Cubist Systematic Strategies LLC owns $3.31 million in Genco Shipping & Trading Limited (NYSE:GNK)

Cubist Systematic Strategies LLC raised its position in shares of Genco Shipping & Trading Limited (NYSE:GNK – Free Report) by 105.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,250 shares of the shipping company’s stock after purchasing an additional 79,801 shares during the period. Cubist Systematic Strategies LLC owned about 0.36% of Genco Shipping & Trading worth $3,308,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GNK. CWM LLC boosted its stake in Genco Shipping & Trading by 109.5% in the second quarter. CWM LLC now owns 1,909 shares of the transportation company’s stock worth $41,000 after purchasing an additional 998 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Genco Shipping & Trading in the second quarter valued at about $136,000. Banque Cantonale Vaudoise raised its stake in shares of Genco Shipping & Trading by 236.6% in the first quarter. Banque Cantonale Vaudoise now owns 8,536 shares of the shipping company’s stock worth $174,000 after purchasing an additional 6,000 shares during the period. Point72 DIFC Ltd purchased a new stake in Genco Shipping & Trading in the second quarter valued at about $178,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Genco Shipping & Trading by 80.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,980 shares of the transportation company’s stock worth $191,000 after purchasing an additional 4,003 shares in the last quarter. Institutional investors own 58.62% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Genco Shipping & Trading in a research report on Wednesday, September 4th. They set a “buy” rating and a $22.00 price target for the company. Alliance Global Partners boosted their price objective on shares of Genco Shipping & Trading from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.80, according to MarketBeat.

Check out our latest research report on GNK

Genco Shipping & Trading trading down 0.5%

Shares of GNK stock opened at $19.16 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.94, and a current ratio of 3.59. Genco Shipping & Trading Limited has a 52-week low of $12.65 and a 52-week high of $23.43. The firm has a market cap of $819.24 million, a price-to-earnings ratio of 319.33, a PEG ratio of 0.26 and a beta of 0.95. The company’s fifty-day moving average is $17.96, and its 200-day moving average is $20.11.

Genco Shipping & Trading (NYSE:GNK – Get Your Free Report ) last released its earnings results on Wednesday, August 7th. The shipping company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $107.00 million for the quarter, compared to analysts’ expectations of $74.86 million. Genco Shipping & Trading had a return on equity of 6.11% and a net margin of 3.59%. The company’s revenue for the quarter was up 18.1% year over year. In the same quarter last year, the business posted earnings of $0.27 per share. equities analysts anticipate that Genco Shipping & Trading Limited will post 2.1 EPS for the current fiscal year.

Genco Shipping & Trading cuts dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were paid a $0.34 dividend. This represents an annualized dividend of $1.36 and a yield of 7.10%. The ex-dividend date was Monday, August 19. Genco Shipping & Trading’s payout ratio is 2,266.67%.

About Genco Shipping & Trading

(Free Report)

Genco Shipping & Trading Limited, together with its subsidiaries, is engaged in the worldwide shipping of dry bulk cargo. The Company owns and operates dry bulk vessels to transport iron ore, grain, coal, steel products and other dry bulk cargoes. It charters its vessels primarily to trading houses, including commodity traders; producers; and government-owned entities.

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