Koss Olinger Consulting LLC Cuts Stock Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Koss Olinger Consulting LLC lowered its stake in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,686 shares of the shipping company’s stock after selling 1,457 shares during the quarter. Koss Olinger Consulting LLC owned 0.06% of Genco Shipping & Trading worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Genco Shipping & Trading during the fourth quarter worth $29,000. Quarry LP grew its stake in shares of Genco Shipping & Trading by 535.8% during the third quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock worth $83,000 after purchasing an additional 3,595 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Genco Shipping & Trading during the third quarter worth $202,000. Nisa Investment Advisors LLC grew its stake in shares of Genco Shipping & Trading by 830.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company’s stock worth $154,000 after purchasing an additional 9,847 shares in the last quarter. Finally, Hohimer Wealth Management LLC acquired a new position in shares of Genco Shipping & Trading during the third quarter worth $243,000. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Insider Buying and Selling

In related news, CAO Joseph Adamo sold 6,226 shares of the 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 transaction, the chief accounting officer now directly owns 26,829 shares of the company’s stock, valued at $374,532.84. This represents a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Peter George Allen sold 8,984 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $125,416.64. Following the transaction, the chief financial officer now directly owns 45,251 shares of the company’s stock, valued at $631,703.96. This represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,812 shares of company stock valued at $402,216 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Genco Shipping & Trading Price Performance

Shares of NYSE:GNK opened at $13.77 on Thursday. The company has a 50-day simple moving average of $14.31 and a 200-day simple moving average of $15.68. Genco Shipping & Trading Limited has a one year low of $13.36 and a one year high of $23.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. The stock has a market capitalization of $588.56 million, a price-to-earnings ratio of 7.87, a PEG ratio of 5.64 and a beta of 0.99.

Genco Shipping & Trading (NYSE:GNK) last announced its 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). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The business had revenue of $67.95 million during the quarter, compared to analysts’ expectations of $67.36 million. On average, analysts predict that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.

Genco Shipping & Trading Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.72%. Genco Shipping & Trading’s payout ratio is 68.57%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GNK shares. Jefferies Financial Group decreased their price objective on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating for the company 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Genco Shipping & Trading has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Genco Shipping & Trading 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.