D. E. Shaw & Co. Inc. Has $327,000 Stake in Genco Shipping & Trading Limited (NYSE:GNK)

D. E. Shaw & Co. Inc. decreased its position in Genco Shipping & Trading Limited (NYSE:GNK) by 54.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,689 shares of the shipping company’s stock after selling 46,990 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.09% of Genco Shipping & Trading worth $327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Aperio Group LLC acquired a new position in Genco Shipping & Trading in the second quarter valued at $28,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Genco Shipping & Trading in the second quarter valued at $28,000. Vanguard Group Inc. lifted its holdings in Genco Shipping & Trading by 1.4% in the second quarter. Vanguard Group Inc. now owns 309,266 shares of the shipping company’s stock valued at $2,611,000 after buying an additional 4,284 shares during the period. Northern Trust Corp lifted its holdings in Genco Shipping & Trading by 6.8% in the second quarter. Northern Trust Corp now owns 131,286 shares of the shipping company’s stock valued at $1,108,000 after buying an additional 8,364 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in Genco Shipping & Trading in the second quarter valued at $108,000. Institutional investors and hedge funds own 83.29% of the company’s stock.

Several equities analysts recently issued reports on GNK shares. ValuEngine upgraded shares of Genco Shipping & Trading from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Zacks Investment Research lowered shares of Genco Shipping & Trading from a “hold” rating to a “strong sell” rating in a report on Wednesday. Finally, Noble Financial set a $18.00 target price on shares of Genco Shipping & Trading and gave the company a “buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Genco Shipping & Trading has a consensus rating of “Buy” and a consensus price target of $14.90.

Shares of NYSE GNK opened at $10.37 on Friday. The firm’s 50-day moving average price is $9.58 and its 200-day moving average price is $8.86. Genco Shipping & Trading Limited has a 1-year low of $6.83 and a 1-year high of $13.21. The company has a current ratio of 2.02, a quick ratio of 1.75 and a debt-to-equity ratio of 0.44.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Wednesday, August 7th. The shipping company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.08). Genco Shipping & Trading had a negative net margin of 4.79% and a negative return on equity of 0.80%. The company had revenue of $41.75 million for the quarter, compared to analyst estimates of $39.92 million. On average, analysts predict that Genco Shipping & Trading Limited will post -0.35 earnings per share for the current fiscal year.

Genco Shipping & Trading Company 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 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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