Segall Bryant & Hamill LLC Acquires New Holdings in Genco Shipping & Trading Limited (NYSE:GNK)

Segall Bryant & Hamill LLC bought a new stake in Genco Shipping & Trading Limited (NYSE:GNK) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 39,612 shares of the shipping company’s stock, valued at approximately $552,000. Segall Bryant & Hamill LLC owned about 0.09% of Genco Shipping & Trading at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. LPL Financial LLC grew its stake in Genco Shipping & Trading by 3.1% during the 4th quarter. LPL Financial LLC now owns 24,566 shares of the shipping company’s stock worth $342,000 after buying an additional 736 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Genco Shipping & Trading during the fourth quarter valued at about $478,000. AXQ Capital LP purchased a new position in shares of Genco Shipping & Trading in the 4th quarter valued at approximately $162,000. American Century Companies Inc. boosted its stake in Genco Shipping & Trading by 8.9% in the 4th 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 in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Genco Shipping & Trading during the 4th quarter worth approximately $296,000. 58.62% of the stock is currently owned by institutional investors.

Genco Shipping & Trading Stock Performance

Shares of NYSE GNK opened at $13.39 on Friday. The stock has a market cap of $572.32 million, a price-to-earnings ratio of 7.65, a PEG ratio of 5.64 and a beta of 0.99. Genco Shipping & Trading Limited has a 12 month low of $13.08 and a 12 month high of $23.43. The company has a 50 day simple moving average of $14.18 and a two-hundred day simple moving average of $15.52. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.27). The business had revenue of $67.95 million during the quarter, compared to analysts’ expectations of $67.36 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. As a group, analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.97%. The ex-dividend date was Tuesday, March 11th. Genco Shipping & Trading’s dividend payout ratio (DPR) is 68.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GNK shares. Jefferies Financial Group lowered their price objective on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. StockNews.com cut Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Insiders Place Their Bets

In other Genco Shipping & Trading news, insider Jesper Christensen sold 13,602 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value 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. This trade represents a 19.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Joseph Adamo sold 6,226 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction 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. The trade was a 18.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,812 shares of company stock valued at $402,216 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Genco Shipping & Trading Company Profile

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.