Dynamic Technology Lab Private Ltd Has $573,000 Stock Position in Genco Shipping & Trading Limited (NYSE:GNK)

Dynamic Technology Lab Private Ltd lowered its position in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,365 shares of the shipping company’s stock after selling 3,062 shares during the quarter. Dynamic Technology Lab Private Ltd owned 0.07% of Genco Shipping & Trading worth $573,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GNK. Vanguard Group Inc. boosted its position in Genco Shipping & Trading by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,147,377 shares of the shipping company’s stock worth $23,326,000 after acquiring an additional 47,060 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Genco Shipping & Trading by 17.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,058 shares of the shipping company’s stock worth $246,000 after purchasing an additional 1,782 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Genco Shipping & Trading by 18.4% during the 1st quarter. Tidal Investments LLC now owns 19,743 shares of the shipping company’s stock worth $401,000 after purchasing an additional 3,068 shares in the last quarter. CWM LLC raised its stake in shares of Genco Shipping & Trading by 109.5% during the 2nd quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock worth $41,000 after purchasing an additional 998 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in shares of Genco Shipping & Trading by 10.0% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 23,046 shares of the shipping company’s stock worth $491,000 after purchasing an additional 2,101 shares in the last quarter. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Stock Down 1.0 %

GNK opened at $15.88 on Friday. Genco Shipping & Trading Limited has a 1-year low of $14.02 and a 1-year high of $23.43. The stock’s fifty day simple moving average is $17.27 and its 200 day simple moving average is $18.91. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. The stock has a market cap of $678.82 million, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.25 and a beta of 0.98.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.41 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 firm had revenue of $99.33 million for the quarter, compared to analyst estimates of $72.02 million. During the same period in the prior year, the firm posted ($0.09) EPS. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. As a group, research analysts expect that Genco Shipping & Trading Limited will post 1.74 earnings per share for the current year.

Genco Shipping & Trading Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 10.08%. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, November 18th. Genco Shipping & Trading’s dividend payout ratio is currently 101.91%.

Analysts Set New Price Targets

GNK has been the topic of a number of analyst reports. Stifel Nicolaus cut Genco Shipping & Trading from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $25.00 price objective on shares of Genco Shipping & Trading in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Genco Shipping & Trading in a research note on Wednesday, September 4th. They set a “buy” rating and a $22.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Genco Shipping & Trading presently has an average rating of “Moderate Buy” and an average price target of $24.20.

About Genco Shipping & Trading

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.