GSA Capital Partners LLP Invests $526,000 in Genco Shipping & Trading Limited (GNK) Stock

GSA Capital Partners LLP bought a new stake in Genco Shipping & Trading Limited (NYSE:GNK) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 36,995 shares of the shipping company’s stock, valued at approximately $526,000. GSA Capital Partners LLP owned about 0.11% of Genco Shipping & Trading as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Northern Trust Corp lifted its holdings in Genco Shipping & Trading by 4.8% in the first quarter. Northern Trust Corp now owns 84,773 shares of the shipping company’s stock valued at $1,205,000 after acquiring an additional 3,899 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Genco Shipping & Trading by 82.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 22,200 shares of the shipping company’s stock valued at $316,000 after acquiring an additional 10,000 shares during the period. Virtu Financial LLC acquired a new position in Genco Shipping & Trading in the fourth quarter valued at approximately $145,000. Wells Fargo & Company MN lifted its holdings in Genco Shipping & Trading by 2,064.0% in the fourth quarter. Wells Fargo & Company MN now owns 11,599 shares of the shipping company’s stock valued at $154,000 after acquiring an additional 11,063 shares during the period. Finally, BlackRock Inc. lifted its holdings in Genco Shipping & Trading by 3.3% in the fourth quarter. BlackRock Inc. now owns 360,245 shares of the shipping company’s stock valued at $4,798,000 after acquiring an additional 11,399 shares during the period. 86.09% of the stock is owned by institutional investors.

Shares of Genco Shipping & Trading opened at $16.68 on Friday, Marketbeat Ratings reports. The company has a current ratio of 4.12, a quick ratio of 3.75 and a debt-to-equity ratio of 0.52. Genco Shipping & Trading Limited has a 1-year low of $8.55 and a 1-year high of $20.07.

Genco Shipping & Trading (NYSE:GNK) last announced its earnings results on Tuesday, May 8th. The shipping company reported $0.02 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The business had revenue of $76.92 million during the quarter, compared to the consensus estimate of $56.93 million. Genco Shipping & Trading had a negative return on equity of 2.26% and a negative net margin of 39.84%. research analysts forecast that Genco Shipping & Trading Limited will post 0.87 EPS for the current fiscal year.

A number of research analysts have issued reports on the company. Zacks Investment Research raised Genco Shipping & Trading from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday. ValuEngine downgraded Genco Shipping & Trading from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 16th. Morgan Stanley decreased their price target on Genco Shipping & Trading from $15.00 to $14.50 and set an “equal weight” rating for the company in a report on Tuesday, April 17th. Finally, Deutsche Bank began coverage on Genco Shipping & Trading in a research note on Monday, April 16th. They set a “buy” rating and a $19.00 target price for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Genco Shipping & Trading has an average rating of “Buy” and a consensus price target of $17.93.

Genco Shipping & Trading Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, such as commodities traders; producers; and government-owned entities.

Institutional Ownership by Quarter for Genco Shipping & Trading (NYSE:GNK)

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