Chicago Equity Partners LLC Buys Shares of 115,962 Genco Shipping & Trading (GNK)

Chicago Equity Partners LLC bought a new stake in shares of Genco Shipping & Trading (NYSE:GNK) in the first quarter, Holdings Channel reports. The firm bought 115,962 shares of the shipping company’s stock, valued at approximately $1,649,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at $145,000. Wells Fargo & Company MN grew its position in shares of Genco Shipping & Trading by 2,064.0% during the 4th 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. BlackRock Inc. grew its position in shares of Genco Shipping & Trading by 3.3% during the 4th 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. Schwab Charles Investment Management Inc. bought a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at $163,000. Finally, Two Sigma Advisers LP bought a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at $282,000. Institutional investors and hedge funds own 87.22% of the company’s stock.

GNK has been the subject of a number of recent research reports. ValuEngine raised shares of Genco Shipping & Trading from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Morgan Stanley boosted their price objective on shares of Genco Shipping & Trading from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Seaport Global Securities set a $18.00 price objective on shares of Genco Shipping & Trading and gave the company a “buy” rating in a research report on Wednesday, February 28th. TheStreet raised shares of Genco Shipping & Trading from a “d” rating to a “c-” rating in a research report on Wednesday, February 28th. Finally, Zacks Investment Research raised shares of Genco Shipping & Trading from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Monday, March 12th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $17.64.

Shares of GNK stock opened at $17.73 on Friday. Genco Shipping & Trading has a 1 year low of $17.48 and a 1 year high of $17.76. The company has a quick ratio of 3.75, a current ratio of 4.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $617.09 million, a PE ratio of -13.71 and a beta of -0.03.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Tuesday, May 8th. The shipping company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $76.92 million during the quarter, compared to the consensus estimate of $56.93 million. Genco Shipping & Trading had a negative net margin of 39.84% and a negative return on equity of 2.26%. sell-side analysts forecast that Genco Shipping & Trading will post 0.84 earnings per share for the current fiscal year.

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.

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

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