Dimensional Fund Advisors LP Raises Stake in Genco Shipping & Trading Limited (NYSE:GNK)

Dimensional Fund Advisors LP lifted its stake in shares of Genco Shipping & Trading Limited (NYSE:GNK) by 19.4% in the 4th quarter, HoldingsChannel reports. The fund owned 887,739 shares of the shipping company’s stock after acquiring an additional 144,439 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Genco Shipping & Trading were worth $7,004,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Evermore Global Advisors LLC grew its position in Genco Shipping & Trading by 4.7% in the fourth quarter. Evermore Global Advisors LLC now owns 2,020,398 shares of the shipping company’s stock valued at $15,941,000 after purchasing an additional 90,800 shares in the last quarter. BlackRock Inc. grew its position in Genco Shipping & Trading by 11.8% in the fourth quarter. BlackRock Inc. now owns 694,797 shares of the shipping company’s stock valued at $5,483,000 after purchasing an additional 73,466 shares in the last quarter. Raynor Geoffrey grew its position in Genco Shipping & Trading by 4.2% in the fourth quarter. Raynor Geoffrey now owns 625,000 shares of the shipping company’s stock valued at $4,931,000 after purchasing an additional 25,000 shares in the last quarter. Q Global Advisors LLC grew its position in Genco Shipping & Trading by 125.0% in the fourth quarter. Q Global Advisors LLC now owns 459,328 shares of the shipping company’s stock valued at $3,624,000 after purchasing an additional 255,196 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Genco Shipping & Trading by 7.4% in the third quarter. Vanguard Group Inc. now owns 239,344 shares of the shipping company’s stock valued at $3,351,000 after purchasing an additional 16,585 shares in the last quarter. 83.26% of the stock is owned by institutional investors.

A number of research firms recently weighed in on GNK. Zacks Investment Research downgraded shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Morgan Stanley raised their target price on shares of Genco Shipping & Trading from $9.00 to $9.50 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Maxim Group decreased their target price on shares of Genco Shipping & Trading from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. B. Riley set a $15.00 target price on shares of Genco Shipping & Trading and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Noble Financial reaffirmed a “buy” rating and issued a $18.00 target price on shares of Genco Shipping & Trading in a research report on Thursday, March 7th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Genco Shipping & Trading presently has an average rating of “Hold” and a consensus target price of $14.70.

Shares of GNK opened at $7.18 on Friday. Genco Shipping & Trading Limited has a one year low of $6.83 and a one year high of $17.50. The stock has a market capitalization of $299.10 million, a PE ratio of 11.22 and a beta of 0.88. The company has a quick ratio of 2.18, a current ratio of 2.48 and a debt-to-equity ratio of 0.44.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Wednesday, May 8th. The shipping company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). Genco Shipping & Trading had a net margin of 3.92% and a return on equity of 1.51%. The firm had revenue of $50.44 million during the quarter, compared to the consensus estimate of $52.90 million. On average, research analysts forecast that Genco Shipping & Trading Limited will post -0.2 earnings per share for the current fiscal year.

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About Genco Shipping & Trading

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 ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

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

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