15,858 Shares in Genco Shipping & Trading Limited (NYSE:GNK) Acquired by Partners Wealth Management LLC

Partners Wealth Management LLC acquired a new stake in Genco Shipping & Trading Limited (NYSE:GNK) during the 4th quarter, HoldingsChannel reports. The firm acquired 15,858 shares of the shipping company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GNK. Semanteon Capital Management LP bought a new stake in Genco Shipping & Trading in the 3rd quarter valued at $905,000. Townsend & Associates Inc lifted its holdings in Genco Shipping & Trading by 2.7% during the 3rd quarter. Townsend & Associates Inc now owns 1,048,858 shares of the shipping company’s stock valued at $20,453,000 after purchasing an additional 27,783 shares during the last quarter. MQS Management LLC acquired a new position in shares of Genco Shipping & Trading in the 3rd quarter worth approximately $490,000. Royce & Associates LP boosted its stake in Genco Shipping & Trading by 43.1% in the third quarter. Royce & Associates LP now owns 482,687 shares of the shipping company’s stock worth $9,412,000 after purchasing an additional 145,471 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Genco Shipping & Trading by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 255,775 shares of the shipping company’s stock worth $4,988,000 after acquiring an additional 12,998 shares during the last quarter. 58.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group reduced their target price on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com cut Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Genco Shipping & Trading Stock Down 3.8 %

NYSE GNK opened at $14.15 on Monday. The stock has a market capitalization of $605.15 million, a PE ratio of 8.09, a PEG ratio of 5.64 and a beta of 0.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. The business has a fifty day moving average price of $14.30 and a two-hundred day moving average price of $16.10. Genco Shipping & Trading Limited has a fifty-two week low of $13.51 and a fifty-two week high of $23.43.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.27). The firm had revenue of $67.95 million during the quarter, compared to analyst estimates of $67.36 million. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. Equities analysts expect that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 8.48%. Genco Shipping & Trading’s payout ratio is 68.57%.

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.