth ratio of 0.24 and a beta of 0.95. 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 one year low of $12.65 and a one year high of $23.43. The company’s 50-day moving average is $18.05 and its 200 day moving average is $20.14.

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

Genco Shipping & Trading Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 7.19%. The ex-dividend date of this dividend was Monday, August 19th. Genco Shipping & Trading’s dividend payout ratio is currently 2,266.67%.

Analyst Upgrades and Downgrades

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

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.