23,085 Shares in Genco Shipping & Trading Limited $GNK Purchased by XY Capital Ltd

XY Capital Ltd purchased a new position in shares of Genco Shipping & Trading Limited (NYSE:GNK) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 23,085 shares of the shipping company’s stock, valued at approximately $425,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE grew its stake in shares of Genco Shipping & Trading by 2.3% during the third quarter. Bank of America Corp DE now owns 34,970 shares of the shipping company’s stock worth $622,000 after buying an additional 779 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Genco Shipping & Trading by 58.2% during the third quarter. PNC Financial Services Group Inc. now owns 3,073 shares of the shipping company’s stock worth $55,000 after buying an additional 1,131 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Genco Shipping & Trading by 11.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,695 shares of the shipping company’s stock worth $219,000 after buying an additional 1,262 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Genco Shipping & Trading by 3.3% during the third quarter. Legal & General Group Plc now owns 43,605 shares of the shipping company’s stock worth $776,000 after buying an additional 1,381 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Genco Shipping & Trading by 6.7% during the second quarter. Corient Private Wealth LLC now owns 24,016 shares of the shipping company’s stock worth $314,000 after buying an additional 1,516 shares during the last quarter. Institutional investors own 58.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GNK shares. Zacks Research cut shares of Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings raised Genco Shipping & Trading from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Alliance Global Partners lowered Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a research report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $29.00 target price on shares of Genco Shipping & Trading in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.67.

Genco Shipping & Trading Stock Performance

Shares of GNK opened at $23.66 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.03 billion, a P/E ratio of 62.26, a price-to-earnings-growth ratio of 3.39 and a beta of 0.95. The firm’s fifty day simple moving average is $24.17 and its two-hundred day simple moving average is $21.80. Genco Shipping & Trading Limited has a 12 month low of $12.84 and a 12 month high of $27.25.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, May 6th. The shipping company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.19. The business had revenue of $114.43 million for the quarter, compared to analysts’ expectations of $65.73 million. Genco Shipping & Trading had a net margin of 4.38% and a return on equity of 2.49%. The business’s quarterly revenue was up 60.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. As a group, analysts predict that Genco Shipping & Trading Limited will post 1.81 EPS for the current year.

Genco Shipping & Trading Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 18th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.40 dividend on an annualized basis and a yield of 5.9%. Genco Shipping & Trading’s dividend payout ratio is 368.42%.

Genco Shipping & Trading Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.