Campbell & CO Investment Adviser LLC Takes Position in Genco Shipping & Trading Limited (NYSE:GNK)

Campbell & CO Investment Adviser LLC bought a new stake in Genco Shipping & Trading Limited (NYSE:GNKFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 23,326 shares of the shipping company’s stock, valued at approximately $387,000. Campbell & CO Investment Adviser LLC owned approximately 0.05% of Genco Shipping & Trading as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GNK. PNC Financial Services Group Inc. raised its stake in shares of Genco Shipping & Trading by 1,632.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,270 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 2,139 shares in the last quarter. Gladius Capital Management LP acquired a new stake in Genco Shipping & Trading during the fourth quarter worth about $37,000. CWM LLC raised its stake in Genco Shipping & Trading by 550.0% during the fourth quarter. CWM LLC now owns 3,796 shares of the shipping company’s stock worth $63,000 after acquiring an additional 3,212 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new stake in Genco Shipping & Trading during the fourth quarter worth about $126,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 worth $152,000 after acquiring an additional 3,838 shares during the period. Institutional investors and hedge funds own 58.62% of the company’s stock.

Insiders Place Their Bets

In other Genco Shipping & Trading news, Director Arthur L. Regan sold 1,400 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $22.86, for a total value of $32,004.00. Following the completion of the sale, the director now owns 104,414 shares in the company, valued at approximately $2,386,904.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GNK shares. Stifel Nicolaus increased their price objective on shares of Genco Shipping & Trading from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group upped their target price 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, May 9th. TheStreet upgraded shares of Genco Shipping & Trading from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. StockNews.com upgraded shares of Genco Shipping & Trading from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Finally, B. Riley increased their price objective on shares of Genco Shipping & Trading from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Genco Shipping & Trading presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

View Our Latest Stock Analysis on GNK

Genco Shipping & Trading Stock Up 0.2 %

Shares of NYSE:GNK opened at $21.78 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.94 and a current ratio of 3.72. The company has a market cap of $931.10 million, a PE ratio of 362.92 and a beta of 1.00. Genco Shipping & Trading Limited has a 52 week low of $12.65 and a 52 week high of $23.43. The firm has a 50 day simple moving average of $21.68 and a 200 day simple moving average of $19.06.

Genco Shipping & Trading (NYSE:GNKGet Free Report) last released its 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 net margin of 0.81% and a return on equity of 5.15%. The company had revenue of $117.44 million during the quarter, compared to the consensus estimate of $77.31 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s revenue was up 24.4% compared to the same quarter last year. As a group, research analysts expect that Genco Shipping & Trading Limited will post 2.34 earnings per share for the current year.

Genco Shipping & Trading Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Wednesday, May 22nd were given a $0.42 dividend. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, May 21st. This represents a $1.68 dividend on an annualized basis and a yield of 7.72%. Genco Shipping & Trading’s dividend payout ratio is presently 2,800.00%.

About Genco Shipping & Trading

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Genco Shipping & Trading (NYSE:GNK)

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