Gladius Capital Management LP Takes $37,000 Position in Genco Shipping & Trading Limited (NYSE:GNK)

Gladius Capital Management LP purchased a new position in shares of Genco Shipping & Trading Limited (NYSE:GNK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,252 shares of the shipping company’s stock, valued at approximately $37,000.

A number of other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in shares of Genco Shipping & Trading by 1,632.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,270 shares of the shipping company’s stock worth $32,000 after buying an additional 2,139 shares in the last quarter. CWM LLC raised its stake in Genco Shipping & Trading by 550.0% during the fourth quarter. CWM LLC now owns 3,796 shares of the shipping company’s stock worth $63,000 after acquiring an additional 3,212 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Genco Shipping & Trading in the third quarter worth about $137,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Genco Shipping & Trading by 72.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,147 shares of the shipping company’s stock valued at $152,000 after purchasing an additional 3,838 shares in the last quarter. Finally, Teza Capital Management LLC bought a new stake in shares of Genco Shipping & Trading during the 3rd quarter valued at approximately $164,000. 58.62% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Joseph Adamo sold 6,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $19.87, for a total value of $119,220.00. Following the completion of the sale, the chief accounting officer now directly owns 17,202 shares in the company, valued at approximately $341,803.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Genco Shipping & Trading news, CAO Joseph Adamo sold 6,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $19.87, for a total transaction of $119,220.00. Following the transaction, the chief accounting officer now owns 17,202 shares in the company, valued at $341,803.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Peter George Allen sold 7,036 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $139,312.80. Following the completion of the transaction, the chief financial officer now directly owns 35,518 shares in the company, valued at $703,256.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,496 shares of company stock worth $1,238,678. Company insiders own 2.08% of the company’s stock.

Genco Shipping & Trading Trading Up 0.2 %

NYSE GNK traded up $0.05 on Thursday, reaching $22.70. The company had a trading volume of 1,087,067 shares, compared to its average volume of 715,757. The firm has a market cap of $970.26 million, a price-to-earnings ratio of -73.21 and a beta of 1.11. Genco Shipping & Trading Limited has a fifty-two week low of $12.39 and a fifty-two week high of $23.43. The business has a 50 day moving average of $20.78 and a two-hundred day moving average of $17.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.46 and a quick ratio of 3.70.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $117.44 million for the quarter, compared to analyst estimates of $77.31 million. Genco Shipping & Trading had a negative net margin of 3.35% and a positive return on equity of 3.10%. The company’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. Analysts forecast that Genco Shipping & Trading Limited will post 1.93 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Wednesday, May 22nd will be paid a $0.42 dividend. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 7.40%. The ex-dividend date is Tuesday, May 21st. Genco Shipping & Trading’s payout ratio is -529.03%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com cut shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. TheStreet raised Genco Shipping & Trading from a “c” rating to a “b-” rating in a report on Thursday, February 22nd. Jefferies Financial Group lifted their price target on Genco Shipping & Trading from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus upped their price objective on Genco Shipping & Trading from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.33.

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.