Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) insider Jesper Christensen sold 13,602 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $189,883.92. Following the completion of the sale, the insider now owns 57,322 shares in the company, valued at approximately $800,215.12. The trade was a 19.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Genco Shipping & Trading Price Performance
Shares of Genco Shipping & Trading stock traded down $0.08 during trading hours on Friday, reaching $14.29. The company's stock had a trading volume of 1,225,882 shares, compared to its average volume of 540,540. The firm has a 50 day moving average price of $14.33 and a 200-day moving average price of $16.01. Genco Shipping & Trading Limited has a one year low of $13.51 and a one year high of $23.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. The stock has a market cap of $610.80 million, a P/E ratio of 8.16, a P/E/G ratio of 5.64 and a beta of 0.97.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last posted its earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.27). Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The business had revenue of $67.95 million during the quarter, compared to the consensus estimate of $67.36 million. On average, analysts predict that Genco Shipping & Trading Limited will post 0.48 EPS for the current year.
Genco Shipping & Trading Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 8.40%. Genco Shipping & Trading's payout ratio is 68.57%.
Analyst Ratings Changes
Several analysts have commented on the stock. Jefferies Financial Group decreased their price target on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. StockNews.com cut shares of 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. Based on data from MarketBeat, Genco Shipping & Trading has an average rating of "Moderate Buy" and an average target price of $23.00.
Read Our Latest Analysis on GNK
Hedge Funds Weigh In On Genco Shipping & Trading
Hedge funds have recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in Genco Shipping & Trading during the 4th quarter valued at about $28,000. R Squared Ltd bought a new position in Genco Shipping & Trading during the 4th quarter valued at about $29,000. New Age Alpha Advisors LLC purchased a new stake in Genco Shipping & Trading in the 4th quarter valued at about $56,000. Quarry LP boosted its position in Genco Shipping & Trading by 535.8% in the 3rd quarter. Quarry LP now owns 4,266 shares of the shipping company's stock valued at $83,000 after buying an additional 3,595 shares during the period. Finally, Mariner LLC purchased a new stake in Genco Shipping & Trading in the 4th quarter valued at about $147,000. 58.62% of the stock is currently owned by institutional investors.
About Genco Shipping & Trading
(
Get Free Report)
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.
Further Reading
Before you consider Genco Shipping & Trading, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Genco Shipping & Trading wasn't on the list.
While Genco Shipping & Trading currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock the timeless value of gold with our exclusive 2025 Gold Forecasting Report. Explore why gold remains the ultimate investment for safeguarding wealth against inflation, economic shifts, and global uncertainties. Whether you're planning for future generations or seeking a reliable asset in turbulent times, this report is your essential guide to making informed decisions.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
