Genco Shipping & Trading Limited (NYSE:GNK) Short Interest Update

Genco Shipping & Trading Limited (NYSE:GNK) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 984,400 shares, a growth of 9.0% from the January 15th total of 903,100 shares. Based on an average trading volume of 457,300 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.4% of the shares of the company are sold short.

Institutional Trading of Genco Shipping & Trading

Several institutional investors and hedge funds have recently modified their holdings of GNK. Teacher Retirement System of Texas purchased a new stake in shares of Genco Shipping & Trading in the 4th quarter valued at about $3,692,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Genco Shipping & Trading by 70.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company’s stock valued at $10,345,000 after acquiring an additional 219,907 shares in the last quarter. Barclays PLC raised its holdings in shares of Genco Shipping & Trading by 173.3% in the 4th quarter. Barclays PLC now owns 282,603 shares of the shipping company’s stock valued at $3,940,000 after acquiring an additional 179,216 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Genco Shipping & Trading by 155.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company’s stock valued at $5,559,000 after acquiring an additional 173,270 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Genco Shipping & Trading by 43.1% during the 3rd quarter. Royce & Associates LP now owns 482,687 shares of the shipping company’s stock valued at $9,412,000 after buying an additional 145,471 shares in the last quarter. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Price Performance

Shares of NYSE:GNK traded down $0.00 on Friday, hitting $14.62. The company’s stock had a trading volume of 418,889 shares, compared to its average volume of 405,298. The company has a 50-day simple moving average of $14.35 and a 200 day simple moving average of $16.22. Genco Shipping & Trading has a 1 year low of $13.51 and a 1 year high of $23.43. The company has a market capitalization of $624.98 million, a PE ratio of 9.31, a PEG ratio of 5.57 and a beta of 0.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49.

Analyst Ratings Changes

Several research firms have recently weighed in on GNK. Stifel Nicolaus downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating and cut their price target for the stock from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group restated a “buy” rating and issued a $25.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, November 7th. Finally, StockNews.com downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.20.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.