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Created by netbender
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Date updated:07-20-2007

2007.07.19
GNK up 15% , DRYS up 10% , EXM up 8% .....and so on throughout the sector . The sector has been my heaviest weighting for awhile now so today's GNK news and reaction across the sector like a sack of cash out of the sky.

symbol name last price % change open
  • +
  • OCNF
    Oceanfreight Inc.
  • $1.07
  • -3.60%
  • $1.12

2007.07.19 If you like that 5% yield on GNK, then have a look at OCNF and SEA . They are not names discussed yet in sector in that they are new players not yet paying a dividend . Both have either acquired ( or about to close on ) small fleets of drybulkers which are all out on long charters and thus have cash flow all but locked in . I featured OCNF a few days ago and its soared almost 10% since but even at current price of 22.15 vs its projected $2.05 annual dividend is a 9.25% yield . SEA has identified a fleet and agreed to a price with sellers and about to close on the sale and its projected dividend yield at current prices is 10% . OCNF should announce a Q3 stub divvy any day now and a full 51.25 cent divvy each quarter thereafter . SEA first divvy should be a partial in Q4 of 2007 . For comparison , DSX will likely pay $2 in dividend over the next 4 quarters and trades at almost $29 vs OCNF projected to pay more but still at $22+ . Even so , DSX has a nice qualified dividend yield of around 7% . Why is OCNF so much cheaper than DSX ? Simple . DSX has been paying divvies since mid 2005 and thus is 'proven' . Many buyers in sector won't own a name til they see the divvy announcement . The smart money buys the new names before they announce first divvy .

People owning OCNF also tend to own: BRKBCLMTCVXFXIFXPGEIBM

TheStreet.com Rating: D What is this?

  • +
  • GNK
    Genco Shipping
  • $24.29
  • -0.61%
  • $25.09

No Analysis added

People owning GNK also tend to own: BDGBRNCDHRDISHFPLJOYGMRK

TheStreet.com Rating: C What is this?

  • +
  • DSX
    Diana Shipping In
  • $15.88
  • -0.69%
  • $16.40

No Analysis added

People owning DSX also tend to own: ALDBMYCNEGAINGOODHTEML.TO

TheStreet.com Rating: C+ What is this?

  • +
  • ONAV
    Omega Navigation
  • $3.50
  • -0.57%
  • $3.50

No Analysis added

People owning ONAV also tend to own: AAPLAAVAMXBGFCNECNTYCPL

TheStreet.com Rating: C- What is this?

  • +
  • QMAR
    4.82
  • $24.29
  • 0.00
  • $24.29

No Analysis added

People owning QMAR also tend to own: CSHCTRPJNJLGBTLVSMKLSVI

TheStreet.com Rating: No Rating What is this?

  • +
  • SEA
    Claymore Delta Gl
  • $13.64
  • +0.37%
  • $13.62

No Analysis added

People owning SEA also tend to own: DISDTHEDICOA.OBLPAMOTMRED.OB

TheStreet.com Rating: No Rating What is this?

  • +
  • MCX
    Mcx
  • $0.00
  • N/A
  • $N/A

No Analysis added

People owning MCX also tend to own: GDHDAHMASPVATWGEPRAN

TheStreet.com Rating: No Rating What is this?

  • +
  • DRY
  • $19.46
  • 0.00%
  • $N/A

No Analysis added

People owning DRY also tend to own: AHMALDBAYBGFBGMCNSLCRF

TheStreet.com Rating: No Rating What is this?

 

Start Price

Return Value

Start Date
OCNF 22.25 -95.19% Jul 20th
GNK 58.35 -58.37% Jul 20th
DSX 28.51 -44.30% Jul 20th
ONAV 24.22 -85.55% Jul 20th
QMAR 19.62 +23.80% Jul 20th
SEA 13.37 +2.02% Jul 20th
MCX 12.80 ------ Jul 20th
DRY 20.01 -2.75% Jul 20th

Average return:

 -37.19%

Success rate:

 28.57%

Tracking Started: 07-20-2007

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