Quantinno Capital Management LP Boosts Stock Position in Genco Shipping & Trading Limited $GNK

Quantinno Capital Management LP raised its holdings in Genco Shipping & Trading Limited (NYSE:GNK) by 104.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,860 shares of the shipping company’s stock after acquiring an additional 29,098 shares during the quarter. Quantinno Capital Management LP owned approximately 0.13% of Genco Shipping & Trading worth $1,282,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Genco Shipping & Trading by 230.1% during the first quarter. Blue Trust Inc. now owns 1,347 shares of the shipping company’s stock worth $30,000 after purchasing an additional 939 shares during the last quarter. Strengthening Families & Communities LLC bought a new position in shares of Genco Shipping & Trading in the fourth quarter worth about $31,000. Advisory Services Network LLC purchased a new position in Genco Shipping & Trading in the 3rd quarter worth about $30,000. Kemnay Advisory Services Inc. purchased a new position in Genco Shipping & Trading in the 4th quarter worth about $32,000. Finally, Sunbelt Securities Inc. bought a new stake in Genco Shipping & Trading during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Analyst Upgrades and Downgrades

GNK has been the subject of several research reports. Alliance Global Partners reissued a “neutral” rating on shares of Genco Shipping & Trading in a research report on Wednesday, June 17th. Zacks Research raised shares of Genco Shipping & Trading from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genco Shipping & Trading in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $29.00 price target on shares of Genco Shipping & Trading in a report on Friday, May 8th. Finally, B. Riley Financial reissued a “buy” rating on shares of Genco Shipping & Trading in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Genco Shipping & Trading Stock Performance

GNK stock opened at $26.32 on Friday. Genco Shipping & Trading Limited has a 1-year low of $15.55 and a 1-year high of $27.25. The business has a 50-day moving average price of $24.81 and a 200 day moving average price of $23.72. The company has a market capitalization of $1.15 billion, a P/E ratio of 28.92, a PEG ratio of 3.00 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.97 and a quick ratio of 2.41.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Wednesday, August 5th. The shipping company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. The company had revenue of $136.41 million for the quarter, compared to analysts’ expectations of $90.59 million. Genco Shipping & Trading had a net margin of 9.15% and a return on equity of 6.46%. The firm’s quarterly revenue was up 68.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.16) EPS. As a group, equities research analysts forecast that Genco Shipping & Trading Limited will post 2.25 EPS for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.80 per share. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.35. This represents a $3.20 dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date is Monday, August 17th. Genco Shipping & Trading’s payout ratio is 153.85%.

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.