Los Angeles Capital Management LLC Trims Stock Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Los Angeles Capital Management LLC decreased its position in Genco Shipping & Trading Limited (NYSE:GNK) by 18.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 39,299 shares of the shipping company’s stock after selling 8,800 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Genco Shipping & Trading were worth $548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GNK. R Squared Ltd purchased a new position in shares of Genco Shipping & Trading during the fourth quarter valued at approximately $29,000. Quarry LP raised its stake in Genco Shipping & Trading by 535.8% during the third quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock valued at $83,000 after buying an additional 3,595 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Genco Shipping & Trading by 830.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company’s stock worth $154,000 after acquiring an additional 9,847 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Genco Shipping & Trading by 26.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,190 shares of the shipping company’s stock worth $198,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Genco Shipping & Trading during the third quarter valued at $202,000. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Insider Activity

In other news, CAO Joseph Adamo sold 6,226 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $86,914.96. Following the completion of the sale, the chief accounting officer now owns 26,829 shares of the company’s stock, valued at $374,532.84. This represents a 18.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter George Allen sold 8,984 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $125,416.64. Following the completion of the transaction, the chief financial officer now directly owns 45,251 shares in the company, valued at approximately $631,703.96. The trade was a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,812 shares of company stock valued at $402,216 in the last ninety days. 2.50% of the stock is currently owned by company insiders.

Genco Shipping & Trading Trading Down 2.3 %

Genco Shipping & Trading stock opened at $13.95 on Tuesday. Genco Shipping & Trading Limited has a one year low of $13.51 and a one year high of $23.43. The business’s fifty day moving average is $14.33 and its 200 day moving average is $15.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. The stock has a market capitalization of $596.47 million, a PE ratio of 7.97, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97.

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

Genco Shipping & Trading Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 8.60%. Genco Shipping & Trading’s dividend payout ratio is presently 68.57%.

Wall Street Analysts Forecast Growth

GNK has been the topic of a number of analyst reports. Jefferies Financial Group dropped their price target on shares of 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. StockNews.com downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and four 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 $23.00.

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.