Genco Shipping & Trading Limited (NYSE:GNK) Holdings Decreased by Semanteon Capital Management LP

Semanteon Capital Management LP decreased its holdings in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,646 shares of the shipping company’s stock after selling 7,759 shares during the quarter. Semanteon Capital Management LP owned 0.09% of Genco Shipping & Trading worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Rhumbline Advisers grew its holdings in shares of Genco Shipping & Trading by 2.7% during the fourth quarter. Rhumbline Advisers now owns 68,136 shares of the shipping company’s stock valued at $950,000 after buying an additional 1,800 shares in the last quarter. R Squared Ltd purchased a new position in shares of Genco Shipping & Trading during the fourth quarter valued at $29,000. Commonwealth Equity Services LLC grew its holdings in shares of Genco Shipping & Trading by 12.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 22,156 shares of the shipping company’s stock valued at $309,000 after buying an additional 2,411 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Genco Shipping & Trading by 13.4% during the third quarter. Tidal Investments LLC now owns 24,587 shares of the shipping company’s stock valued at $479,000 after buying an additional 2,898 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Genco Shipping & Trading by 26.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,190 shares of the shipping company’s stock valued at $198,000 after buying an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Price Performance

Shares of NYSE:GNK opened at $13.68 on Friday. Genco Shipping & Trading Limited has a fifty-two week low of $13.36 and a fifty-two week high of $23.43. The business has a 50-day moving average of $14.29 and a two-hundred day moving average of $15.64. The stock has a market capitalization of $584.72 million, a P/E ratio of 7.81, a P/E/G ratio of 5.64 and a beta of 0.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49.

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

Genco Shipping & Trading Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.78%. Genco Shipping & Trading’s dividend payout ratio is currently 68.57%.

Wall Street Analyst Weigh In

GNK has been the topic of a number of recent research reports. StockNews.com downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Jefferies Financial Group lowered their target price on Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Insiders Place Their Bets

In related news, insider Jesper Christensen sold 13,602 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $189,883.92. Following the completion of the transaction, the insider now owns 57,322 shares of the company’s stock, valued at approximately $800,215.12. The trade was a 19.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter George Allen sold 8,984 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $125,416.64. Following the transaction, the chief financial officer now directly owns 45,251 shares of the company’s stock, valued at $631,703.96. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,812 shares of company stock valued at $402,216 over the last quarter. Insiders own 2.50% of the company’s stock.

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.