Semanteon Capital Management LP Takes $905,000 Position in Genco Shipping & Trading Limited (NYSE:GNK)

Semanteon Capital Management LP purchased a new stake in shares of Genco Shipping & Trading Limited (NYSE:GNK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 46,405 shares of the shipping company’s stock, valued at approximately $905,000. Semanteon Capital Management LP owned about 0.11% of Genco Shipping & Trading as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Genco Shipping & Trading by 109.5% in the 2nd quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock worth $41,000 after acquiring an additional 998 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Genco Shipping & Trading during the second quarter worth $82,000. nVerses Capital LLC acquired a new stake in shares of Genco Shipping & Trading in the second quarter valued at $136,000. Point72 DIFC Ltd bought a new position in shares of Genco Shipping & Trading in the second quarter valued at about $178,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Genco Shipping & Trading by 80.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,980 shares of the shipping company’s stock worth $191,000 after buying an additional 4,003 shares in the last quarter. 58.62% of the stock is owned by institutional investors.

Genco Shipping & Trading Trading Down 0.7 %

Shares of NYSE:GNK traded down $0.11 during midday trading on Monday, hitting $15.75. The company had a trading volume of 62,840 shares, compared to its average volume of 587,613. The company has a current ratio of 3.59, a quick ratio of 2.94 and a debt-to-equity ratio of 0.10. Genco Shipping & Trading Limited has a 12 month low of $12.65 and a 12 month high of $23.43. The firm has a fifty day simple moving average of $17.53 and a 200 day simple moving average of $19.71. The stock has a market cap of $673.44 million, a price-to-earnings ratio of 264.33, a PEG ratio of 0.23 and a beta of 0.95.

Genco Shipping & Trading (NYSE:GNK) last posted its earnings results on Wednesday, August 7th. The shipping company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Genco Shipping & Trading had a return on equity of 6.11% and a net margin of 3.59%. The company had revenue of $107.00 million during the quarter, compared to analyst estimates of $74.86 million. During the same period in the previous year, the company earned $0.27 EPS. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, analysts predict that Genco Shipping & Trading Limited will post 2.1 EPS for the current year.

Genco Shipping & Trading Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 8.63%. The ex-dividend date was Monday, August 19th. Genco Shipping & Trading’s dividend payout ratio is currently 2,266.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Stifel Nicolaus cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and lowered their price objective for the company from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Alliance Global Partners boosted their price objective on shares of Genco Shipping & Trading from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Genco Shipping & Trading in a research report on Wednesday, September 4th. They issued 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.60.

Genco Shipping & Trading 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.