Linden Thomas Advisory Services LLC Purchases 6,150 Shares of Genco Shipping & Trading Limited (NYSE:GNK)

Linden Thomas Advisory Services LLC increased its position in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 22.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,330 shares of the shipping company’s stock after buying an additional 6,150 shares during the quarter. Linden Thomas Advisory Services LLC owned 0.08% of Genco Shipping & Trading worth $465,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quarry LP grew its holdings in shares of Genco Shipping & Trading by 535.8% during the third quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock worth $83,000 after buying an additional 3,595 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Genco Shipping & Trading by 830.3% in the fourth 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 in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Genco Shipping & Trading by 26.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,190 shares of the shipping company’s stock valued at $198,000 after purchasing an additional 3,000 shares in the last quarter. Intech Investment Management LLC bought a new position in Genco Shipping & Trading in the third quarter valued at approximately $202,000. Finally, Evergreen Capital Management LLC bought a new position in Genco Shipping & Trading in the second quarter valued at approximately $221,000. 58.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on GNK shares. Jefferies Financial Group restated a “buy” rating and issued a $25.00 price target on shares of Genco Shipping & Trading in a research note on Thursday, November 7th. StockNews.com downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating and decreased their price target for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Genco Shipping & Trading currently has an average rating of “Moderate Buy” and a consensus target price of $24.20.

Genco Shipping & Trading Stock Performance

GNK opened at $14.37 on Monday. Genco Shipping & Trading Limited has a 12-month low of $13.51 and a 12-month high of $23.43. The stock has a market cap of $614.25 million, a price-to-earnings ratio of 9.15, a PEG ratio of 0.23 and a beta of 0.99. The business has a 50 day moving average of $14.90 and a 200-day moving average of $16.83. 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 (NYSE:GNK) last released its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%. The company had revenue of $99.33 million during the quarter, compared to analysts’ expectations of $72.02 million. During the same period last year, the firm posted ($0.09) earnings per share. The business’s revenue was up 19.2% on a year-over-year basis. On average, equities research analysts expect that Genco Shipping & Trading Limited will post 1.75 earnings per share for the current year.

Genco Shipping & Trading Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a dividend of $0.40 per share. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a yield of 11.14%. The ex-dividend date was Monday, November 18th. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 101.91%.

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.