New Age Alpha Advisors LLC Has $34,000 Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

New Age Alpha Advisors LLC lessened its position in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 35.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,578 shares of the shipping company’s stock after selling 1,428 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Genco Shipping & Trading were worth $34,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA bought a new position in shares of Genco Shipping & Trading during the 4th quarter worth approximately $28,000. GAMMA Investing LLC lifted its holdings in shares of Genco Shipping & Trading by 1,119.1% in the 1st quarter. GAMMA Investing LLC now owns 4,462 shares of the shipping company’s stock worth $60,000 after purchasing an additional 4,096 shares in the last quarter. Randolph Co Inc bought a new position in shares of Genco Shipping & Trading in the 1st quarter worth $134,000. Mariner LLC bought a new position in shares of Genco Shipping & Trading in the 4th quarter worth $147,000. Finally, ProShare Advisors LLC bought a new position in shares of Genco Shipping & Trading in the 4th quarter worth $166,000. 58.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GNK. Wall Street Zen cut Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Dnb Nor Markets upgraded Genco Shipping & Trading to a “strong-buy” rating in a report on Thursday, May 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $19.00 target price on shares of Genco Shipping & Trading in a report on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.33.

Genco Shipping & Trading Trading Down 0.6%

NYSE GNK opened at $16.16 on Tuesday. The firm has a market capitalization of $694.02 million, a P/E ratio of 47.51 and a beta of 1.19. The business has a fifty day simple moving average of $14.57 and a 200 day simple moving average of $13.94. Genco Shipping & Trading Limited has a 12 month low of $11.20 and a 12 month high of $19.51. The company has a current ratio of 1.63, a quick ratio of 1.20 and a debt-to-equity ratio of 0.10.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, August 6th. The shipping company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $46.90 million during the quarter, compared to analyst estimates of $50.19 million. Genco Shipping & Trading had a return on equity of 1.40% and a net margin of 4.40%. Genco Shipping & Trading’s quarterly revenue was down 24.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS. On average, analysts predict that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 18th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, August 18th. Genco Shipping & Trading’s dividend payout ratio is presently 176.47%.

Genco Shipping & Trading Profile

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, bauxite, steel products, and other drybulk cargoes. It operates through the Major Bulk and Minor Bulk segments. The Major Bulk segment focuses on Capesize vessels. The Minor Bulk segment consists of Ultramax and Supramax vessels.