Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) CFO Peter George Allen sold 8,984 shares of the business's stock in a transaction on Monday, February 24th. The shares were 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 in the company, valued at $631,703.96. The trade was a 16.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Genco Shipping & Trading Stock Down 0.5 %
GNK traded down $0.08 during trading on Friday, hitting $14.29. 1,225,882 shares of the company's stock were exchanged, compared to its average volume of 540,540. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. The business's 50 day moving average is $14.33 and its two-hundred day moving average is $16.01. Genco Shipping & Trading Limited has a fifty-two week low of $13.51 and a fifty-two week high of $23.43. The stock has a market cap of $610.80 million, a P/E ratio of 8.16, a PEG ratio of 5.64 and a beta of 0.97.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released 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 business had revenue of $67.95 million for the quarter, compared to analyst estimates of $67.36 million. As a group, equities analysts expect that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.
Genco Shipping & Trading Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 8.40%. Genco Shipping & Trading's payout ratio is 68.57%.
Institutional Trading of Genco Shipping & Trading
Institutional investors have recently made changes to their positions in the company. Banque Transatlantique SA bought a new stake in shares of Genco Shipping & Trading in the 4th quarter worth $28,000. R Squared Ltd bought a new stake in shares of Genco Shipping & Trading in the 4th quarter worth $29,000. New Age Alpha Advisors LLC bought a new stake in shares of Genco Shipping & Trading in the 4th quarter worth $56,000. Quarry LP grew its stake in shares of Genco Shipping & Trading by 535.8% in the 3rd quarter. Quarry LP now owns 4,266 shares of the shipping company's stock worth $83,000 after acquiring an additional 3,595 shares in the last quarter. Finally, Mariner LLC bought a new stake in shares of Genco Shipping & Trading in the 4th quarter worth $147,000. Institutional investors own 58.62% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on GNK. Jefferies Financial Group dropped their target price on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. StockNews.com downgraded shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.00.
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Genco Shipping & Trading Company Profile
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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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