2 weeks Ago By ABMN Staff
KLP Kapitalforvaltning AS purchased a new position in shares of Genco Shipping & Trading Limited ( NYSE:GNK – Free Report ) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 34,300 shares of the shipping company’s stock, valued at approximately $478,000. A number of other institutional investors have also added to or reduced their stakes in the company.
Charles Schwab Investment Management Inc. boosted its stake in shares of Genco Shipping & Trading by 70.8% in the 3rd quarter.
Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company’s stock worth $10,345,000 after buying an additional 219,907 shares during the last quarter. JPMorgan Chase & Co.
boosted its position in Genco Shipping & Trading by 155.0% in the third quarter. JPMorgan Chase & Co.
now owns 285,091 shares of the shipping company’s stock worth $5,559,000 after purchasing an additional 173,270 shares during the last quarter. Barclays PLC grew its stake in Genco Shipping & Trading by 499.7% in the 3rd quarter.
Barclays PLC now owns 103,387 shares of the shipping company’s stock valued at $2,016,000 after purchasing an additional 86,147 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Genco Shipping & Trading by 51.
9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,355 shares of the shipping company’s stock valued at $911,000 after purchasing an additional 22,316 shares during the last quarter.
Finally, Townsend & Associates Inc raised its stake in shares of Genco Shipping & Trading by 2.2% during the 4th quarter. Townsend & Associates Inc now owns 1,071,959 shares of the shipping company’s stock worth $15,318,000 after purchasing an additional 23,101 shares during the period.
58.62% of the stock is owned by institutional investors. Insider Buying and Selling at Genco Shipping & Trading In other news, CAO Joseph Adamo sold 6,226 shares of the business’s stock in a transaction dated Monday, February 24th.
The stock was sold at an average price of $13.96, for a total transaction of $86,914.96.
Following the completion of the transaction, the chief accounting officer now owns 26,829 shares of the company’s stock, valued at approximately $374,532.84. The trade was a 18.
84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website . Also, CFO Peter George Allen sold 8,984 shares of the company’s stock in a transaction that occurred on Monday, February 24th.
The stock was sold at an average price of $13.96, for a total transaction of $125,416.64.
Following the completion of the transaction, the chief financial officer now owns 45,251 shares in the company, valued at approximately $631,703.96. This trade represents a 16.
56 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders sold a total of 28,812 shares of company stock valued at $402,216 in the last three months.
Company insiders own 2.08% of the company’s stock. Wall Street Analyst Weigh In Read Our Latest Research Report on GNK Genco Shipping & Trading Stock Performance NYSE:GNK opened at $12.
70 on Friday. The business’s fifty day moving average is $14.10 and its 200 day moving average is $15.
42. The firm has a market cap of $542.81 million, a price-to-earnings ratio of 7.
25, a PEG ratio of 5.64 and a beta of 0.99.
The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.
09. Genco Shipping & Trading Limited has a 52-week low of $12.62 and a 52-week high of $23.
43. Genco Shipping & Trading ( NYSE:GNK – Get Free Report ) last announced its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.
29 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $67.95 million for the quarter, compared to the consensus estimate of $67.36 million.
Research analysts predict that Genco Shipping & Trading Limited will post 0.48 EPS for the current year. Genco Shipping & Trading Cuts Dividend The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th.
Shareholders of record on Tuesday, March 11th were paid a $0.30 dividend. This represents a $1.
20 annualized dividend and a yield of 9.45%. The ex-dividend date 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. Featured Stories Want to see what other hedge funds are holding GNK? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Genco Shipping & Trading Limited ( NYSE:GNK – Free Report ). Receive News & Ratings for Genco Shipping & Trading Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genco Shipping & Trading and related companies with MarketBeat.com's FREE daily email newsletter .
.
_0.jpg?itok=yAIF6nFK)
