Gladius Capital Management LP Makes New $37,000 Investment in Genco Shipping & Trading Limited (NYSE:GNK)

Gladius Capital Management LP acquired a new stake in shares of Genco Shipping & Trading Limited (NYSE:GNK) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,252 shares of the shipping company’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in Genco Shipping & Trading by 1,632.8% during the third quarter. PNC Financial Services Group Inc. now owns 2,270 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 2,139 shares in the last quarter. CWM LLC boosted its holdings in shares of Genco Shipping & Trading by 550.0% during the 4th quarter. CWM LLC now owns 3,796 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 3,212 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Genco Shipping & Trading during the third quarter valued at about $137,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Genco Shipping & Trading by 72.3% during the fourth 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 in the third quarter worth about $164,000. Institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Trading Up 0.2 %

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

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Genco Shipping & Trading had a positive return on equity of 3.10% and a negative net margin of 3.35%. The company had revenue of $117.44 million during the quarter, compared to the consensus estimate of $77.31 million. During the same period last year, the company earned $0.06 earnings per share. Genco Shipping & Trading’s revenue was up 24.4% on a year-over-year basis. As a group, equities analysts forecast that Genco Shipping & Trading Limited will post 1.93 earnings per share for the current year.

Genco Shipping & Trading Increases Dividend

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

Analyst Upgrades and Downgrades

GNK has been the subject of a number of research reports. TheStreet raised Genco Shipping & Trading from a “c” rating to a “b-” rating in a research note on Thursday, February 22nd. Stifel Nicolaus increased their target price on Genco Shipping & Trading from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group boosted their price target on shares of Genco Shipping & Trading from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, StockNews.com lowered shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.33.

Insider Buying and Selling

In other Genco Shipping & Trading news, CAO Joseph Adamo sold 1,396 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $20.40, for a total value of $28,478.40. Following the completion of the sale, the chief accounting officer now owns 17,994 shares of the company’s stock, valued at $367,077.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Genco Shipping & Trading news, CAO Joseph Adamo sold 1,396 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $20.40, for a total value of $28,478.40. Following the transaction, the chief accounting officer now owns 17,994 shares of the company’s stock, valued at approximately $367,077.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John C. Wobensmith sold 35,660 shares of Genco Shipping & Trading stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $19.80, for a total value of $706,068.00. Following the sale, the chief executive officer now owns 466,684 shares of the company’s stock, valued at $9,240,343.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,496 shares of company stock valued at $1,238,678. Company insiders own 2.08% of the company’s stock.

Genco Shipping & Trading Company 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.