Genco Shipping & Trading Limited (NYSE:GNK) Insider Sells $189,883.92 in Stock

Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) insider Jesper Christensen sold 13,602 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $189,883.92. Following the completion of the transaction, the insider now owns 57,322 shares of the company's stock, valued at $800,215.12. The trade was a 19.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Genco Shipping & Trading Price Performance

Shares of Genco Shipping & Trading stock traded down $0.08 during midday trading on Friday, hitting $14.29. 1,225,882 shares of the company traded hands, compared to its average volume of 540,540. The stock has a market cap of $610.80 million, a price-to-earnings ratio of 8.16, a PEG ratio of 5.64 and a beta of 0.97. 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's fifty day moving average price is $14.33 and its 200-day moving average price is $16.01. Genco Shipping & Trading Limited has a 12 month low of $13.51 and a 12 month high of $23.43.

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

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Genco Shipping & Trading Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 8.40%. The ex-dividend date of this dividend is Tuesday, March 11th. Genco Shipping & Trading's payout ratio is 68.57%.

Institutional Investors Weigh In On Genco Shipping & Trading

A number of institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 acquiring an additional 33,949 shares during the last quarter. Vident Advisory LLC grew its holdings 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 acquiring an additional 5,476 shares during the last quarter. Squarepoint Ops LLC grew its holdings 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 acquiring an additional 71,122 shares during the last quarter. Teza Capital Management LLC boosted its stake in shares of Genco Shipping & Trading by 792.0% in the 4th quarter. Teza Capital Management LLC now owns 110,520 shares of the shipping company's stock valued at $1,541,000 after purchasing an additional 98,130 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC boosted its stake in shares of Genco Shipping & Trading by 170.3% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 41,219 shares of the shipping company's stock valued at $575,000 after purchasing an additional 25,968 shares during the last quarter. 58.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on GNK. StockNews.com cut shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Jefferies Financial Group dropped their target price on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.00.

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.