Genco Shipping & Trading (NYSE:GNK) Shares Up 2.9% - What's Next?

Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report)'s stock price was up 2.9% during trading on Friday . The stock traded as high as $13.63 and last traded at $13.54. Approximately 82,336 shares were traded during trading, a decline of 84% from the average daily volume of 508,848 shares. The stock had previously closed at $13.16.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group cut their price objective on Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. StockNews.com lowered shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.00.

Genco Shipping & Trading Stock Performance

The stock's fifty day moving average is $14.18 and its two-hundred day moving average is $15.51. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. The firm has a market capitalization of $573.17 million, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 5.64 and a beta of 0.99.

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Genco Shipping & Trading (NYSE:GNK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.29 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $67.95 million for the quarter, compared to analyst estimates of $67.36 million. Analysts forecast that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.95%. The ex-dividend date was Tuesday, March 11th. Genco Shipping & Trading's dividend payout ratio (DPR) is presently 68.57%.

Insider Buying and Selling at Genco Shipping & Trading

In other news, CAO Joseph Adamo sold 6,226 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $86,914.96. Following the completion of the transaction, the chief accounting officer now directly owns 26,829 shares of the company's stock, valued at approximately $374,532.84. This represents a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter George Allen sold 8,984 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $125,416.64. Following the transaction, the chief financial officer now owns 45,251 shares of the company's stock, valued at $631,703.96. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,812 shares of company stock worth $402,216 over the last 90 days. Insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Genco Shipping & Trading

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Genco Shipping & Trading by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,838,759 shares of the shipping company's stock valued at $39,572,000 after acquiring an additional 10,193 shares during the period. American Century Companies Inc. increased its holdings in shares of Genco Shipping & Trading by 8.9% during the fourth quarter. American Century Companies Inc. now owns 1,361,597 shares of the shipping company's stock valued at $18,981,000 after purchasing an additional 111,564 shares during the period. State Street Corp raised its stake in shares of Genco Shipping & Trading by 1.0% during the third quarter. State Street Corp now owns 1,190,467 shares of the shipping company's stock valued at $23,214,000 after purchasing an additional 12,001 shares in the last quarter. Townsend & Associates Inc lifted its holdings in Genco Shipping & Trading by 2.2% in the fourth quarter. Townsend & Associates Inc now owns 1,071,959 shares of the shipping company's stock worth $15,318,000 after purchasing an additional 23,101 shares during the period. Finally, Geode Capital Management LLC grew its position in Genco Shipping & Trading by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 990,357 shares of the shipping company's stock valued at $13,809,000 after buying an additional 10,260 shares in the last quarter. Institutional investors own 58.62% of the company's stock.

Genco Shipping & Trading Company Profile

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.