1 week Ago By ABMN Staff
Corebridge Financial Inc. lessened its stake in shares of Genco Shipping & Trading Limited ( NYSE:GNK – Free Report ) by 7.0% in the 4th quarter, Holdings Channel reports.
The firm owned 20,972 shares of the shipping company’s stock after selling 1,583 shares during the period. Corebridge Financial Inc.’s holdings in Genco Shipping & Trading were worth $292,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC boosted its stake in Genco Shipping & Trading by 3.1% during the fourth quarter.
LPL Financial LLC now owns 24,566 shares of the shipping company’s stock valued at $342,000 after buying an additional 736 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Genco Shipping & Trading during the 4th quarter valued at approximately $478,000. AXQ Capital LP purchased a new position in shares of Genco Shipping & Trading in the fourth quarter valued at $162,000.
American Century Companies Inc. increased its position in Genco Shipping & Trading by 8.9% in the fourth quarter.
American Century Companies Inc. now owns 1,361,597 shares of the shipping company’s stock worth $18,981,000 after purchasing an additional 111,564 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Genco Shipping & Trading during the fourth quarter valued at $296,000.
Hedge funds and other institutional investors own 58.62% of the company’s stock. Insider Activity at Genco Shipping & Trading In other Genco Shipping & Trading news, insider Jesper Christensen sold 13,602 shares of Genco Shipping & Trading stock in a transaction on Monday, February 24th.
The stock was sold at an average price of $13.96, for a total transaction of $189,883.92.
Following the completion of the sale, the insider now directly owns 57,322 shares of the company’s stock, valued at $800,215.12. The trade was a 19.
18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink . Also, 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 $374,532.84. The trade was a 18.
84 % decrease in their position. The disclosure for this sale can be found here . Insiders sold 28,812 shares of company stock worth $402,216 in the last 90 days.
2.50% of the stock is owned by corporate insiders. Analysts Set New Price Targets Read Our Latest Stock Report on Genco Shipping & Trading Genco Shipping & Trading Stock Down 4.
4 % Shares of NYSE GNK opened at $11.96 on Friday. The company has a market cap of $511.
17 million, a P/E ratio of 6.83, a PEG ratio of 5.64 and a beta of 0.
96. The firm has a 50-day simple moving average of $13.76 and a two-hundred day simple moving average of $15.
13. Genco Shipping & Trading Limited has a 1 year low of $11.20 and a 1 year high of $23.
43. 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 – Get Free Report ) last posted its quarterly earnings data on Wednesday, February 19th.
The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.
27). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.
82%. The business had revenue of $67.95 million for the quarter, compared to analysts’ expectations of $67.
36 million. Research analysts anticipate that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.
Genco Shipping & Trading Cuts Dividend The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a $0.30 dividend.
This represents a $1.20 annualized dividend and a yield of 10.04%.
The ex-dividend date of this dividend was Tuesday, March 11th. Genco Shipping & Trading’s dividend payout ratio is presently 68.57%.
About Genco Shipping & Trading ( Free Report ) 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.
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