Raiffeisen Bank International AG Has $923,000 Stock Holdings in Genco Shipping & Trading Limited $GNK

Raiffeisen Bank International AG raised its position in Genco Shipping & Trading Limited (NYSE:GNK) by 16.8% during the second quarter, HoldingsChannel.com reports. The firm owned 69,682 shares of the shipping company’s stock after buying an additional 10,001 shares during the quarter. Raiffeisen Bank International AG’s holdings in Genco Shipping & Trading were worth $923,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers lifted its holdings in shares of Genco Shipping & Trading by 15.7% during the 2nd quarter. Cetera Investment Advisers now owns 19,983 shares of the shipping company’s stock valued at $261,000 after buying an additional 2,715 shares during the last quarter. Creative Planning raised its position in Genco Shipping & Trading by 147.9% during the second quarter. Creative Planning now owns 49,141 shares of the shipping company’s stock valued at $642,000 after acquiring an additional 29,321 shares in the last quarter. SG Americas Securities LLC lifted its stake in Genco Shipping & Trading by 0.3% in the second quarter. SG Americas Securities LLC now owns 218,684 shares of the shipping company’s stock valued at $2,858,000 after acquiring an additional 617 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Genco Shipping & Trading by 82.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,942 shares of the shipping company’s stock worth $25,000 after acquiring an additional 876 shares in the last quarter. Finally, CSM Advisors LLC acquired a new position in shares of Genco Shipping & Trading during the 2nd quarter worth $3,876,000. 58.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Genco Shipping & Trading

In other Genco Shipping & Trading news, insider Jesper Christensen sold 34,202 shares of Genco Shipping & Trading stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $18.06, for a total value of $617,688.12. Following the transaction, the insider directly owned 69,363 shares of the company’s stock, valued at $1,252,695.78. The trade was a 33.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.37% of the stock is owned by company insiders.

Genco Shipping & Trading Stock Performance

NYSE:GNK opened at $17.64 on Wednesday. The firm has a market capitalization of $762.59 million, a PE ratio of 51.87 and a beta of 1.20. Genco Shipping & Trading Limited has a 1 year low of $11.20 and a 1 year high of $19.60. The company has a current ratio of 1.63, a quick ratio of 1.20 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $17.23 and its 200 day simple moving average is $15.71.

Genco Shipping & Trading (NYSE:GNK) last released its earnings results on Wednesday, November 5th. The shipping company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $79.92 million during the quarter, compared to analyst estimates of $65.06 million. Genco Shipping & Trading had a net margin of 4.40% and a return on equity of 1.40%. The business’s revenue was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 EPS. On average, sell-side analysts anticipate that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.

Genco Shipping & Trading Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 17th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, November 17th. This represents a $0.60 annualized dividend and a yield of 3.4%. Genco Shipping & Trading’s dividend payout ratio is presently -352.94%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GNK shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genco Shipping & Trading in a research note on Thursday, November 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $19.00 price target on shares of Genco Shipping & Trading in a research report on Thursday, August 7th. Finally, SEB Equity Research set a $23.00 price target on Genco Shipping & Trading in a research note on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $21.00.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, bauxite, steel products, and other drybulk cargoes. It operates through the Major Bulk and Minor Bulk segments. The Major Bulk segment focuses on Capesize vessels. The Minor Bulk segment consists of Ultramax and Supramax vessels.