Dimensional Fund Advisors LP has recently announced that it has increased stake in Genco Shipping & Trading Limited (NYSE:GNK) by 11.64%. After grabbing 3.03 million shares, the institutional investor is now in possession of 0.32 million shares of the Industrials Company. The new investment brought the stake of investor firm to 7.15% having worth around $46.64 million. Moreover, Global X Management Co. LLC increased its share by 1.18 million to have a control over 1.2 million shares. And Ion Asset Management raised its holdings to 0.34 million shares by acquiring 0.94 million shares or 2.23% of the stake.
Genco Shipping & Trading Limited (GNK) concluded trading on 05/25/23 at a closing price of $12.65, with 0.97 million shares of worth about $12.24 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -11.60% during that period and on Thursday the price saw a loss of about -2.39%. Currently the company’s common shares owned by public are about 42.63M shares, out of which, 39.76M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the GNK stock and their offered price forecasts bring an average price target of $23.98. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $28.00 and could fall to a lowest price of $20.00. The stock’s current price level is 46.42% above of average price target set by the analysts, while a rise to estimated low would result in gain of 36.75% for the stock. However, touching the estimated high of $28.00 would mean a gain of 54.82% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 41 times over the past 12 months. They bought 290,841 shares in 18 of the transactions. In 23 selling transactions, insiders dumped 1,614,587 shares.
DFA US Small Cap Value Portfolio, iShares Russell 2000 ETF, and Global X SuperDividend US ETF are the top 3 mutual funds which are holding stakes in Genco Shipping & Trading Limited DFA US Small Cap Value Portfolio is currently holding 1.04 million shares of worth totaling $15.97 million. The company recently came buying 0.27 million shares which brought its stake up to 2.45% of the company’s outstanding shares. iShares Russell 2000 ETF sold 11280.0 shares, after which its hold over company’s outstanding shares shrunk to 1.83%, leaving 0.77 million shares with the mutual fund that have a worth of about $11.92 million. Global X SuperDividend US ETF, after buying 0.75 million shares, have now control over 1.78% of the stake in the company. It holds 414.0 shares of worth $11.6 million.
Genco Shipping & Trading Limited (NYSE: GNK) started trading at $12.88, below -$0.08 from concluding price of the previous day. However, the stock later moved at a day high price of 12.88, or with a loss of -2.39%. Stock saw a price change of -8.66% in past 5 days and over the past one month there was a price change of -16.78%. Year-to-date (YTD), GNK shares are showing a performance of -17.64% which decreased to -48.43% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $11.92 but also hit the highest price of $27.15 during that period. The average intraday trading volume for Genco Shipping & Trading Limited shares is 960.16K. The stock is currently trading -9.94% below its 20-day simple moving average (SMA20), while that difference is down -15.63% for SMA50 and it goes to -17.62% lower than SMA200.
Dimensional Fund Advisors LP acquired 3.03 million shares of Genco Shipping & Trading Limited having value of about $46.64 million. Data submitted at the U.S SEC by Dimensional Fund Advisors LP revealed that the firm now holds 0.32 million shares in the company valued at close to $3990164.2, or have control over 11.64% stake in the company. Genco Shipping & Trading Limited (NYSE: GNK) currently have 42.63M outstanding shares and institutions hold larger chunk of about 65.00% of that. Holding of mutual funds in the company is about 28.62% while other institutional holders and individual stake holders have control over 28.63% and 28.00% of the stake respectively.
The stock has a current market capitalization of $543.57M and its 3Y-monthly beta is at 1.07. PE ratio of stock for trailing 12 months is 4.55, while it has posted earnings per share of $2.78 in the same period. It has Quick Ratio of 2.40 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GNK, volatility over the week remained 2.57% while standing at 3.33% over the month.
Analysts are in expectations that Genco Shipping & Trading Limited (GNK) stock would likely to be making an EPS of $0.33 in the current quarter, while forecast for next quarter EPS is $0.81 and it is $3.06 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.19 which is $0.43 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.1 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -13.50% while it is estimated to increase by 29.12% in next year.
Analysts at 9 brokerage firms have issued recommendations for the Genco Shipping & Trading Limited (GNK)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.60. Out of those 9 Wall Street analysts, 9 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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