Accurate Wealth Management LLC Has $960,000 Stake in Genco Shipping & Trading Limited (NYSE:GNK)

Accurate Wealth Management LLC grew its stake in Genco Shipping & Trading Limited (NYSE:GNK) by 92.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,253 shares of the shipping company’s stock after buying an additional 31,890 shares during the period. Accurate Wealth Management LLC owned approximately 0.15% of Genco Shipping & Trading worth $960,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its holdings in Genco Shipping & Trading by 127.5% during the second quarter. Commonwealth Equity Services LLC now owns 25,166 shares of the shipping company’s stock valued at $536,000 after purchasing an additional 14,102 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Genco Shipping & Trading by 16.4% during the 2nd quarter. American Century Companies Inc. now owns 1,096,741 shares of the shipping company’s stock worth $23,372,000 after buying an additional 154,339 shares during the period. Dimensional Fund Advisors LP grew its stake in Genco Shipping & Trading by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,869,297 shares of the shipping company’s stock valued at $61,145,000 after buying an additional 33,150 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Genco Shipping & Trading by 66.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,050,030 shares of the shipping company’s stock worth $22,376,000 after acquiring an additional 419,730 shares during the period. Finally, Moors & Cabot Inc. lifted its position in 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 acquiring an additional 628 shares during the last quarter. Institutional investors own 58.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GNK. StockNews.com downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Stifel Nicolaus downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating and dropped their price target for the stock from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $25.00 price objective on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Genco Shipping & Trading currently has an average rating of “Moderate Buy” and a consensus target price of $24.20.

Genco Shipping & Trading Price Performance

Shares of NYSE:GNK opened at $14.64 on Thursday. The business’s 50 day moving average is $15.37 and its 200-day moving average is $17.21. 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 firm has a market capitalization of $625.98 million, a PE ratio of 9.32, a PEG ratio of 0.23 and a beta of 0.99. Genco Shipping & Trading Limited has a 1-year low of $13.51 and a 1-year high of $23.43.

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

Genco Shipping & Trading Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a $0.40 dividend. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a dividend yield of 10.93%. The ex-dividend date of this dividend was Monday, November 18th. Genco Shipping & Trading’s dividend payout ratio is currently 101.91%.

Genco Shipping & Trading 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.