Semanteon Capital Management LP Has $539,000 Stock Position in Genco Shipping & Trading Limited (NYSE:GNK)

Semanteon Capital Management LP decreased its position in Genco Shipping & Trading Limited (NYSE:GNK) by 16.7% in the 4th quarter, HoldingsChannel reports. The fund owned 38,646 shares of the shipping company’s stock after selling 7,759 shares during the period. Semanteon Capital Management LP’s holdings in Genco Shipping & Trading were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new position in Genco Shipping & Trading in the 4th quarter valued at approximately $3,692,000. Intech Investment Management LLC grew its stake in shares of Genco Shipping & Trading by 107.9% in the 4th quarter. Intech Investment Management LLC now owns 21,514 shares of the shipping company’s stock valued at $300,000 after purchasing an additional 11,166 shares during the period. Corient Private Wealth LLC bought a new stake in shares of Genco Shipping & Trading in the 4th quarter valued at approximately $251,000. Royce & Associates LP grew its stake in shares of Genco Shipping & Trading by 23.9% in the 4th quarter. Royce & Associates LP now owns 597,860 shares of the shipping company’s stock valued at $8,334,000 after purchasing an additional 115,173 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in shares of Genco Shipping & Trading by 12.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 22,156 shares of the shipping company’s stock valued at $309,000 after purchasing an additional 2,411 shares during the period. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Stock Down 2.3 %

NYSE GNK opened at $13.68 on Friday. The firm has a market cap of $584.72 million, a PE ratio of 7.81, a price-to-earnings-growth ratio of 5.64 and a beta of 0.99. Genco Shipping & Trading Limited has a one year low of $13.36 and a one year high of $23.43. The stock’s 50 day simple moving average is $14.29 and its 200 day simple moving average is $15.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly 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). The business had revenue of $67.95 million for the quarter, compared to the consensus estimate of $67.36 million. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. As a group, sell-side analysts forecast that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 8.78%. Genco Shipping & Trading’s payout ratio is 68.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price objective on Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. StockNews.com lowered 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Genco Shipping & Trading has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Insider Buying and Selling at Genco Shipping & Trading

In other Genco Shipping & Trading news, CAO Joseph Adamo sold 6,226 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $86,914.96. Following the transaction, the chief accounting officer now directly owns 26,829 shares in the company, valued at approximately $374,532.84. This trade represents a 18.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter George Allen sold 8,984 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $125,416.64. Following the completion of the transaction, the chief financial officer now owns 45,251 shares in the company, valued at $631,703.96. The trade was a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,812 shares of company stock worth $402,216. Insiders own 2.50% of the company’s stock.

About Genco Shipping & Trading

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.