Mark Sheptoff Financial Planning LLC Takes $126,000 Position in Genco Shipping & Trading Limited (NYSE:GNK)

Mark Sheptoff Financial Planning LLC acquired a new position in shares of Genco Shipping & Trading Limited (NYSE:GNK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,600 shares of the shipping company’s stock, valued at approximately $126,000.

Several other large investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its holdings 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 purchased a new position in Genco Shipping & Trading in the 4th quarter valued at approximately $37,000. CWM LLC raised its holdings 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 purchasing an additional 3,212 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 purchasing an additional 3,838 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new stake in Genco Shipping & Trading in the third quarter valued at $164,000. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Insider Activity

In other Genco Shipping & Trading news, insider Jesper Christensen sold 12,404 shares of Genco Shipping & Trading stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $245,599.20. Following the transaction, the insider now directly owns 42,587 shares of the company’s stock, valued at $843,222.60. The sale was disclosed in a filing with the SEC, which is available at this link. In other Genco Shipping & Trading news, CAO Joseph Adamo sold 1,396 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $20.40, for a total value of $28,478.40. Following the completion of the sale, the chief accounting officer now owns 17,994 shares of the company’s stock, valued at $367,077.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jesper Christensen sold 12,404 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $19.80, for a total transaction of $245,599.20. Following the transaction, the insider now directly owns 42,587 shares in the company, valued at $843,222.60. The disclosure for this sale can be found here. Insiders have sold 63,896 shares of company stock valued at $1,270,682 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

GNK has been the topic of several recent research reports. StockNews.com upgraded shares of Genco Shipping & Trading from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. TheStreet raised Genco Shipping & Trading from a “c” rating to a “b-” rating in a research note on Thursday, February 22nd. Stifel Nicolaus raised their price target on Genco Shipping & Trading from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group lifted their price objective on Genco Shipping & Trading from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, B. Riley upped their target price 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 issued a buy rating to the company. According to MarketBeat, Genco Shipping & Trading currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Genco Shipping & Trading Trading Down 2.5 %

GNK traded down $0.56 during midday trading on Thursday, hitting $21.57. The company’s stock had a trading volume of 305,857 shares, compared to its average volume of 714,640. The firm has a market cap of $922.29 million, a P/E ratio of 358.67 and a beta of 1.11. Genco Shipping & Trading Limited has a 52-week low of $12.39 and a 52-week high of $23.43. The company has a current ratio of 3.72, a quick ratio of 2.94 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $21.20 and a two-hundred day moving average price of $18.28.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.49 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $117.44 million during the quarter, compared to analyst estimates of $77.31 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. Genco Shipping & Trading’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, research analysts anticipate that Genco Shipping & Trading Limited will post 2.34 earnings per share for the current year.

Genco Shipping & Trading Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Wednesday, May 22nd will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 7.79%. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.41. The ex-dividend date is Tuesday, May 21st. Genco Shipping & Trading’s dividend payout ratio (DPR) is 2,800.00%.

Genco Shipping & Trading Company 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.