Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) CAO Joseph Adamo sold 6,226 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $86,914.96. Following the transaction, the chief accounting officer now directly owns 26,829 shares in the company, valued at approximately $374,532.84. The trade was a 18.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Genco Shipping & Trading Stock Down 0.5 %
Shares of GNK traded down $0.08 during mid-day trading 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. Genco Shipping & Trading Limited has a 12-month low of $13.51 and a 12-month high of $23.43. The stock has a market cap of $610.80 million, a PE ratio of 8.16, a price-to-earnings-growth ratio of 5.64 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. The company's 50 day moving average is $14.33 and its 200 day moving average is $16.01.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.27). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The business had revenue of $67.95 million during the quarter, compared to analysts' expectations of $67.36 million. Equities analysts anticipate that Genco Shipping & Trading Limited will post 0.48 EPS for the current fiscal 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 paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 8.40%. Genco Shipping & Trading's dividend payout ratio is presently 68.57%.
Wall Street Analyst Weigh In
Several research firms recently issued reports on GNK. StockNews.com lowered Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Jefferies Financial Group decreased their target price on 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Genco Shipping & Trading currently has an average rating of "Moderate Buy" and an average price target of $23.00.
Get Our Latest Stock Analysis on GNK
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Genco Shipping & Trading by 36.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,852 shares of the shipping company's stock worth $1,782,000 after buying an additional 33,949 shares during the last quarter. Vident Advisory LLC grew its stake in Genco Shipping & Trading by 20.7% during the 4th quarter. Vident Advisory LLC now owns 31,904 shares of the shipping company's stock worth $445,000 after buying an additional 5,476 shares during the last quarter. Squarepoint Ops LLC grew its stake in Genco Shipping & Trading by 55.8% during the 4th quarter. Squarepoint Ops LLC now owns 198,673 shares of the shipping company's stock worth $2,770,000 after buying an additional 71,122 shares during the last quarter. Teza Capital Management LLC grew its stake in Genco Shipping & Trading by 792.0% during the 4th quarter. Teza Capital Management LLC now owns 110,520 shares of the shipping company's stock worth $1,541,000 after buying an additional 98,130 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC grew its stake in Genco Shipping & Trading by 170.3% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 41,219 shares of the shipping company's stock worth $575,000 after buying an additional 25,968 shares during the last quarter. Hedge funds and other institutional investors own 58.62% of the company's stock.
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.
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