Tudor Investment Corp Et Al Buys Shares of 10,429 Genco Shipping & Trading Limited (NYSE:GNK)

Christel Deskins

Tudor Investment Corp Et Al bought a new stake in Genco Shipping & Trading Limited (NYSE:GNK) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 10,429 shares of the shipping company’s stock, valued at approximately $65,000. Other hedge funds have also […]

Tudor Investment Corp Et Al bought a new stake in Genco Shipping & Trading Limited (NYSE:GNK) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 10,429 shares of the shipping company’s stock, valued at approximately $65,000.

Other hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. boosted its stake in shares of Genco Shipping & Trading by 16.5% in the 2nd quarter. American International Group Inc. now owns 10,463 shares of the shipping company’s stock valued at $66,000 after purchasing an additional 1,482 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in Genco Shipping & Trading during the 1st quarter worth approximately $83,000. Raymond James Financial Services Advisors Inc. boosted its position in Genco Shipping & Trading by 48.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 23,000 shares of the shipping company’s stock worth $144,000 after buying an additional 7,500 shares during the period. Alliancebernstein L.P. boosted its position in Genco Shipping & Trading by 12.6% during the 1st quarter. Alliancebernstein L.P. now owns 23,200 shares of the shipping company’s stock worth $149,000 after buying an additional 2,600 shares during the period. Finally, Rhumbline Advisers boosted its position in Genco Shipping & Trading by 10.9% during the 1st quarter. Rhumbline Advisers now owns 23,389 shares of the shipping company’s stock worth $150,000 after buying an additional 2,300 shares during the period. 79.75% of the stock is currently owned by hedge funds and other institutional investors.

GNK has been the topic of several recent research reports. DNB Markets upgraded shares of Genco Shipping & Trading from a “hold” rating to a “buy” rating and set a $8.90 target price on the stock in a research report on Wednesday, July 29th. Noble Financial reiterated a “buy” rating on shares of Genco Shipping & Trading in a research report on Friday, August 7th. Evercore ISI restated a “market perform” rating and issued a $9.00 price target on shares of Genco Shipping & Trading in a research report on Friday, May 29th. Zacks Investment Research upgraded shares of Genco Shipping & Trading from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research report on Friday, July 24th. Finally, B. Riley restated a “buy” rating and issued a $11.00 price target on shares of Genco Shipping & Trading in a research report on Wednesday, June 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $10.44.

NYSE:GNK opened at $7.29 on Friday. The company has a fifty day moving average of $7.04 and a 200-day moving average of $6.16. The firm has a market capitalization of $304.74 million, a P/E ratio of -2.01 and a beta of 0.67. The company has a quick ratio of 1.71, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. Genco Shipping & Trading Limited has a twelve month low of $4.27 and a twelve month high of $11.82.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings data on Wednesday, August 5th. The shipping company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.05. The company had revenue of $32.51 million during the quarter, compared to analyst estimates of $35.54 million. Genco Shipping & Trading had a negative net margin of 39.55% and a negative return on equity of 2.70%. On average, analysts anticipate that Genco Shipping & Trading Limited will post -0.34 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Monday, August 17th were paid a $0.02 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 1.10%. Genco Shipping & Trading’s dividend payout ratio is currently -11.94%.

About Genco Shipping & Trading

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

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Institutional Ownership by Quarter for Genco Shipping & Trading (NYSE:GNK)

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