Accurate Wealth Management LLC Has $960,000 Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Accurate Wealth Management LLC raised its holdings in Genco Shipping & Trading Limited (NYSE:GNK) by 92.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,253 shares of the shipping company’s stock after purchasing an additional 31,890 shares during the quarter. Accurate Wealth Management LLC’s holdings in Genco Shipping & Trading were worth $960,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GNK. Point72 Hong Kong Ltd bought a new position in shares of Genco Shipping & Trading in the second quarter valued at about $82,000. Quarry LP raised its stake in shares of Genco Shipping & Trading by 535.8% in the third quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock worth $83,000 after acquiring an additional 3,595 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Genco Shipping & Trading during the second quarter worth approximately $178,000. Intech Investment Management LLC bought a new stake in shares of Genco Shipping & Trading during the third quarter valued at approximately $202,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Genco Shipping & Trading in the second quarter valued at approximately $221,000. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Price Performance

Genco Shipping & Trading stock opened at $14.64 on Thursday. The firm has a market capitalization of $625.98 million, a P/E ratio of 9.32, a PEG ratio of 0.23 and a beta of 0.99. The business has a 50-day moving average of $15.37 and a 200-day moving average of $17.21. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. Genco Shipping & Trading Limited has a 1 year low of $13.51 and a 1 year high of $23.43.

Genco Shipping & Trading (NYSE:GNK) last posted its earnings results on Wednesday, November 6th. The shipping company reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%. The company had revenue of $99.33 million for the quarter, compared to analyst estimates of $72.02 million. During the same period last year, the business posted ($0.09) earnings per share. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, equities analysts anticipate that Genco Shipping & Trading Limited will post 1.74 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.93%. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.34. Genco Shipping & Trading’s dividend payout ratio (DPR) is currently 101.91%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GNK. Jefferies Financial Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. StockNews.com lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and cut their target price for the company from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.20.

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.