Dynamic Technology Lab Private Ltd Has $573,000 Stock Position in Genco Shipping & Trading Limited (NYSE:GNK)

Dynamic Technology Lab Private Ltd reduced its stake in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 9.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,365 shares of the shipping company’s stock after selling 3,062 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Genco Shipping & Trading were worth $573,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Moors & Cabot Inc. grew its holdings in shares of Genco Shipping & Trading by 2.0% during the 2nd quarter. Moors & Cabot Inc. now owns 31,404 shares of the shipping company’s stock worth $669,000 after purchasing an additional 628 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Genco Shipping & Trading by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 54,318 shares of the shipping company’s stock worth $1,158,000 after purchasing an additional 682 shares in the last quarter. CWM LLC grew its holdings in shares of Genco Shipping & Trading by 109.5% during the 2nd quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock worth $41,000 after purchasing an additional 998 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Genco Shipping & Trading by 12.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,453 shares of the shipping company’s stock worth $244,000 after purchasing an additional 1,279 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Genco Shipping & Trading by 7.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 18,300 shares of the shipping company’s stock worth $390,000 after purchasing an additional 1,300 shares in the last quarter. 58.62% of the stock is owned by institutional investors and hedge funds.

Genco Shipping & Trading Price Performance

Genco Shipping & Trading stock opened at $15.88 on Friday. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $678.82 million, a PE ratio of 10.11, a P/E/G ratio of 0.25 and a beta of 0.98. Genco Shipping & Trading Limited has a 12 month low of $14.02 and a 12 month high of $23.43. The stock has a 50-day moving average price of $17.27 and a two-hundred day moving average price of $18.91.

Genco Shipping & Trading (NYSE:GNK) last posted its earnings results on Wednesday, November 6th. The shipping company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $99.33 million during the quarter, compared to the consensus estimate of $72.02 million. Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period last year, the company earned ($0.09) earnings per share. Analysts expect that Genco Shipping & Trading Limited will post 1.74 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 18th. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a yield of 10.08%. Genco Shipping & Trading’s dividend payout ratio (DPR) is currently 101.91%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Genco Shipping & Trading in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Genco Shipping & Trading in a research note on Wednesday, September 4th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Stifel Nicolaus lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating and reduced their price objective for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

Genco Shipping & Trading Company Profile

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