Genco Shipping & Trading Limited (NYSE:GNK) Short Interest Update

Genco Shipping & Trading Limited (NYSE:GNK) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 1,831,745 shares, a decrease of 31.9% from the November 30th total of 2,689,716 shares. Based on an average daily trading volume, of 544,624 shares, the short-interest ratio is presently 3.4 days. Currently, 4.3% of the shares of the company are sold short. Currently, 4.3% of the shares of the company are sold short. Based on an average daily trading volume, of 544,624 shares, the short-interest ratio is presently 3.4 days.

Analyst Upgrades and Downgrades

GNK has been the subject of a number of recent research reports. SEB Equity Research set a $23.00 price objective on Genco Shipping & Trading in a research report on Friday, September 26th. Wall Street Zen downgraded Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Genco Shipping & Trading in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $21.00.

Hedge Funds Weigh In On Genco Shipping & Trading

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. purchased a new stake in shares of Genco Shipping & Trading in the second quarter valued at $255,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Genco Shipping & Trading by 6,887.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,676,967 shares of the shipping company’s stock valued at $22,404,000 after acquiring an additional 1,652,966 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Genco Shipping & Trading by 5.9% during the 2nd quarter. American Century Companies Inc. now owns 1,549,197 shares of the shipping company’s stock worth $20,248,000 after acquiring an additional 86,317 shares during the period. CSM Advisors LLC acquired a new stake in shares of Genco Shipping & Trading in the second quarter worth approximately $3,876,000. Finally, Focus Partners Wealth grew its holdings in Genco Shipping & Trading by 15.3% in the first quarter. Focus Partners Wealth now owns 798,520 shares of the shipping company’s stock valued at $10,668,000 after purchasing an additional 106,222 shares during the period. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Stock Performance

Shares of GNK stock traded up $0.03 during trading hours on Monday, reaching $18.82. 352,313 shares of the company’s stock were exchanged, compared to its average volume of 433,973. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.36 and a quick ratio of 1.98. The company’s 50 day moving average is $17.84 and its two-hundred day moving average is $16.73. The company has a market cap of $813.56 million, a P/E ratio of -110.68 and a beta of 1.17. Genco Shipping & Trading has a 1 year low of $11.20 and a 1 year high of $19.60.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Wednesday, November 5th. The shipping company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Genco Shipping & Trading had a negative net margin of 2.14% and a negative return on equity of 0.62%. The company had revenue of $79.92 million for the quarter, compared to analyst estimates of $65.06 million. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue was down 19.5% on a year-over-year basis. Equities research analysts anticipate that Genco Shipping & Trading will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, November 17th. Genco Shipping & Trading’s dividend payout ratio is presently -352.94%.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.